Leading public sector financial institution, State Bank of India (SBI) is keen to establish its Andhra Pradesh headquarters in Guntur-Vijayawada capital region as it senses huge business opportunity in the State, according to Ashwin K Mehta, SBI general manager.
Currently, Hyderabad is the headquarters for SBI operations for both AP and Telangana region.
He said the bank top officials had submitted a representation to Chief Minister N.Chandrababu Naidu and sought suitable land for bank’s headquarters in the new capital region. “There are ample opportunities for expansion of banking activities in Andhra Pradesh. That is why we approached the Chief Minister seeking the government’s support in all aspects,” said Mr.Mehta
He inaugurated a new SBI branch at Arasavilli and two e-corners which would have ATMs, deposit machines and other facilities on Friday. Speaking to The Hindu , he said the bank had plans to set up 18 more branches in AP very soon.
SBI Deputy General Manager K.N. Nayak and Regional Manager D. Rajaram Mohana Rao said the business was expanding with rapid speed in the district and transactions would cross Rs.3,000 crore in the current financial year. “We are going to inaugurate our 51st branch at Kasibugga very soon as part of expansion activity. All the branches are exceptionally doing good business except in agriculture loans which turned as non performing assets in a few areas,” said Mr. Rajaram Mohana Rao.
SBI Staff Union leaders J.P. Sarma, V.V.S.R. Sarma , C. Koteswara Rao, R. Narendra said employees were doing commendable job in opening new accounts under Jan Dhan scheme. They said around 45,000 new accounts were opened under the scheme in the district. They said employees were being given training in handling new schemes and advanced technology.
