‘Demat facility to be extended to more branches’
HOSUR: The State Bank of India opened Hosur town branch on Bagalur Road on Wednesday. It is the third branch in Hosur town, 15th in Krishnagiri district and 55th branch in the Salem region consisting of Krishnagiri, Dharmapuri and Salem districts, said R. Viswanathan, Regional Manager, Regional Business Office, Salem.
He told reporters at the inaugural function that in view of the bank’s expansion plans and to cater to the rising demand for banking services in the fast developing industrial town, the new branch was opened with internet, mobile and host of other facilities for the new-age customers.
He said that the Salem region surpassed the target set for ATMs in the region. The ATM which would be inaugurated shortly at the Hosur town branch would be 75th in the region. The bank planned to increase the number of ATMs in the region to hundred very soon. There were nine ATMs in Hosur town.
Cash refilling at the ATMs in Hosur and other parts of Krishangiri district would be outsourced to a private agency on a pilot basis soon. On the basis of its success, the experiment would be extended to the entire region. This would augment continuous supply of cash to the customers through ATMs, he said.
He added that the demat facility for online account for trading in stocks would also be extended to some more branches in the region.
In Krishnagiri, the facility was available in Mookandapalli, Krishnagiri and Hosur ADB branches.
Earlier, Collector V.K. Shanmugam inaugurated the branch. P. Rathinavel, Revenue Divisional Officer, Hosur, lighted the lamp.
Officials from the Regional Business Office and leading businessman T. Devarajan participated.