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Thursday, April 16, 2009

Business matters but social services too


CUDDALORE: State Bank of India (SBI) is not only concerned with business but also interested in social services.

To demonstrate this R. Suresh Johnson, Regional Manager, Regional Business Office, Puducherry, handed over a water dispenser to the inmates of Samarpan, an old age home, and to children of Daya Special School at a simple function organised in the Manjakuppam branch of the SBI here on Wednesday.

Mr. Johnson said that the region, comprising Cuddalore and Villupuram districts and the Union Territory of Puducherry, was doing good business because of the receptive nature of the customers.

For instance, the Manjakuppam branch had mobilised deposit to the tune of Rs. 27 crore last year and earned a profit of Rs. 3.8 crore.

If all the 56 branches in the region did the same way the region would easily become number one, in terms of business volume, in the country.

Mr. Johnson pointed out that earlier the focus was only on mobilising term deposits in a conventional manner. But now SBI had chosen to offer “a menu” that contained various saving options such as mutual fund, gold investment and so on.
Investment options

Hence, SBI provided a broad spectrum of investment options besides rendering free financial advisory services to the customers. Mr. Johnson launched the SBI GETS, an open-ended gold exchange traded scheme.

He said that SBI had also launched a group insurance scheme and also facilitated the booking of Tata Nano, the common man’s car.

K. Govindarajan, Manjakuppam branch manager, and Chella Kandasamy, investment consultant, SBI, were present.

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