The Hindu Business Line : SBI Chennai circle completes ATM networking

THE Chennai circle of State Bank of India has networked all its 117 ATMs on Tuesday and proposes to complete the computerisation and networking of all its 590 branches by 2005.

The Chennai circle has presently 385 fully computerised branches covering 92 per cent of business. Around 139 branches in the cities of Chennai, Coimbatore, Tiruchi, Madurai, Tirupur and Erode are to be networked in the first phase. With the networking of ATMs, it will now be possible for any SBI ATM card holder to use any ATM in this circle. The circle proposes to add 150 additional networked ATMs in this fiscal.

Announcing the performance of the circle for 2002-03, Mr S.Krishnamurthy, Chief General Manager, SBI, said deposits had grown by 10.3 per cent to Rs 14,346 crore while advances rose by around 13 per cent to Rs 10,290 crore. Of the Rs 1,165 crore that the circle disbursed last year, 75 per cent had gone to the retail segment. The housing loan segment had seen a disbursement of Rs 403 crore. The target for housing finance in the current fiscal is Rs 500 crore.

Mr Krishnamurthy said that the Chennai circle had been able to bring down the net NPAs to around 5 per cent. He said that notices under the Securitisation Act had been issued to 223 borrowers for an amount of Rs 123 crore. Of this seizures had been made in 3 cases, where amount involved was around Rs 25 crore. Notices had helped the bank recover around 10-12 crore, he said.

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