K'taka Apex Bank in an expansion mode
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In an effort to expand its customer base, the Karnataka State
Co-operative Apex Bank plans to open 31 new branches and five new ATM
counters next month. Speaking with Deccan Herald, the bank’s Managing Director S N Jayaram IAS said that the ATMs will be opened in the city and the branches will be across the state. “We hope to enhance our customer care service by bringing in Real Time Gross Settlement (RTGS) system for easy funds transfer,” he added. The Apex Bank, which started its operation in 1915, has 21 District Co-operative banks with 600 branches and 5 lakh Primary Agricultural banks under its jurisdiction. It has a working capital of Rs 50,200 crores and its advances to agriculture sector amount Rs 3200 crores for the current financial year till March. Loan waiver Apex Bank is quite successful in farm loan waiver scheme. It had received a total amount of Rs 1879.35 crores from the government as part of the Farm Loan Waiver Scheme, of which it has released Rs 1751.18 crones in 2008-09. Jayaram said the loan waiver scheme has not created any liquidity crisis and they are doing very well. The bank is also vying to utilise its deposits for investment in infrastructure projects in the state. “We already had preliminary negotiations with the KSRTCin this regard. We are ready for investments in private and public enterprises,” he added. Self Help Groups numbering 1,23,368 have mobilised a deposit of Rs 256.93 crores till January 31st, 2009 to the District Co-operative banks and also availed credit facilities of Rs 494.41 crores. Link : http://archive.deccanherald.com/Content/Mar232009/business20090322125697.asp | |
