Mangalore: New State Bank of Mysore Branch Inaugurated in Bijai
Daijiworld Media Network—Mangalore (TU/CN)
Mangalore, Dec 16: A new branch of State Bank of Mysore (SBM) was inaugurated at Bejai-Kapikad on Tuesday December 16.
Addressing the gathering after inaugurating the new branch, P Shivashankar, chief executive officer, zilla panchayat, said the social responsibility of banks had increased after nationalization. SBM has played a vital role in uplifting the lifestyle of people in the urban and rural areas.
Giving the example of several American banks that have gone bankrupt owing to global recession, he said it is a matter to be proud of about Indian banks which are on a spree of opening more branches. C S Jagadish, zonal assistant general manager, SBM, announced that more branches of the bank will be opened in various parts of the district.
He said the bank would reduce interest rates on home loans and provide insurance schemes and pension privileges. Jagadish also said that the bank intended to touch Rs 1 lac crore in business by the year 2010.
PG Ramesh, commissioner, Mangalore Urban Development Authority, corporator Lancelot Pinto, Sameer Kumar Roy, regional manager, SBM, Valerian Aranha, branch manager, and P Ganapathi Bhat, deputy manager, were present on the occasion.