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Harish Rao inaugurates SBI’s new regional office in Siddipet

Speaking on the occasion, the Finance Minister lauded the bank’s role in extending loans to government-funded bank-linkage schemes

By Telangana Today

Updated On - 5 June 2021, 12:30 AM

Harish Rao inaugurates SBI’s new regional office in Siddipet — Finance Minister T Harish Rao speaking at the inauguration of SBI’s new facility in Siddipet on Friday.

Siddipet: Finance Minister T Harish Rao on Friday inaugurated SBI’s new ‘Regional Business Office’- Siddipet. Speaking on the occasion, the Finance Minister lauded the bank’s role in extending loans to government-funded bank-linkage schemes. Om Prakash Mishra, Deputy Managing Director of SBI-Hyderabad Local Head Office, thanked Harish Rao for allotting one acre of land for setting up the Bank’s Regional office and Specialised Agriculture Development branch. The foundation stone was laid by Mishra in the presence of Harish Rao on June 20, 2019. A well-built sprawling premises of 14,000 sq feet office and 11,000 sq feet parking area has come up with all amenities within two years, to serve the customers of the district.

Mishra informed that the RBO, Siddipet was hitherto functioning from RC Puram in Hyderabad. To provide better linkage and coordination with the branches and customers, the RBO has been shifted to new premises at Siddipet. The new RBO will oversee 40 branches spread across the districts of Siddipet and Medak.

The RBO has a good mix of retail, agriculture and business enterprises loans of approximately Rs 3,000 crore with a CD ratio of 131 per cent. It will also facilitate quick delivery of all banking services to the citizens of the district, with the support of 34 retail branches, 6 agriculture development branches, two Retail Asset Credit cells and Customer service points. “The market share of the business of SBI in the State is around 20 per cent,” he said. On the occasion, Mishra has presented Oxygen Concentrators and Dry Ration Kits under SBI’s Corporate Social Responsibility to Siddipet district administration. Medak MP Kotha Prabhakar Reddy, District Collector P Venkatrama Reddy, Police Commissioner Joel Davis, SBI general manager (NW-I) Jogesh Chandra Sahu, deputy general manager-AO Hyderabad Satyanarayana Panigrahi, and RBO-Sangareddy regional manager Priya Kumar, were also present.