Financial assistance is provided under these Programmes for self-employment and rehabilitation of the beneficiaries. It can form any banking company as its subsidiary or take over any banking company on the direction of the Reserve Bank. It also gives advances to them for a short-term on the guarantee of the State Government, pending flotation of debentures by them.
Further, eight banks of the former princely States were brought under the SBI as its subsidiaries in For this purpose, the Bank has set apart Rs.
Since the inception of the Programme in the cumulative disbursement of the Bank up to March, amounted to Rs. These subsidiaries promote merchant banking, equipment leasing, venture capital finance, portfolio management services, hire- purchase activity, housing finance activities, etc.
Therefore, the Imperial Bank continued to handle Government transactions.
In Februaryit started the Institute of Information and Communication Management in Hyderabad to spread computer education and information, and communication management skills. Under this scheme, the Bank finances technically qualified persons and experienced craftsmen up to Rs.
Along with branch expansion, the number of employees also increased from 14, to 2,33, over the period. The State Bank has been successfully carrying out its responsibility of the development of districts under the Lead Bank Scheme.
Under this scheme, it provides interest free loans, repayable over a period of years with an initial starting period. The State Bank has been meeting the growing needs of the small scale sector by providing credit facilities on liberal terms.
The State Bank of India is a pioneer in the field of agricultural finance. This report will help you to learn about: Of the small business units financed by the Bank, 50 per cent are in backward areas, amounting for 48 per cent of the total quantum of assistance provided to the small business sphere.
The Bank has also been assisting in the creation of self-employment opportunities as well as industrial development of backward districts in the country. The overall amount of advances increased from Rs. The establishment of warehouses helps in the marketing of agricultural produce by farmers.STATE BANK GROUP The State Bank of India was established under the State Bank of India Act,the subsidiary banks under the State Bank of India.
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