Financial Inclusion
The Bank is actively pursuing initiatives to improve Financial Inclusion and Financial Literacy. 29 villages in Kerala and 14 villages in Tamil Nadu have been allocated to the bank for financial inclusion. The Bank has set up Customer Service Points and commenced enrollments in 18 villages. Bank has also opened a branch in Perumanna village in Calicut district, which is one of the 29 villages allotted to the bank. The products offered under In financial inclusion, under “SBT-SAHAYA HASTHAM” umbrella consists of an SB Account (Zero balance), A Recurring Deposit account and an Overdraft (General Credit Card) for Maximum of Rs. 10,000/- for the rural poor. The Bank opened 44 new branches during the financial year, taking the total number of branches to 792. The Bank has on hand RBI approval to open 75 more branches, and Internal approvals to open 55 more branches under General permission accorded by Reserve Bank of India. Alternative channel reach was expanded further; 107 new ATMs were installed during this financial year, taking the total ATMs to 833. These ATMs are part of over 25,000 strong State Bank Group ATM Network. 621 (79%) of the Bank’s branches are in the state of Kerala. Bank’s CD Ratio in Kerala has improved from 59% in March 2010 to 62% in March 2011. Rural Self-employment Training Institutes have been started by the Bank in Wayanad, Pathanamthitta, Alappuzha, and Kottayam for providing skill upgradation training to the rural youth with focus on BPL category. The 4 institutes had trained 9847 persons and 95% of the people are women beneficiaries, majority of the trainees are reported to be successful in starting self-employment ventures. Bank has signed MoU with Unique Identification Authority of India (UIDAI) to become registrars for UID Project of the Government of India.
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