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SBI aiming to open 1000 brand new branches in order to recruit 11000 workers

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In order to diversify its activity, SBI plans to start 1000 branches a year and to recruit 11,000 workers during the current year. SBI who is the biggest giver of loans in India is over-whelmed by its improvement in business. As per the statement given by the chairman of SBI at www.propertykhazana.com, the business had a steep increase of above 12 percent which is mainly due to the business made abroad. This is in contract to 8% achieved when he assumed office as a chairman of SBI. The credit shot up by end of July and the bank would be accomplishing an increase of 25% during the fiscal year. Though it may be too early to predict approximate growth, the famine may also play an important role on the increase in credit.
The Chairman made it clear through www.propertykhazana.com that there cannot be a comparison that is taking place in India that has led to the disaster in US although many banks were forcibly trying to push the lending industry. Since there was dissimilarity in the yields and the segments in India and US, a decline in the rates of loans for home is seen. Though much far-off than ICICI and HDFC in lending housing loans, SBI is now termed as the major lender for home loans. The Chairman also adds that realty prices have come down by nearly 20% in major cities.
State Bank of Indore would be amalgamated with State Bank of India though a statement on this is still to be received from Reserve Bank of India and the Union Government and amalgamation of other banks into SBI is under consideration. For more and latest real estate updates follow us at www.propertykhazana.com.
Source: NBTVLIVE

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