SBM TO OPEN 26 NEW BRANCHES

Article Abstract:

The State Bank of Mysore plans to add 26 branches to its 568 units. About 20 branches are likely to be located in Karnataka. It is likely to open fully computerised personal banking branches. It has chalked out a 5-year programme and set a target of Rs300 crore gross profit (Rs126 crore now). It is to increase the deposits to Rs10,000 crore by the year 2003 (Rs5,000 crore now). It plans to increase the advances to Rs7,000 crore from Rs3,000 crore. It plans to offer loans for housing up to Rs20-25 crore in 1998-99. (rk)

New capacity, new plant construction, Banking Institutions, Depository Credit Intermediation, Banks (Finance), State Bank of Mysore

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CALL MONEY CLOSES AT 8.75 PERCENT

Article Abstract:

Overnight call money rates opened between 8.50 to 8.75 percent and closed at around 8.75 percent in the interbank call money market on February 12, 1999. Rates for the three day funds opened at 9.20 percent and closed at 9-9.10 percent. The State Bank of India was absent from the market for the second consecutive day. (khr)

Comment:

Overnight call money rates opened between 8.50 to 8.75 percent and closed at around 8.75 percent in the interbank call money market on February 12, 1999.

Federal Funds Rate

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