GUWAHATI: Commercial banking operation of the State Bank of India (SBI) in North Eastern Region is bracing itself for a major change with shifting of administrative control of the bank’s operations from Guwahati to Kolkata. However, there will be no impact on the retail banking in the region.
A top official of the bank said that in order to serve the commercial clients in the region better the decision was taken to shift the Corporate Accounts Group (CAG) to Kolkata.
“The decision was taken to serve our corporate clients better with more expertise. In North East region the team was under the National Banking Group. Now CAG division will specifically cater to the needs of our corporate clients of the region,” the official said.
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CAG looks after the big advances of the banks starting from Rs 25 crores and above.
However, the retail operations of the bank in the region will function normally without any change.
Concerns were raised by industry associations in the region that the shifting of commercial branch will hugely impact the credit flow to the industry. Since its inception in 2004, the commercial branch has rendered solutions to a wide range of credit needs of industry and enterprise in the region and is the largest branch of SBI in the North East. SBI is the most important bank in the North East, having more than 60% market share.
