SBM eyeing Rs 20 cr business in 'Property Fair'

Chennai, Oct 22 (UNI) The State Bank of Mysore was eyeing a business of Rs 20 crore in its three-day 'Property Fair', inaugurated by popular actor of yesteryears Sachu, today.

Talking to reporters here, Bank Assistant General Manager (Chennai Region) V R Kolandaivelu said last year the Bank had a business of Rs 12 crore.

Considering the overwhelming success and to target the festival season, the Bank would organise two more property fairs at the IT Corridor and in Annanagar by the end of next month.

He said at present the Bank was having 35 branches in Tamil Nadu and planning to open five new branches, of which two would be in Sriperumbudur and Karur, by the end of March next year.

He said to mark the property fair, the Bank also launched an unique Insurance linked deposit product -- My Bank Surakshana -- a first of its kind product in the banking industry.

It was aimed at providing Life Insurance coverage to the depositors, free of Insurance premium.

UNI