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Tuesday, February 2, 2010

SBI to cover more unbanked villages

State Bank of India has achieved its target of covering one lakh un-banked villages ahead of the March 2010 deadline, with the opening of a customer service point at Sannyasidanga village near Jangipur in West Bengal on January 31.

It was inaugurated by Union Finance Minister Pranab Mukherjee.

It also coincided with the opening of a rural ATM at Barala village, 2 km away, and a branch at Jangipur town. SBI has now decided to cover at least one lakh more villages out of the over five lakh unbanked villages in India.

There are about 6.5 lakh villages, of which the majority do not have access to banking services. In April 2008, SBI Chairman O. P. Bhatt set a challenging task of covering one lakh unbanked villages by March 2010 by providing basic banking facilities to its population.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Thursday, Jul 17
11:30 Employment Change (3M) 3 134K 89K
11:30 Average Earnings Excluding Bonus (3Mo/Yr) 2 5.0% 4.9% 5.2%
11:30 Imports (MoM) 1 18,350M 19,448M Revised from 19,469M
11:30 Exports (MoM) 1 24,140M 23,456M Revised from 23,300M
11:30 Trade Balance 1 5,790M 4,008M Revised from 3,831M
18:00 Retail Sales Control Group 3 0.4%
18:00 Retail Sales (YoY) 1 3.3%
18:00 Retail Sales ex Autos (MoM) 2 0.3% -0.3%
18:00 Retail Sales (MoM) 3 0.1% -0.9%
18:00 Initial Jobless Claims 2 235K 227K
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