SBI passing interest benefits to clients: DGM


    Stating that these are unprecedented times and that everyone has been caught off guard due to COVID-19, SBI’s DGM assured MSMEs in the city that SBI is there for them.

    ‘We have 7 exclusive SME branches in the city just to help small and medium businesses’ said the DGM, SBI Mr K Rangarajan.

    Speaking at a webinar organized by the AP chamber of commerce and industry the DGM also assured that any reduction in interest rates are being passed on to the customers.

    ‘Our interest rates(MCLR) are linked to the repo therefore any change to repo rate is passed on to the customer. There is a straight line reduction in interest rate. So any fluctuation that is there is directly given to customers’ said the SBI DGM.

     Mr Rangarajan also applauded the government of India for striving to become self-reliant. ‘The Atamanirbharata will show us various ways to grow and the financial sector has a huge role to play’ he said.

      The DGM also went on to state that the Indian banking system has great fundamentals backed by both strong customer and asset base. Mr Rangarajan is the DGM of Visakhapatnam module which comprises of Visakhapatnam, Vizianagaram, Srikakulam and east Godavari districts. Mr Sudhir, Mr Pydah Krishna Prasad and Mr KRB moderated the discussion on behalf of AP chambers.

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