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19 April, 2024 14:09 IST
SBI makes 209 out of 225 branches functional in Hudhud-hit AP
Source: IRIS | 20 Oct, 2014, 01.58PM
Rating: NAN / 5 stars.
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State Bank of India (SBI) today said it has restored normal operations at almost all the 225 branches affected by the cyclone 'Hudhud' in Andhra Pradesh. Out of 225 branches, 209 are operational now and 190 of total 502 ATMs are functional in cyclone hit Visakhapatnam, Vijaynagaram and Srikakulam districts. The bank has started a mobile ATM and 5-6 more such facilities will be operational soon where the branches are still out of service to help people withdraw money.

B. Sriram, managing director, National Banking and Group Executive SBI said, ''Unless we get our branches going at the earliest, people will be unable to transact or draw cash.  At times like a natural calamity, life comes to standstill.  In a cash driven economy, life without money in hand, leads to desperation.  The first thing is that you need to have money, otherwise how can you buy basic things for survival.  The affected citizens have a great degree of relief when they are able to access their money either through ATMs or Branches.''

Besides quick restoration of operations in branches, the bank's employees are also involved in clearing the debris in many areas and distribution of food packets and blankets to the victims.he added.

Shares of the company gained Rs 37.7, or 1.49%, to trade at Rs 2,560. The total volume of shares traded was 149,400 at the BSE (1.46 p.m., Monday).

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