SBI targets Rs 7,000 cr new deposits

State Bank of India is targeting new deposits worth Rs 7,000 crore during the current fiscal in Andhra Pradesh. "As of March, our deposits in Andhra stood at Rs 50,000 crore and we are aiming to increase it to Rs 57,000 crore by the end of this fiscal," RK Sharma, chief general manager (Hyderabad circle), SBI, told mediapersons here on Thursday.

Sharma said the bank was confident of achieving the targeted deposits by the end of March 2008 as it had proposed another 100 branches in the state. At present, SBI has 863 branches in Andhra.

Besides, it will open another 175 ATMs across the state by the end of this fiscal from the current 507.