BHOPAL: State Bank of India (SBI) Cooperative Credit Society has decided to increase the loan limit from Rs 5 lakh to Rs 7 lakh at rate of 7 per cent to employees.
Addressing 43rd Annual General Meeting of SBI Employees Cooperative Credit Society at LHO on Sunday, SBI CGM Rajesh Kumar said, “It provides loan at low rate of interest, which is good in the interest of the bank employees.”
Credit society president Arun Bhogliwal presided over the function and Kumar inaugurated it. CGM also launched a website detailing award staff union activities.
Bhagoliwal said, “Cooperative Credit society provides loan upto Rs 5 lakh at 7 per cent interest rate. But now it has been increased upto Rs7 lakh at same rate of interest.
In case of death of employees, there is provision to waive it off.” Rajat Mohan Verma, president SBI Award Staff Employees Union, also addressed the function.
GMs (Network) Rajiv Kumar Saxena, Kaushik Sinha, Chandrashekhar R Powar, Zonal development officer Brahm Singh, DGM Rajiv Sablok, SBI Officers Association were present .