SBM's chief general manager and de facto managing director PC Joshi told The Financial Express

that during the fiscal, ``the thrust will be on remittance and non-fund-based business including letter credit guarantee and other services. We will also concentrate on demand deposits rather than long term deposits. We also have chalked out expansion and computerisation plans for the current fiscal.''

Joshi said, ``During the fiscal SBM has no plans for public issue as currently we are comfortable with our capital adequacy.''

During the fiscal, SBM would open 25 branches across the country. (Karnataka will have 15 of them). Currently, nationwide the bank has close to 600 branches of which thestate accounts for 490. However, Joshi ruled out any chances of fresh recruitments. He said,``We have no plans for new reruitment. In case of new branches, we will try to redeploy our existing staff.''

For this fiscal, the bank has earmarked 15 per cent of its total advances towards personal segment, housing and consumer loans and 22 per cent would be given to the agriculture sector as against 18 per cent in the previous year, he said. Priority sector which includes small and medium business houses and agriculture together would be given 45 per cent of the total advances, as against the national average of 35 per cent, he added.

The bank has plans to slash its NPA to 9 per cent from 10.05 per cent. ``In order to slash our NPA level by 1.05 per cent, we are currently working out some internal settlement schemes for small companies. In terms of big companies that are already in the hands of the Board for Industrial and Financial Reconstruction, we will wait,'' he added.

During the period, the bank wouldalso improve its per capita productivity from Rs 78 lakh to Rs 1 crore. The bank has targeted to improve its forex merchant turnover from Rs 5,080 crore to Rs 6,500 crore, he said. In the export finance front, the bank aims at a 24 per cent growth at Rs 560 crore as against last year's Rs 460 crore at 16 per cent, he added.

According to Joshi, during the fiscal, the bank has plans to extend computerisation to more branches. SBM has 22 fully computerised branhces and 60 partially computerised outlets in the country. By the end of the fiscal, the bank would have 20 fully and 60 partially computerised branches, he said.

Commenting on the credit card business, he said, ``The bank has no immediate plans to foray into exclusive credit card venture as our customers are currently being allowed to use the credit card facility of State Bank of India.'' However, he added, ``we are planing to widen the base of our newly launched Kissan credit card to a lakh.'' The Kissan cards provide customised credit limit foreach farmer based on the size of his land holding and yielding capacity of the land.