Agartala, July 2: The State Bank of India (SBI) is all set to expand its network in Tripura and convert its main branch in the state, located at Melarmath here, into a “financial supermarket”.

SBI assistant general manager Utpal Sharma announced this at a function held here yesterday to celebrate the golden jubilee of the bank’s operations in Tripura.

SBI, the oldest bank in Tripura, launched operations in the state on July 1, 1957.

Sharma disclosed that SBI currently has a deposit of Rs 500 crores.

However, the bank is lagging behind other banks operating in the state.

While the overall credit-deposit ratio in the state is 34 per cent, SBI’s credit-deposit ratio is 27 per cent.

“It is not that we are disinclined to give loan or raise our credit-deposit ratio but in the absence of industry, there is no demand for major loans,” Sharma said.