State Bank of Mysore

Trusted Service

Interest rates

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SBM's Base Rate

SBM's Prime Lending Rate

Interest rates on Domestic Deposits

Interest rates for  Deposits (Rs 1.00 Cr to Rs 5.00 Cr)

Interest rates for Deposits above Rs 5.00 Cr

Interest rates on Personal Segment Advances

Interest rates on NRE Deposits and Schemes

Interest rates on SME Segment Advances

Interest rates on Agricultural  Advances

 

SBM Base Rate inrespect of all advances (other than certain exempted categories): 10.25 %( w.e.f 16.11.2013)
SBM Prime Lending Rate- SBMPLR-15.00%( w.e.f 04.03.2013)

RATES OF INTEREST WITH EFFECT FROM 01-08-2014.

FOR DEPOSITS OF LESS THAN Rs 1.00 CRORE

PERIOD

REVISED RATE OF INTEREST

(%)

7 DAYS TO 90 DAYS

8.00

91 DAYS TO LESS THAN 179 DAYS

8.00

180 DAYS TO LESS THAN 1 YEAR

8.25

1YEAR & ABOVE UPTO 10 YEARS

9.00

1.The revised rates are applicable for fresh deposits and renewal of maturing deposits.

2. Senior Citizens will be eligible for 0.50% extra interest for all maturities.

3. The revised rates are also applicable to deposits accepted under Capital Gains Scheme, 1988, Deposits from Cooperative banks and NRO Deposits.

4. Mybank Surakshana and SBM Tax Saver scheme will also carry an interest rate of 9.00%

  Interest rates for Deposits (Rs 1.00 Cr to Rs 5.00 Cr) (With effect from01.09.2014)

PERIOD

RATE OF INT (%)

7-45 days 8.00
46-90 days 8.00
91-179 days 8.00
180-269 days 8.25
270-364 days 8.50
1 year 9.05

 

Interest Rates  for Deposits above Rs.5.00 crores 

                 RATES VALID FOR (30/08/2014)

PERIOD

RATE OF INT (%)

07 – 14 Days

8.00

15 – 45 Days

8.00

46 – 90 Days

8.00

91 – 179 Days

8.00

180 – 269 Days

8.50

270 – 363 Days

8.50

364 days

8.50

1 Year

9.10

Above 1 Year to 2 Years

9.00

Above 2 Years to 5 Years

9.00






 

 In respect of premature withdrawal of domestic deposits of Rs.1 crore and above following instructions will apply.

a. Deposits of Rs.1.00 crore and above and upto Rs.10.00 crores : Premature withdrawal is permitted. However, no interest will be paid if the premature withdrawal takes place within and inclusive of 15 days. If the premature withdrawal is made after 15 days, interest will be paid at 1% below the rate of interest applicable for the period the deposit has remained with the Bank or 1% below the contracted rate , whichever is lower .

 

b. Deposits above Rs.10.00 crores : Premature withdrawal is permitted. However, no interest will be paid if the premature withdrawal takes place within and inclusive of 15 days. If the premature withdrawal is made after 15 days, interest will be paid at 2% below the rate of interest applicable for the period the deposit has remained with the Bank or 2% below the contracted rate, whichever is lower.

Top

 

     INTEREST RATES ON ADVANCES

The existing and revised rates of interest (with effect from 16.11.2013)

which are linked to BASE RATE are as under

 

1. Interest on existing advances under the fixed rates of interest category shall continue to be charged at the agreed rate.

2. All existing loans linked to BASE RATE under floating rates shall be charged as under:

 

HOUSING LOAN(Term Loan)

For all Tenors [Max. 30 years]

LIMIT

Upto Rs. 75 lakhs

Above Rs. 75 lakhs

[BR+0.05%] =  10.30%

[BR+0.15%] =  10.40%

SBM Maxgain (Overdraft)

[BR+0.05%] =  10.30%

[BR+0.15%] =  10.40%

Car Loan (New Car)

Upto & inclusive of 7 years

[BR+0.50%] =  10.75%

Car Flex (Overdraft)

Upto & inclusive of 7 years

[BR+3.00%] =  13.25%

Used Cars

Upto 3 years

[BR+6.50%] =  16.75%

3 years Upto 5 years

[BR+7.25%] =  17.50%

Two Wheeler Loan

Upto 5 years

[BR+6.50%] =  16.75%

Education loans

(0.50% concession for Girl students sanctioned on or after 01.04.2009)

Upto Rs. 4.00 lakhs

[BR+3.25%] =  13.50%

Rs. 4.00 lakhs to Rs. 7.50 lakhs

[BR+3.00%] =  13.25%

Above Rs. 7.50 lakhs

[BR+1.75%] =  12.00%

IBA Model Loan Scheme for Vocational Education & Training

[BR+3.25%] =  13.50%

Mybank Scholar

Term loan

[BR+1.75%] =  12.00%

Udyogi Gnanamitra

Term loan

[BR+4.00%] =  14.25%

All Purpose Mortgage loan

Over Draft

[BR+5.75%] =  16.00%

Term loan

[BR+5.25%] =  15.50%

Mybank Home Cash

Term loan 

[BR+5.25%] =  15.50%

Over Draft 

[BR+5.75%] =  16.00%

Personal Gold loan (30% margin) 

 

[BR+2.35%] =  12.60%

Personal Gold loan (25% margin) 

Salaried class

[BR+1.85%] =  12.10%

Personal loan

Upto 3 years

[BR+7.25%] =  17.50%

Xpress Credit

Customers having salary account with Corporate Salary Package

With Check off

[BR+3.75%] =  14.00%

Customers having Salary Account without Corporate Salary Package

With Check off

[BR+3.75%] =  14.00%

Customers having Salary Account without Corporate Salary Package Scheme

Without Check off

[BR+4.25%] =  14.50%

For Others(Without Salary Account with us/Corporate Salary Package)

Without Check off

[BR+6.75%] =  17.00%

SCHEME

R O I

SCHEME

R O I

Mybank Arakshak(Police)

[BR+6.00%] =  16.25%

BDA Site purchase

[BR+5.25%] =  15.50%

Mybank Adhyapak(Teacher)

[BR+6.00%] =  16.25%

Varshavahini (upto 5yrs)

[BR+1.50%] =  11.75%

Mybank Utsav

[BR+6.50%] =  16.75%

Consumer Durables

[BR+7.25%] =  17.50%

Loan against Shares/UTI

[BR+7.50%] =  17.75%

Helpage (Pensioner loan)

[BR+4.50%] =  14.75%

Loan against NSC/RBI Relief Bond/KVP/IVP/SBI Life Policy/SBI Magnum/LIC Policy.

 

[BR+4.25%] =  14.50%

Clean Overdrafts

[BR+7.25%] =  17.50%

Reverse Mortgage loan

(Fixed Rate)

Public - 11.25%

Staff    - 10.75%

 

 TOP

Interest Rates on Advances made to MICRO & SMALL ENTERPRISES

MSME SEGMENT ADVANCES :MSE schematic products w.e.f 16th November 2013 (Base rate 10.25%)

1.INTEREST RATES FOR MICRO & SMALL ENTERPRISES ADVANCES TO INDUSTRY AND SERVICE SECTOR

All Interest rates, Base Rates expressed in % p.a 

1.a  SME Four wheeler  (New Vehicle)

Existing

(BR 10.15)

Revised

(BR 10.25)

Remarks

BR+0.60=10.75

BR+0.60=10.85

(Available only to existing borrowers with extension in charge on security with the Bank)

 

1.b SME Four Wheeler  Loan (Used Vehicles)

Period

Existing interest

Revised interest rate

(Base rate 10.25)

Upto 3 years

BR+7.00=17.15

BR+7.00=17.25

Above 3 years and upto 5 years

BR+7.50=17.65

BR+7.50=17.75

 

2.Rice Mill Plus, Dall Mill Plus/Oil Mills/ Cotton & Ginning Mills etc

(Food Processing Industries listed as per circular No. SME 37/2011-12 dated 12.03.2012)

 1.a. Limits below Rs.25 lacs with simple scoring model and CGTMSE Cover

 

Score

Existing

Revised  (BR 10.25)

With CGTMSE

55 and above

 

BR+0.10=10.25

BR+0.10 =10.35

40-54

BR+0.85=11.00

BR+0.85 =11.10

 

 b. Limits of Rs.25 lacs & above and upto Rs.100 lacs

EXISTING (BR 10.15)

Revised  (BR 10.25) wef 16.11.2013

with CGTMSE

with CGTMSE

SB 1-5

SB 6-10

SB 1-5

SB 6-10

BR+0.10  =10.25

BR+0.85 =11.00

BR+0.10  =10.35

BR+0.85 =11.10


All existing loans with collateral security under this slab should be covered under CGTMSE at the time of next renewal. Interest for existing  loans will attract 0.50% over and above rates applicable to loans with CGTMSE coverage till the date of renewal in case of working capital limits and till closure of the loan in case of term loans (over and above tenor premium in case of term loans)

 

1.c. Limits Above Rs.100 lacs (for working capital & Loans upto 3 years with CRA)

Existing (BR 10.15)

Revised (BR 10.25)

CRA  Rating

Interest rate based on

collateral coverage

CRA  Rating

Interest rate based on

collateral coverage

 

=>75%

 

=>50% but<75%

 

=>75%

 

=>50% but< 75%

SB 1  to 5

BR+0.10= 10.25

BR+0.35=10.50

SB 1  to 5

BR+0.10= 10.35

BR+0.35=10.60

SB 6 to 10

BR+0.85=11.00

BR+1.10=11.25

SB 6 to 10

BR+0.85=11.10

BR+1.10=11.35


d. ADDITIONAL TENOR PREMIUM  for Loans ABOVE 3 yearsis as per column 17 (a)


3. SBM DOCTOR PLUS

a.  Below Rs.25.00 lacs with scoring model (without CRA)

Score

Existing (BR 10.15)

Revised  (BR 10.25)

With CGTMSE

55 and above

BR+1.35=11.50

BR+1.35=11.60

40-54

BR+1.85=12.00

BR+1.85=12.10

 

b.  Rs.25.00 lacs and above and upto Rs.5 crores with CRA

Existing (BR 10.15)

Revised (BR 10.25)

CRA

With CGTMSE Upto Rs.1.00 cr

With Collat. Security

CRA

With CGTMSE Upto Rs.1.00 cr

With Collat. Security

=>50%

<50%

=>50%

<50%

SB 1 TO 5

BR+1.35=11.50

BR+1.35 =11.50

BR+1.85 =12.00

SB 1 to 5

BR+1.35=11.60

BR+1.35 =11.60

BR+1.85 =12.10

SB 6 TO 10

BR+1.85=12.00

BR+1.85 =12.00

BR+2.35 =12.50

SB 6 to 10

BR+1.85=12.10

BR+1.85 =12.10

BR+2.35 =12.60

 

c. ADDITIONAL TENOR PREMIUM for Loans ABOVE 3 yearsis as per column 17 (a)

 

4. SME Smart Score :  (Max finance : Rs.100 lacs)

Existing (10.15)

Revised (BR 10.25)

Limit

Scoring/Rating

With CGTMSE

 

With CGTMSE

 

Rs.5 lacs &  upto

Rs. 10 lacs

55 and above

BR+1.25=11.40

 

BR+1.25=11.50

 

> Rs.10.00 lacs but  <Rs.25.00 lacs

40 to 54

BR+1.50=11.65

 

BR+1.50=11.75

 

Rs. 25 lacs and

upto Rs.100lacs*

SB 1 to 5

BR+1.25=11.40

 

BR+1.25=11.50

 

SB 6- 10

BR+1.50=11.65

 

BR+1.50=11.75

 

 

4 a. ADDITIONAL TENOR PREMIUM  for Loans ABOVE 3 years is as per column 17 (a)

 

 

5.  LIBERALISED TRADE FINANCE   (Min. > Rs.10 lacs, Max: Rs. 500 lacs)

Facility

Existing

Revised  (BR 10.25)

Cash Credit (SBF)

BR+3.10=13.25

BR+3.10=13.35

Term Loan (SBF)

BR+3.35=13.50

BR+3.35=13.60

6. Beverages Corporation Scheme (for financing retailers of KSBC Ltd)

(Max finance :  Rs. 25 lacs)

Value of Security

Existing (BR 10.15)

Revised  (BR 10.25)

> 100%

BR+2.35 = 12.50

BR+2.35 = 12.60

> 50% and upto 100%

BR+2.85 = 13.00

BR+2.85 = 13.10

> 25% but < 50%

No finance

No finance

 

7. Contractor Plus Max. finance : Rs. 100 lacs(For Class I Contractors only)

 

 

Existing(BR 10.15%)

Revised (BR 10.25%)

 

With CGTMSE

with collateral

With CGTMSE

with collateral

For Class I Contractors only

BR+2.85 =13.00

BR+3.60 =13.75

BR+2.85 =13.10

BR+3.60 ==13.85


8. Mortgage Plus (Min. finance : Rs.50 lacs and Max : Rs. 750 lacs)

(sanctioning of limits to be based on cash flows to ensure prompt repayment)

 

Existing

Revised

(BR 10.25)

Term Loan  SBF

BR+3.35=13.50

BR+3.35=13.60

Over draft - SBF

BR+3.85=14.00

BR+3.85=14.10

 

Other MSE schemes/products

9. MSE Welcome

Existing

Revised

11.50% (Fixed) during the I year

11.50% (fixed) during the I year

12.25% (fixed) during the II year

12.25% (fixed) during the II year

Applicable floating rate from third year onwards

Applicable floating rate from third year onwards


10.   Force Motors Ltd

Term Loans

 

Existing interest rate

Revised interest rate

(Base rate 10.25)

Loans upto Rs.2.00 lacs

BR+4.25=14.40

BR+4.25=14.50

Above Rs.2.00 lacs to Rs.10.00 lacs

BR+5.00=15.15

BR+5.00=15.25

Above Rs.10.00 lacs

BR+5.25=15.40

BR+5.25=15.50

First Time Users

 

 

Up to Rs.5.00 lakh

BR+5.75=15.90

BR+5.75=16.00

Above Rs. 5.00 lakh to Rs. 10.00 lakh

BR+6.25=16.40

BR+6.25=16.50


11.  Man ForceTrucks(P) Ltd.

For existing customers

Existing interest rate

(Base rate 10.15)

Revised interest rate

(Base rate 10.25)

Upto Rs. 10.00 lacs

BR+4.50=14.65

BR+4.50=14.75

Above Rs.10.00 lacs

BR+5.50=15.65

BR+5.50=15.75

First time Users

 

 

Upto Rs. 10.00 lacs

BR+5.00=15.15

BR+5.00=15.25

Above Rs.10.00 lacs

BR+6.00=16.15

BR+6.00=16.25


12.  MYBANK-SURYAKIRAN

Period

Existing  Rate

Revised Rate

Upto 5 years

5.00 (Fixed)

5.00 (Fixed)

13.  Weavers credit card

 

Weavers credit card

Existing rate of interest

(Base Rate 10.15)

Revised rate of interest

Base Rate 10.25

BR+0=10.15

Br+0=10.25


14. MYBANK-solar water heating system

 

 

Existing interest rate

Revised interest rate)

(Base rate 10.25)

Pattern I

Subsidy 30% of the Bench mark & Bank loan 50%

BR + 0 = 10.15

BR+0=10.25

Pattern II

Subsidy Nil

bank Loan 80%

5%

5%


15.  MYBANK-Homestay

Type of loan

Existing interest rate

(Base rate 10.15)

Revised interest rate

Base Rate 10.25

Composite Term Loan

BR+1.00 = 11.15

BR+1.00= 11.25


16.a. MYBANK SHOPPE (As applicable to MSME advances)

Type of Loan

Existing interest rate (10.15)

Revised interest rate (BR 10.25%)

Term Loan

With CGTMSE

Without CGTMSE

With CGTMSE

Without CGTMSE

Up to Rs.10 lacs

BR+1.25=11.40

BR+1.25=11.40

BR+1.25=11.50

BR+1.25=11.50

Above Rs.10 lacs and upto Rs.20 lacs

BR+1.75=11.90

BR+2.25=12.40

BR+1.75=12.00

BR+2.25=12.50

 

17.a. ADDITIONAL TENOR PREMIUM as under for loans above 3 Years

 

Tenor

Existing

Revised (No change)

>3years and upto 5 years

25bps

25bps

>5years and upto 7 years

50bps

50bps

 

Interest Rates on MSE advances (BR 10.25%)

Interest rates expressed in % p.a.

 For credit limits below Rs.25.00 lacs.

1.a. Working capital and Loans with tenor upto 3 years:

Existing rate wef 04.03.2013

(BASE rate 10.15)

Revised rate wef 16.11.2013

(BASE rate 10.25)

Size of  credit

With

CGTMSE

Without

CGTMSE

 

With CGTMSE

 

Without CGTMSE

Limit

Upto Rs.10 Lacs

BR+1.25=11.40

BR+1.25=11.40

BR+1.25=11.50

BR+1.25=11.50

Above Rs.10 lacs but

below Rs.25 lacs

BR+1.75=11.90

BR+2.25=12.40

BR+1.75=12.00

BR+2.25=12.50


1.b. Term loans with tenor beyond 3 years: Additional tenor premium over and

above revised rates will be charged as per column 2 (b)

 2.  For credit limits of Rs.25.00 lacs and above with CRA  Rating 

2.a. Working capital and Term loans with tenor up to 3 years

Existing wef. 04.03.2013

(Base Rate 10.15)

Revised wef. 16.11.2013

(Base Rate 10.25)

CRA Rating

With CGTMSE

Without CGTMSE

With CGTMSE

Without CGTMSE

SB 1, 2 & 3

BR+1.75=11.90

BR+2.00=12.15

BR+1.75=12.00

BR+2.00=12.25

SB 4,5 & 6

BR+2.25= 12.40

BR+2.50=12.65

BR+2.25= 12.50

BR+2.50=12.75

SB 7,8 & 9

BR+2.75= 12.90

BR+3.25=13.40

BR+2.75= 13.00

BR+3.25=13.50

SB 10

BR+3.50=13.65

BR+4.25=14.40

BR+3.50=13.75

BR+4.25=14.50

SB 11 to 16

BR+4.75= 14.90

BR+5.25=15.40

BR+4.75= 15.00

BR+5.25=15.50

 

2.b. Term loans with tenor beyond 3 years: Additional tenor premium over

and above revised rates will be charged as follows.

Repayment period

Existing

Revised Tenor Premium

Above 3 years but below 5 years

25 bps

25 bps

5 years and above but less than 7 years

50 bps

50 bps

 

2. c.  Concession in interest rate @ 0.50% on the revised rates shall be extended to credit limits above Rs.10 lacs secured by Non – Agricultural collateral security with realizable value =>75% of credit limit.

The concession, over and above the revised rates, as indicated in para 1.c annexure 1 and para 2.c of annexure 2 above will be subject to the undernoted stipulations/conditions

1.  Available only to units with CRA rating above the hurdle SB-10.  Credit limits with CRA rating of SB11-16 are NOT eligible for the concession.

2. The value of tangible collateral security refers to realizable value of such securities (and NOT market value) available by way of non-agricultural immovable property with or without cash and other specific liquid securities. Such realizable value should be 75% or more.

 

OTHER CONDITIONS:

1.  Limits up to Rs.100 lacs are to be MANDATORILY covered under CGTMSE (SME Circular No.5 / 12-13 dated 18.05.2012)

2.  For all loans above Rs. 5 crores under Manufacturing and Service sector – interest rate will be as applicable to C&I segment.

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AGRICULTURAL RATE OF INTEREST W.E.F 12-02-2014.

(A) SHORT TERM LOANS UP TO 3 YEARS / CROP LOANS.

AMOUNT

RATE OF INTEREST ( % )

Up to Rs. 5 Lakhs

11 *

Above Rs.5 lakh and  below Rs.25 lakh

12.5

Rs. 25 Lakhs and above

(based on Credit Rating )

12     to    16.50

* In case of Crop Loans and loans to Woman SHG eligible for Interest Subvention, 7 % interest is applicable up to limit of Rs. 3 Lakhs . Further subsidy of 3 % interest is available to those farmers / Women SHG who repay the limits promptly as per terms of loan, making up effective rate to 4 %.

(B)

AGRI TERM LOANS  ( above 3 years )

AMOUNT

RATE OF INTEREST ( % )

Up to Rs.  5  Lakhs

11.25

Above Rs. 5 Lakhs below  Rs.25 Lakhs

12.75

Rs. 25 Lakhs and above.

(Based on Credit Rating)

12.25    to    16.75

(C)

VEHICLE LOAN TO AGRICULTURISTS UNDER “KISAN CHAKRA”

AMOUNT

RATE OF INTEREST (%)

Upto Rs. 10  Lakhs.

10.75%

(D)

ADVANCE TO DEALERS IN FERTILISERS/ PESTICIDES/FEEDS AND OTHER AGRI INPUTS.

AMOUNT

RATE OF INTEREST (%)

Less than Rs. 25  Lakhs

11.75

Rs. 25 Lakhs  and up to  Rs. 5 Crore based on the CRA

11.75    to    15.75

(E)

AGRI GOLD LOAN ( Rate of Interest w .e f 20.01.2014 )

AMOUNT

RATE OF INTEREST

Up to Rs. 5 Lakhs *

10.50

Above Rs.5 Lakhs and up to Rs. 15 Lakhs.

10.60

* In case of loans against Gold Ornaments, for the purpose of cultivation of crops up to Rs. 3 Lakhs, which are eligible for interest subvention, 7 % interest will be charged. Further 3% interest subsidy is available if these loans are repaid promptly as per terms of sanction.

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NRE Term / Reinvestment Deposit account( w e f  01-03-2014)

PERIOD OF DEPOSIT

INTEREST   RATE ( % p.a.)

Existing

Revised

1year and above up to 2 years

9.00

9.00

Above 2 years and up to 3 years

9.00

9.00

Above 3 years  and  up to 5 years

9.50

9.00

Above 5 years

9.25

9.00

i)The revised rates are applicable to fresh deposits and on renewal of maturing deposits.Note: All these interest rates are subject to change without notice. The revised interest rates are applicable only on fresh deposits and renewal of maturing deposits.

ii)  In case of Premature withdrawal:

  1. No interest is payable if the deposit is withdrawn before one year
  2. In other cases of premature withdrawal, the interest paid shall be 1.00% below the rate
    applicable for the period the deposit has remained with the Bank or 1.00% below the
    contracted rate, whichever is less.

Interest Rates on FCNR(B) deposits with effect from  01.08.2014

 

PERIOD

RATE OF INTEREST (% p.a. )

EXISTING w.e.f.  01.07.2014

REVISED w.e.f. 01.08.2014

USD

GBP

EUR

CAD

AUD

 

USD

GBP

EUR

CAD

AUD

1 Year & above but less than 2 Years

2.55

3.04

2.44

3.50

4.66

 

2.36

2.85

2.32

3.47

4.65

2 Years & above but less than 3 years

2.58

3.34

2.33

3.45

4.78

 

2.76

3.37

2.34

3.44

4.78

3 Years & above but less than 4 years

4.01

4.71

3.40

4.64

5.93

 

4.21

4.73

3.41

4.63

5.94

4 Years & above but less than 5 years

4.39

4.98

3.51

4.81

6.15

 

4.61

5.00

3.52

4.80

6.18

5 Years only

4.68

5.18

3.67

4.99

6.31

 

4.90

5.19

3.66

4.96

6.30

Interest Rates on RFC deposits with effect from 01.08.2014

PERIOD

 

RATE OF INTEREST (% p.a.)

EXISTING (01.07.2014)

REVISED(01.08.2014)

USD

GBP

EURO

USD

GBP

EURO

Current Account

No Interest

 

No Interest

Savings Bank A/c

0.75

2.50

1.25

 

0.75

2.50

1.25

Term Deposits:

 

 

 

3 months & above,

less than 6 months

1.48

1.80

1.43

 

1.49

1.81

1.43

6 months & above

less than 1 year

1.58

1.95

1.52

 

1.58

1.97

1.52

1 year & above but

less than 2 years

2.55

3.04

2.44

 

2.36

2.85

2.32

2 years & above but

less than 3 years

2.58

3.34

2.33

 

2.76

3.37

2.34

3 years & above but less than 4 years

4.01

4.71

3.40

 

4.21

4.73

3.41

4 years & above but less than 5 years

4.39

4.98

3.51

 

4.61

5.00

3.52

5 years only

 

4.68

5.18

3.67

 

4.90

5.19

3.66

 
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State Bank of Mysore,
H .O.: K.G.Road,
Bangalore - 560254, INDIA.
Phone (EPABX): 91 80 22353901 (30 lines of PRI)
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