This Article is From Jul 12, 2014

Indian Bank Launches Mobile Branches With ATM Facility in Chennai


As part of the urban financial inclusion initiative by Indian Bank, Indian Bank has launched two mobile branches with ATM facility in Chennai.

The branches were launched by Reserve Bank of India Governor Raghuram Rajan.

Mr Rajan recently launched two such branches to provide banking services in areas of Royapuram, Tiruvotriyur, Tondiarpet in North Chennai, and Kannagi Nagar, Thanthai Periyar Nagar and Semmencherry in South Chennai, the public sector lender said in a release on Saturday.

The Chennai-based bank already operates eight mobile branches providing banking services in 70 villages, chairman and managing director T M Bhasin said, adding that two more similar mobile branches with ATM facility would be launched soon in Mumbai and New Delhi.

Under the financial inclusion initiative, Indian Bank has provided banking services to 5,098 villages. Of which, 4,934 villages have been covered through smart card enabled business correspondent model, the release said.