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: helping self help groups (SHGs). During the nine-month period, the bank has disbursed Rs 500 crore as credit assistance to 46,877 SHGs.
Other focus areas would be to increase its market share both in deposits and credit, improving the profitability and recovery of impaired assets. The outstanding under educational loans at the end of last year was Rs 1,049.41 crore.
Indian Bank is also planning to enter the wealth management space. “We have plans to open specialised branches for high net-worth individuals.” The bank would also be intensifying its IT penetration drive with the objective of achieving efficiency in operations and for smooth transition to Basel II norms.
At the end of last year, 1,370 branches had been brought under the ambit of core banking solutions. The bank has also developed an online smart card banking model which enables certain basic banking transactions such as cash receipts, cash payments, transfer transactions, balance enquiry, and statement of accounts.
Indian Bank is planning to open 200 more branches within the course of the next two years. The bank is also venturing into periphery banking; the suburban real estate boom is forcing many banks to open new branches in suburban locations. “Indian Bank has always been viewed as a south-based bank. We would now like to expand our operations and set up more branches in north and east India,” concludes Sundara Rajan....
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