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Dec 14 2012, 02:12 IST
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SummaryThe largest private sector lender, ICICI Bank, said it has launched 101 gramin branches in six rural states, as it looks to increase its presence in areas where banking facilities are not available.

ICICI Bank opens 101 rural branches

The largest private sector lender, ICICI Bank, said it has launched 101 gramin branches in six rural states, as it looks to increase its presence in areas where banking facilities are not available. The branches will offer basic banking services, such as savings bank account, fixed and recurring deposit, remittances, Kisan Credit Card, traditional credit cards and tractor loans, and will be open for four hours for six days in a week. Each of the gramin branch will have at least three employees and will initially not have ATMs attached to the branch. ICICI Bank now has about 400 rural branches, with 5,000 customer service points covering 10,000 villages in the country. In a conference call with reporters, Rajiv Sabharwal, executive director of ICICI Bank, said opening of each branch cost R4.5 lakh. The branches have been opened in 19 remote districts across Maharashtra, Rajasthan, Andhra Pradesh, Gujarat, Madhya Pradesh and Tamil Nadu.

RBI to hold rates on December 18: Poll

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Credit Agricole sees R at 52 by 2013 end

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