RBI Guv Raghuram Rajan launches Indian Bank's mobile branches

Jul 12 2014, 17:57 IST
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SummaryThe bank already operates eight mobile branches providing banking services in 70 villages.

As part of the urban financial inclusion initiative by public sector Indian Bank, two mobile branches with ATM facility was launched here by RBI Governor Raghuram G Rajan.

Rajan recently launched two mobile branches with ATM facility 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 Chennai-based Indian Bank said in a release today.

According to Indian Bank Chairman and Managing Director T M Bhasin, the bank already operates eight mobile branches providing banking services in 70 villages.

He said 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.

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