Public sector Indian Bank on Saturday rolled out IB SAATHI (Sustainable Access and Aligning Technology for Holistic Inclusion), an initiative aimed at providing an integrated ecosystem for all stakeholders in the financial sector through the business correspondent route.
The IB SAATHI provides an improved user experience by simplifying the delivery of services, which includes both essential and additional offerings for customers. The bank's Managing Director and CEO S L Jain launched the initiative at their corporate office in Chennai.
Indian Bank aims to offer basic banking services
With the introduction of this scheme, Indian Bank aims to offer basic banking services at all of its branches for a minimum of four hours per day. Additionally, Banking Correspondents will provide their services directly to customers at their doorsteps.
Indian Bank has set a target to deploy approximately 5,000 banking correspondents by March 2024, which is anticipated to significantly enhance the bank's reach and accessibility to customers.
Indian Bank offers 36 different services to customers
The city-based lender currently has 10,750 banking correspondents and 10 Corporate Business Correspondents. This number is expected to increase to over 15,000 banking correspondents and 15 Corporate Business Correspondents as part of their expansion plans.
Currently, Indian Bank offers 36 different services to customers through its Banking Correspondent channel over 60 services will be added during the financial year 2024-25.
(With PTI inputs)
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