INDIAN BANK EYES A SHARE OF NATHULA PIE
GANGTOK, May 23: “We want every individual of Sikkim to have a bank account. This is the primary vision for setting up our bank in Gangtok” said KC Chakraborty, Chairman and Managing Director, Indian Bank, while briefing the press at the inaugural ceremony of Indian Bank here on 21 May.
The Gangtok Branch of the Indian Bank is its 25th branch in the North East, Mr. Chakraborty said, adding that there are 1456 branches of Indian Bank spread all over India with two branches overseas at Singapore and Colombo. 1081 banks are technologically interlinked, he said.
The Bank started its operations in 15 August, 1907 and is celebrating its centenary year with a vision to establish its outlets all over the States in India. The Bank has plans to set up its next two branches in Itanagar, Arunachal Pradesh and Kohima, Nagaland.
The Bank is also a pioneer in financing the Self Help Groups (since 1989) along with other agricultural, housing, schemes. The bank had a remarkable turn over of Rs 76,000 cores during the last financial year. Infact, Bharat Credit Card, one of its kind scheme to reach to the lowest level of society and motivate them towards saving – is yet another feather in the cap of the Bank. Mr. Chakraborty also said that Bare Foot Banking (mobile banking) is operational in many parts of the country.
When asked as what attracted the Bank to set up its branch in Gangtok and its expansion plans, the Chairman said the Bank has taken note of the future prospects of Nathula trade. Investment plan of Indian Bank reveal that 21 percent are invested in agriculture, 50 percent in priority sector and also in education sector.
The Bank also financed nearly 31,000 students all over India during the last financial year to help them pursue their higher educations. The bank equally posses 80 percent share holding from Government of India.
Earlier, the Governor, V Ramarao inaugurated the branch of the Bank here at MG Marg,Gangtok
Sikkim Served Fresh Daily
