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Thursday, December 13, 2012

ICICI Bank opens 101 rural branches across six states

ICICI Bank today opened 101 rural branches across six states as part of its financial inclusion plan that aims at providing banking services in unbanked villages.

These 'Gramin' branches will offer all the basic banking services such as savings bank account, fixed and recurring deposit, remittances, Kisan Credit Card, credit cards and tractor loans, ICICI Bank Executive Director Rajiv Sabharwal said here.

These branches were formally inaugurated in 19 districts across the states of Rajasthan, Andhra Pradesh, Gujarat, Maharashtra, Madhya Pradesh and Tamil Nadu, he said, adding, all these branches have been opened in small villages, which were so far devoid of any banking facility.

"We will continue our financial inclusion agenda in the years to come. It is our endeavor to expand financial inclusion of farmers by at least 10 times from approximately 3.5 lakh last year to 35 lakh by FY 2017," he said.

The country's largest private sector bank, he said, has also opened close to 2 million 'no frill' savings accounts this year taking the total number to around 12 million 'no frills' accounts, which is a key part of financial inclusion strategy.

As of November, ICICI Bank had 413 such rural branches across and with the addition of over 100 branches, it has crossed 501, he added.

Source: Economic Times


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