Indian Bank to set up 9 more branches in Vizag zone

Indian Bank is setting up nine more branches in the Visakhapatnam zone and is also focussing on financial inclusion to take banking services to villages, according to Chief Manager M. Sudhakar Reddy.

He said here on Sunday that the bank was adding nine more branches to the existing 62 in the zone covering Srikakulam, Vizianagaram, Visakhapatnam, East Godavari and West Godavari districts.

Branches would be opened at Gopalapatnam in the city, Chitrada near Kakinada and at Tantikonda near Gokavaram in East Godavari before September.

“We are opening branches at Anandapuram near Vizag and Penumantra near Tanuku (West Godavari), and also at Rajahmundry, Sarpavaram, Draksharamam and Jaggampeta in East Godavari. These branches would be set up before the end of the financial year,” he said.

Sudhakar Reddy said the bank was setting up 52 ultra small branches in villages with population above 2,000 and business correspondents in 153 villages with population below 2,000. The bank has advances of Rs 2,500 crore and deposits of Rs 2,300 crore in the zone.

sarma.rs@thehindu.co.in

Source: thehindubusinessline