Indian Bank plans to open 1,525 small branches

Indian Bank, a nationalized bank in India, plans to open 1,525 new ultra small branches across the country in the next two years in order to strengthen the network of Business Correspondents appointed under the financial inclusion scheme.

The Chairman and Managing Director (CMD) of Indian Bank, Mr. T. M. Bhasin said while addressing press persons at Pattamangalam village on Saturday, after the inauguration of the bank’s 850th branch in Tamil Nadu.

Mr. Bhasin also said that the Business Correspondents had become an integral part of the banking system and they did not face any problem from them. They would become part of the ultra small branches that would cater to a population of 2,000 to 3,000. These branches would have a cashier and a development officer.

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