| |
 |
Press Release
|
17.03.07
|
| Union Finance Minister launches Indian Bank’s 1000th CBS branch with online, voice guided Biometric ATM and Financial Inclusion
|
Kalayarkoil, Sivagangai District,
Tamil Nadu
Indian Bank, the major south based public sector Bank has brought 1000 branches under Core Banking Solution in less than 1000 days. Hon’ble Union Minister of Finance Shri P Chidambaram inaugurated the Bank’s 1000th CBS Branch at Kalayarkoil Branch in Sivagangai District, Tamil Nadu, today. He also inaugurated the Bank’s networked voice guided Biometric ATM and launched the Financial Inclusion project. This state of the art ATM is the first of its kind in India. He mentioned that with the launch of CBS a customer is not only a customer of this specific branch but also becomes the customer of the entire Bank’s CBS network and can operate his account from anywhere, anytime through multiple delivery channels. The Finance Minister lauded the Bank for having achieved this marvelous landmark in a record time of 816 days.
The Finance Minister appreciated the drive made by Indian Bank to further the Financial Inclusion and also for bringing the Banking technology deep into the rural areas, making a special mention of Biometric ATM put up at Kalayarkoil. With the ‘No frills” account facility of the Bank, even hitherto unbanked people have been brought into the banking fold. He advised the people of the area to open ‘No frills” account which will give them an incentive to save money and also enable them to start their own venture with the help of bank loan.
The Finance Minister expressed his happiness that the Bank has not only initiated this endeavour but also availed of the opportunity to have closer interaction with the people of this area.
The Finance Minister mentioned that the Bank which was in difficulty 10 years back, has proved by sheer determination and business acumen that it has become very strong by the latest IPO.
He also handed over loan sanctions to various beneficiaries. The Bank’s branches in Sivaganga District had sanctioned loans to an extent of Rs.10.20 crore to 1788 beneficiaries.
Dr K C Chakrabarty, Chairman and Managing Director, Indian Bank while addressing the gathering said that Indian Bank had launched its pilot implementation of CBS in two branches on 22/12/2004 and within less than 1000 days has completed implementation in 1000 branches. He also mentioned that the Bank had the privilege of the Hon’ble Finance Minister inaugurating the 501st CBS Branch at Bangalore on 24th March, 2006. The Bank’s objective is to take Banking Technology and to provide all banking services and products at an affordable cost to the common man, he said. All the latest technology will be utilised for bringing out inclusive growth and reaching the unbanked population and make them bankable. He appealed to the customers to utilise advanced technology enabled services to meet their changing needs
Detailing the efforts of Indian Bank in successful implementation of the first pilot project of Financial Inclusion in the Union Territory of Puducherry, Dr Chakrabarty said that the Bank has extended the financial inclusion project in the entire Cuddalore Dist. of Tamilnadu and villages across the country.
The Bank’s first online Biometric ATM will be providing the cash dispensation services in the rural areas by using the biometric device operated with the finger print authentication of the customers. The same ATM would also provide usual services through pin based system..
Dr Chakrabarty, thanked the customers for the faith they had reposed in the bank throughout. The Bank has finally proved that its turnaround is complete with its IPO being oversubscribed more than 32 times, he added.
The Hon’ble Minister for Hindu Religious and Charitable Endowments, Govt. of Tamilnadu, Shri.K.R.Periakaruppan and Shri.S.Gunasekaran, MLA, Sivagangai Constituency appreciated the initiatives taken by Indian Bank in providing Technology enabled services like ATM and CBS in rural areas.
Shri.M.S.Sundara Rajan, Executive Director, Indian Bank welcomed the gathering and Shri. P.Arivanandam, Madurai Circle Head, Indian Bank proposed the Vote of Thanks.
|
|
|
