Indian Bank meets payment needs of customers in 2.11 cr

Public sector Indian Bank has met the payment needs of customers in 2.11 crore transactions with total amount of Rs 10,986 crore till December 16 post-demonetisation, the bank said today.
Chennai-headquartered bank recorded 1.17 crore of transactions across its branches depositing Rs 29,116 crore during the period, Indian Bank Managing Director and CEO M K Jain said in a statement.
"Since the date of demonetisation was announced (November 8) till December 16, Indian Bank met the payment needs of customers in 2.11 crore transactions with total amount of Rs 10,986 crore," he said.
Through the banking correspondents, Jain said 22.69 lakh transactions were carried out in non-banking areas.

On disbursal of cash through ATM networks, he said ATMs across the country dispensed Rs 1,130 crore in 59.57 lakh transactions between November eight and December 16.
Besides providing normal banking service, Jain said special counters were set up and 4,973 special camps were conducted to meet banking needs of customers including senior citizens and women.
"About 13 lakh non-customers (of the bank) exchanged Specified Bank Notes valued at Rs 456 crore," he said.
On cash crunch faced by the bank, he said it is being met with as supply of cash was fast improving.