Indian Bank opens branch in Jaffna

Indian Bank today opened its second branch in Jaffna, Sri Lanka, taking its international presence to three following its existing branches in Singapore and Colombo. The branch was inaugurated by Ashok K Kantha, High Commissioner of India in Sri Lanka.

Indian Bank CMD T M Bhasin said that after the cessation of hostilities, the governments of Sri Lanka and India had been making joint efforts for economic development of the region.

Indian Bank with its 104 years of active market presence and considerable exposure in rural development and microfinance, would try to bring about a positive change in the life of the people of Jaffna.

 

Indian Bank has implemented self-help groups and financial inclusion projects in India and proved that SHG-bank linkage is a worthy tool to be replicated in the rest of the country and in other markets including Jaffna.

Indian Bank has so far credit-linked 3.96 SHGs under SHG-bank linkage programme and during this year, outstanding credit to SHGs has gone up to LKR 50.47 billion (Rs 2,300 crore).

Indian Bank has a pan-India presence with 1,822 branches and 1,087 ATMs. Indian Bank has a total global business of Rs 1.75 lakh crore and the Colombo branch has attained Rs 553.00 crore in December 2010.