Indian Bank to offer services in the WB villages: Chairman

Kolkata, Jul 2 (UNI) Indian Bank will provide banking services to all eligible population of 20 villages in Midnapore West and East, Burdwan and Malda districts of West Bengal.

Indian Bank Chairman and Managing Director K C Chakrabarty said here today that this project would make the basic banking 'no frills' accounts with nil or very low minimum balance avalaible to the common people.

''Mangalam village in the Union Territory of Pondicherry is the first village in the country, where the entire population of the village, had been brought under the ambit of banking services,'' Mr Chakrabarty said adding the project would be replicated in West Bengal as well.

The bank has 55 branches with 10 rural, four semi-urban, 16 urban, and 25 metro branches in the state with a total business of Rs 2,608 crore.

Speaking about educational loans, Mr Chakrabarty said, ''No deserving poor will be deprived of education facilities. The bank disbursed educational loans amounting to Rs 260.14 crore this year to 24,809 students compared to Rs 109.30 crore to 9552 students in 2004-05.'' ''We aim to make technology banking available to the common man,'' he added. To achieve this goal, the bank has launched an exclusive credit card, namely Bharat Card.

Mr Chakrabarty said the bank has also introduced a variety of low cost insurance products, covering both life and personal accident for its account holders.

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