RBI approves Indusind Bank's 10 new branches

New Delhi, Nov 2: Indusind Bank Ltd today said it has received fresh authorisation from Reserve Bank of India (RBI) for opening 10 more branches and 100 new off-site ATMs.

As of date, the bank has a network of 147 branches and 84 offsite ATMs spread over 118 geographical locations in 24 states and Union Territories.

The bank had received permission earlier this year to open 11 branches in under-banked centres. Out of these seven branches are operational while the rest will be opened soon.

In the last quarter, the Bank also converted its 8 extension counters into Bank branches for full-fledged banking operations.

The 10 new authorisations for branches relate to semi-urban and rural centres. The Bank plans to open these branches by the end of this financial year.

The Bank also has arrangements with seventeen exchange houses from the UAE, Kuwait, Bahrain, Qatar and Oman to provide convenient, cost-effective, and quick funds-transfer facilities to NRIs.

''This new set of 10 branch licenses and the 100 additional off-site ATM licenses will help us expand our reach substantially,'' Bank's MD and CEO Bhaskar Ghose said.

UNI