The Hindu Business Line : `Indian Bank seeking to sustain growth'

Indian Bank, which could achieve total business mix of Rs 63,290 crore during 2005-06, a growth of 18.99 per cent, is seeking to sustain it during the current financial year too, according to the Chairman and Managing Director, Dr K.C. Chakrabarty.

At a press meet here on Tuesday, he said the bank could declare dividend after a gap of 12 years and it had achieved net profit of Rs 504.48 crore during the year. "During the current year, too, which is also the bank's centenary year, we will redouble our efforts to improve the performance of the bank. We will introduce a number of new products to serve the customers better," he said.

He said the bank had more than doubled its disbursement to agriculture in two years and during the past three years it had disbursed Rs 418 crore as educational loans to 37,242 students. It had also lent Rs 400 crore to self-help groups.

Dr Chakrabarty said the bank had launched the national pilot project for financial inclusion scheme in Pondicherry.

"We are implementing the project along with other banks to make available banking services to all people. We hope to cover the whole population in Pondicherry by the end of 2006. We have taken up the project in Cuddalore district in Tamil Nadu. Besides that, a hundred more villages in that State and a hundred more in other States will be covered under the scheme," he said.

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