Money & Banking

IDBI Bank to launch e-huts for services in rural areas

Our Bureau Panaji | Updated on January 23, 2018 Published on May 19, 2015

IDBI Bank is set to expand its branch network to 2,000 by the end of the current year from 1,740 now, besides rolling out e-huts to provide services to people in rural areas.

Addressing a press conference, Deputy Managing Director of IDBI Bank Melwyn Rego said the bank has introduced e-lobbies, which are next to branches, across the country.

E-hut is a western concept and is set up at relatively populated areas, such as malls.

Rego, who was in Goa to inaugurate two branches, was accompanied by Chief General Manager Pradip Kumar Das and Regional Head Shashank Dixit. The bank has 3,100 ATMs across the country.

Rego said the bank focuses on retail banking, predominantly financing housing, automobile, education and medium, small and micro enterprises (MSMEs). It is slowly shifting focus to the corporate sector.

Business growth

IDBI Bank has registered 22 per cent growth in CASA (Current Account, Savings Account) business as against the industry growth of 12-13 per cent, he added.

Though Rego declined to go into details of profitability and NPAs ahead of its Board meeting, he said the economic cycle is down at this juncture, even as expectations are quite high for the near future.

Published on May 19, 2015
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