Indian Bank launches IB SAATHI initiative, banking services will increase, customers will benefit


Public sector Indian Bank on Saturday launched ‘IB SAATHI’ initiative to provide an integrated ecosystem for all stakeholders in the financial sector.

The bank said in a statement that the ‘IB Sustainable Access and Aligned Technology for Total Inclusion’ (SAATHI) initiative seeks to provide a better experience to customers in providing basic and advanced banking services. Banking representatives will play an important role in this.

The bank’s Managing Director (MD) and Chief Executive Officer (CEO) S L Jain launched the initiative at the corporate office. Through this initiative, Indian Bank intends to provide basic banking services for a minimum of four hours per day in certain designated branches while its banking representatives will provide services directly at the doorstep of customers.

Customers get 36 different services

Indian Bank plans to deploy around 5,000 banking representatives by March 2024 and this is expected to increase the reach and availability of the bank. This public sector bank currently has about 10,750 banking representatives and 15 corporate business representatives.

The release said that currently, the bank provides 36 different types of services to customers through the Banking Correspondent channel and more than 60 services will be added during the financial year 2024-25.

Indian Bank has extended the investment time in special FD schemes named Ind Super 400 and Ind Supreme 300 days offering higher interest rates . . The last date for investment in these has been extended by the bank till 31 October 2023. Industries Super 400 Days- This special FD offers higher interest rates for 400 days on investments ranging from Rs 10000 to less than Rs 2 crore. Indian Bank will now offer interest rates of 7.25% to the general public, 7.75% to senior citizens and 8.00% to very senior citizens.