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500 kiosks will be set up: Indian Bank chief

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Centenary: Indian Bank CMD M. S. Sundara Rajan speaking at the bank’s centenary celebrations in Vellore on Sunday.
Centenary: Indian Bank CMD M. S. Sundara Rajan speaking at the bank’s centenary celebrations in Vellore on Sunday.

Special Correspondent

Bank’s centenary celebrations held in Vellore

VELLORE: Indian Bank proposed to set up 500 kiosks all over the country to enable its customers to make easy transactions using the internet. The bank has sought permission of the Reserve Bank of India to establish them, according to its Chairman and Managing Director M.S. Sundara Rajan.

Once the proposal was approved, the kiosks would be set up in all States, Mr. Sundara Rajan said. The bank had introduced Smart Cards for its customers in the Vriddachalam and Dharavi branches. Under the scheme, the bank staff would visit customers at their doorsteps, take their photographs, scan them and issue Smart Cards then and there.

By swiping the card in the kiosk set up on the bank premises, the account-holders could make transactions. The scheme would be extended to all over the country, he said while participating in the centenary celebrations of Indian Bank organised by the bank’s Vellore Circle Office at Sangamam Marriage Hall here on Sunday.

The CMD said the bank would play its role in enabling the nation to achieve an economic growth rate of 10 per cent. “It is necessary to improve skills of youth to achieve this, which is possible only through education. Indian Bank wants to facilitate youth to have access to higher education by providing them more education loans.”

Mr. Sundara Rajan said that the bank would join hands with the VIT University to introduce several schemes in the district, which included assistance to entrepreneurs to set up small-scale and medium industries.

The bank had already started a loan scheme in association with the firm Bosch under which it provided loans to carpenters, electricians, autorickshaw mechanics and plumbers, enabling them to set up ancillary units to supply components to Bosch. A similar scheme would soon be introduced in the Vellore circle, he noted.

The CMD said that the bank had invested Rs.200 crore for introducing core banking solutions to facilitate “anywhere banking”.

Vellore Collector Dharmendra Pratap Yadav called upon Indian Bank to provide more educational and crop loans.

G. Viswanathan, Chancellor of VIT University, appealed to all to open a bank account. At present, only 70 per cent of the people had accounts. M. Kathiresan, Circle Head, Indian Bank, Vellore, said that the 75 branches in Vellore Circle had deposits and loans totalling about Rs.1,600 crore. Out of the 75 branches, 38 had CBS facility, which would be introduced in the remaining branches soon, he noted.

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