Indian Bank, the lead bank in Krishnagiri , is expanding its operations in the un-banked villages in the district. District Collector T.P. Rajesh inaugurated the 32nd branch (51st in the Dharmapuri zone) in Perandapalli and 33rd branch (52nd in the zone) in Belathur village in Krishnagiri district on Friday.

Speaking at the function, Mr. Rajesh appealed the villagers to develop the habit of saving money by availing the banking services.

“Over Rs. 1500-crore are being disbursed to women in Self Help Groups (SHGs) per year through the nationalized banks in the district. The district administration is taking efforts to open bank accounts for all the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) beneficiaries for disbursing wages directly into their bank accounts. As many as 2.36 lakh people are being benefited through the MGNREGS scheme in the district”, Mr. Rajesh added.

Presiding over the inaugural function, S. Selvaraj, zonal manager, Dharmapuri Zone said that, being the lead bank in both the districts, it caters to the majority of banking needs of the people.

Out of the 180 banking branches in Krishangiri district, 33 are from Indian Bank. The bank is leading in SHG lending and educational loans. Indian Bank’s share in SHG lending is 45 per cent and that of educational loan is 38 per cent. The new branches are being opened as part of the financial inclusion policy of the Reserve Bank of India.

Over 100 persons obtained application forms for opening accounts in the new branches.

The bank targets to open over one thousand accounts before the end of this month, Mr. Selvaraj said.

T. Rudrappa, lead district manager, Krishnagiri among others participated.Andrew Ayyasamy, lead district manager, Dharmapuri welcomed the gathering. G.T. Gopala Krishna Pillai, branch manager proposed vote of thanks.