Indian Overseas Bank to Open 88 New Branches in FY24-25
By Rediff Money Desk, Chennai May 24, 2024 09:49
Indian Overseas Bank plans to open 88 new branches across India in FY2024-25, including 8 in Puducherry, Cuddalore, Nagapattinam and Mayiladuthurai districts to reach unbanked rural areas.
![Indian Overseas Bank to Open 88 New Branches in FY24-25](https://im.rediff.com/money/2016/jun/16bank2.jpg)
Chennai, May 24 (PTI) Public sector Indian Overseas Bank has drawn up plans to set up 88 new branches across India this financial year, a top official has said.
The city-headquartered bank under its expansion drive recently inaugurated a new branch in Nagapattinam and the 126th ATM in neighbouring Puducherry.
Indian Overseas Bank Managing Director and CEO Ajay Kumar Srivastava after inaugurating the 3,240th branch of the bank at the Medical College in Nagapattinam highlighted the bank's aggressive plans, a press release said here on Friday.
He stated that Indian Overseas Bank aims to open 88 new branches across India this year, with 8 branches targeted specifically in Puducherry, Cuddalore, Nagapattinam and Mayiladuthurai districts to serve the unbanked rural areas.
Indian Overseas Bank is committed to introduce innovative banking products to suit customer needs. The bank's total business crossed Rs 5 lakh crore, showcasing substantial growth, the release added.
The city-headquartered bank under its expansion drive recently inaugurated a new branch in Nagapattinam and the 126th ATM in neighbouring Puducherry.
Indian Overseas Bank Managing Director and CEO Ajay Kumar Srivastava after inaugurating the 3,240th branch of the bank at the Medical College in Nagapattinam highlighted the bank's aggressive plans, a press release said here on Friday.
He stated that Indian Overseas Bank aims to open 88 new branches across India this year, with 8 branches targeted specifically in Puducherry, Cuddalore, Nagapattinam and Mayiladuthurai districts to serve the unbanked rural areas.
Indian Overseas Bank is committed to introduce innovative banking products to suit customer needs. The bank's total business crossed Rs 5 lakh crore, showcasing substantial growth, the release added.
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.93 ( -4.87)
- 226206286
- IFL Enterprises
- 1.30 (+ 4.84)
- 81461564
- Vodafone Idea L
- 16.79 (+ 0.66)
- 67447398
- NCL Research
- 0.95 ( -4.04)
- 31996628
- Franklin Industries
- 3.73 (+ 3.32)
- 21511209
MORE NEWS
![Navi Mumbai...](https://im.rediff.com/80-80/money/2021/jun/10navi-mumbai-airport7.jpg)
Navi Mumbai Airport ILS Signal Testing Begins
The Airports Authority of India (AAI) has begun ILS signal testing at the...
![Air India VRS for...](https://im.rediff.com/80-80/money/2020/sep/09tata-vistara-3.jpg)
Air India VRS for Non-Flying Staff Ahead of...
Air India has announced a voluntary retirement scheme (VRS) and voluntary separation...
Fisher Groups Oppose WTO Fisheries Subsidy Talks
Small-scale fisher groups from India, Indonesia, and Bangladesh demand WTO keep...