Click to play videoSivagangai District (Tamil Nadu): Finance Minister P Chidambaram is inaugurating Indian Bank's thousandth core banking solutions-enabled branch, which has been set up in the FM's own constituency, Sivagangai.
While the FM's farmer focussed budget is not exactly music to the industry's ears, the FM continues with his chorus, urging his rural audience to use banking facilities extensively.
"We want all Indians To have bank accounts just like people do in foreign countries. In the old days you needed Rs 1 lakh to start a bank account. All that's changed. Nowadays, one can open an account even with as less as Rs five," says he.
The FM has been one of Indian Bank's staunchest supporters over the years, even when it was in the red. He was one of several finance ministers who pumped in almost Rs 4,000 crore of the exchequer's money into the bank.
This year the bank celebrated its centenary and turnaround by going public. It says technology is what will help it shed its legacy systems.
Says CMD, Indian Bank, K V Chakraborty, "By next year, we want to network the entire bank, because CBS is not CBS until all branches are covered."
Now the bank says that over the next few years, its top and bottom-line will increase by at least 20 per cent every year.
(For updates you can share with your friends, follow IBNLive on Facebook, Twitter and Google+)
displayed with permission. Use of the CNN name and/or logo on or as part of CNN-IBN does not derogate from the intellectual property rights of Cable News Network in respect of them.