Banking News INDIA: 16 September 2023

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Indian Bank launches ‘IB SAATHI’

Indian Bank launches ‘IB SAATHI’ initiative for the public sector

  • Indian Bank launches ‘IB SAATHI’ initiative for the public sector.
  • The initiative aims to create an integrated financial ecosystem through business correspondents.
  • ‘IB SAATHI’ stands for “IB Sustainable Access and Aligning Technology for Holistic Inclusion.”
  • The initiative simplifies service delivery for all financial sector stakeholders, offering basic and value-added services.
  • Indian Bank’s Managing Director and CEO, S L Jain, launched the initiative.
  • Basic banking services will be provided for at least four hours per day at fixed branches.
  • Banking Correspondents will extend services directly to customers’ doorsteps.
  • By March 2024, Indian Bank plans to deploy approximately 5,000 banking correspondents to enhance reach and accessibility






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