CURRENT AFFAIRS : BANKING & FINANCE
Indian Bank Launches ‘IB SAATHI’ to Offer Basic Banking Services
- Indian Bank has launched a financial inclusion solution called “IB SAATHI” (Sustainable Access and Aligning Technology for Holistic Inclusion).
- The initiative focuses on providing basic banking services to stakeholders through the business correspondent (BC) channel.
- IB SAATHI aims to simplify the delivery of services and offers both basic and value-added services to customers
- The bank plans to offer basic banking services at all its branches for a minimum of 4 hours per day.
- Banking Correspondents (BCs) will also provide services directly to customers at their doorstep.
- Indian Bank has set a target to deploy around 5,000 banking correspondents by March 2024 to expand its reach and accessibility to customers.
- The initiative is part of the bank’s efforts to promote financial inclusion and enhance banking services for underserved areas and populations.
