Indian Bank unveils 'IB SAATHI' to enhance banking services

Chennai: Public sector Indian Bank on Saturday announced roll out of 'IB SAATHI' initiative aimed at providing an integrated ecosystem for all stakeholders in the financial sector through the business correspondent route.

The IB Sustainable Access and Aligning Technology for Holistic Inclusion (SAATHI) offers an enhanced user experience through the simplified delivery of services, encompassing both basic and value-added offerings to customers.

The bank's Managing Director and CEO S L Jain launched the initiative at their corporate office here, a press release said.

Indian Bank, with the launch of the scheme, seeks to provide basic banking services at all centres for a minimum of four hours per day at fixed branches while the Banking Correspondents would extend their services directly at the doorsteps of the customers.

By March 2024, Indian Bank has planned to deploy about 5,000 banking correspondents and this is expected to bolster the bank's reach and accessibility.

The city-based lender currently has 10,750 banking correspondents and 10 Corporate Business Correspondents which would grow to over 15,000 banking correspondents and 15 Corporate Business Correspondents.

Currently, the bank offers 36 different services to customers through the Banking Correspondent channel and over 60 services would be added during the financial year 2024-25, the release added.