Chennai, Sep 16: In order to provide stakeholders with essential banking services through the business correspondent (BC) channel, Indian Bank has unveiled IB SAATHI (Sustainable Access and Aligning Technology for Holistic Inclusion), a financial inclusion solution.
The public sector lender stated in a statement that with this updated model, it aspires to offer fundamental banking services at all centres for a least of four hours each day in fixed outlets.
The initiative was introduced at the bank’s corporate office here by Managing Director and CEO S L Jain, according to a news release.
Additionally, BC agents will offer their services to clients right at their doorstep, thereby enhancing the ease and accessibility of financial services.
Indian Bank plans to have deployed more than 5,000 additional BCs by March 2024. It currently has 10,750 Business Correspondents (BC) and 10 Corporate Business Correspondents (CBC), but that number will increase to 15,000 BCs and 15 CBCs.]
Through its BC channel, Indian Bank currently provides 36 distinct services to customers. The bank plans to roll out an additional 60 services in FY25.