Indian Bank to open branch in Jaffna
Public sector lender, Indian Bank wishes
to expand its overseas reach. The Chennai based bank is all set to open a full
fledged branch in Jaffna ,
which is the capital of the northern province
of Sri Lanka
This would be the second branch of the bank in the country.
It already has a branch in Colombo
After SriLanka,
the bank is targeting Jakarta in Indonesia Jakarta
“We have got all necessary clearances from different departments
of the Indian government including the finance ministry’s go-ahead to RBI. We
are expecting to get the licence within a fortnight’s time. In such an
eventuality, we are hopeful of
setting up a branch there by November, ”
TM Bhasin, chairman & managing
director of Indian Bank, said.
While talking about the idea behind opening a branch in Jaffna , Bhasin
said, “There are a lot of
opportunities coming in Jaffna , 000 crore has been
earmarked for housing development in Jaffna ,
there are a lot of opportunities for entrepreneurship development”.
