Public sector Indian Bank on Saturday announced the launch of ‘IB SAATHI’ initiative aimed at providing a comprehensive ecosystem to all stakeholders in the financial sector through the commercial agency route.
IB Holistic Inclusive Sustainable Access and Adaptation Technology (SAATHI) provides an enhanced user experience by streamlining service delivery, covering both basic and value-added services to customers.
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The bank’s Managing Director and CEO SL Jain launched the initiative at its corporate office, a release said.
With the launch of the scheme, Indian banks aim to provide basic banking services for at least four hours a day at fixed branches across all centres, while banking agents will extend services directly to the doorsteps of customers.
Indian Bank plans to deploy around 5,000 banking correspondents by March 2024, which is expected to enhance the bank’s reach and accessibility.
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The city-based lender currently has 10,750 bank correspondents and 10 corporate agents, a number that will rise to more than 15,000 bank correspondents and 15 corporate agents.
Currently, the bank offers 36 different services to customers through the banking agent channel and will add more than 60 services during the financial year 2024-25, the release added.
