Date:21/02/2007 URL: http://www.thehindubusinessline.com/2007/02/21/stories/2007022101672100.htm

Back Indian Bank opens branch at Dharavi

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Mumbai Feb. 20 Indian Bank has opened a branch at Dharavi, Asia's largest slum in Mumbai, with core banking facilities and online ATM. The branch was inaugurated by Ms Usha Thorat, RBI's Deputy Governor.

"The basic objectives are to bring people into the institutional framework and provide all banking products such as "no-frills" savings bank account, small overdrafts, general credit cards and life and medical insurance for promoting viable economic activity," said a statement from Indian Bank The branch has 6417 no-frills account and has mobilized Rs 51.60 lakh.

Apart from traditional banking products, the bank also plans to offer pension and mutual fund products.