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Indian Bank to sell pure gold coins

Indian Bank to sell pure gold coins
Published: Saturday, February 25, 2006

Udhagamandalam, Feb 25: Indian Bank would soon initiate sale of "pure gold coins" through their select branches, Chairman and Managing Director M K C Chakrabarty said.

Addressing a press conference here today he said the scheme would be launched before the end of this fiscal or by the beginning of next fiscal.

The bank's proposed strategic alliance with PNB Principal in insurance sector also would be launched at the earliest, once it got nod from the Insurance Regulatory Authority.

As the huge equity base of Rs.4500 crore gets sorted out, the bank would go for IPO, he said.

As far as core banking solutions were concerned, Chakrabarty said that once the facility of broad band was available to them, their entire branch of 1400 would be inter connected. Their "Bharath Card", first of its kind in the banking sector, too would come out soon.

"The bank has been moving towards the profitable priority sector in a considerable volume", Chakrabarthy said adding it has been taking this right step since their previous experience of lending in thrust areas such as education and agriculture and the sectors have borne enough fruit.

He expressed his happiness over the recovery from the customers, particularly from the members of Self Help Groups.

In floriculture sector, the bank would provide help to farmers, he said. (Agencies)


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