State Bank of Patiala has opened another 7 new branches in the Bathinda and Jalandhar districts of the bank. The bank, a subsidiary bank of State Bank of India has taken this measure to boost its access in rural Punjab.
The new branches are situated in the districts of Ludhiana, Jalandhar, Hoshiarpur and Amritsar.
Mr Ashok Nayar, bank’s MD said that the bank intends to start 20 branches in the chosen villages as part of its financial inclusion plan. In this drive, 11 branches would be opened in Punjab and 9 in other parts of the country.
These branches would offer all types of banking services. State Bank of Patiala plans to access around 500 villages in this fiscal in its move towards financial inclusion. Of these 263 villages lie in Punjab. More than 150 villages will be targeted by the bank on 30th September 2010.
Nayar said that the bank would concentrate on the fruitful deployment of loan facilities besides timely repayment alternatives so that the money circulation remains steady.
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