India’s IDBI Bank to Enter Insurance Business
IDBI Bank, one of the leading private sector banks in India having connectivity facility in 65 cities, announced it would soon enter the insurance business.
The bank would be introducing various new products in the market and insurance would be one of them, bank’s human resource department head Ulhas Deshpande said. Desphande said the bank had mobilized deposits to the tune of Rs 4,000 crore last year and it would touch 35 percent more than last year in the current financial year.
As part of its expansion program, the bank was contemplating to open more branches in the state to cater to the needs of the customers. Desphande said the bank had also introduced mobile phone banking in most of its branches. - (EMEconomy.com)
March 10, 2008 | Filed Under Catering Insurance