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The bank, promoted by Centrum Financial Services, said its net interest margin was at 10.8%. Its operating profit soared nearly four-fold at Rs 147 crore against Rs 37 crore in the year-ago quarter.
Chief minister Naveen Patnaik launched ‘Ama Bank’ to provide banking services through customer service point (CSP) and banking outlets in all unbanked gram panchayats. The scheme will be implemented in phases to cover all 4,373 unbanked gram panchayats by this financial year. ‘Ama Bank’ is a low-cost brick and mortar micro-bank branch which sits between a business correspondent (BC) and a small bank branch and will provide all services.
(This story has not been edited by THE WEEK and is auto-generated from a PTI
Get latest articles and stories on Business at LatestLY. Mumbai (Maharashtra) [India], August 4: IndusInd Bank and Tiger Fintech - a Bajaj Capital Group company, today announced the launch of the IndusInd Bank Tiger Credit Card, a co-branded credit card powered by Visa. With this launch, customers will get access to best-in-class credit card to meet their lifestyle needs. Business News | IndusInd Bank Partners with Tiger Fintech (A Bajaj Capital Group Company) to Launch a Co-branded Credit Card.
The new branch was inaugurated by the Minister for Road Transport & Highways in the Government of India, Nitin Gadkari in the presence of senior officials of IndusInd Bank.