State run, Indian Bank has decided to open 1,525 ultra small branches in rural areas across the country, in order to increase its presence in rural areas. It plans to have one clerk at the branch, representing the bank, with a laptop and one rural development officer with necessary infrastructure like computer, printers, cash chest. The bank will be recruiting 1,200 bank clerks, 500 probationary officers and 300 rural development officers for these ultra-small branches.
On the standalone basis, the bank has posted a rise of 13.47% in its net profit at Rs 461.74 crore for the quarter ended June 30, 2012 as compared to Rs 406.93 crore for the same quarter in the previous year. Total income has increased by 18.67% at Rs 3596.50 crore for quarter under review as compared to Rs 3030.74 crore for the quarter ended June 30, 2011.
Indian Bank is a mid-sized government bank with over 1,860 branches across India, one branch in Singapore and two in Sri Lanka. It has a particularly strong presence in Tamil Nadu.
Company Name | CMP |
---|---|
SBI | 812.50 |
Bank Of Baroda | 240.30 |
Canara Bank | 99.65 |
PNB | 100.70 |
Union Bank Of India | 116.60 |
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