The Mumbai headquartered IDBI Bank reached a new milestone by opening its 1000th branch in Kannangudi, in Sivaganga district of Tamil Nadu . To mark the occasion, the bank declared the launch of a new, education loan scheme. The scheme is low priced and caters to students seeking education loans for both vocational courses and non-vocational courses. It has been designed on the lines of the model education loans scheme, which was developed by Indian Banks' Association.
The inauguration ceremony of the new IDBI Bank branch was attended by the Finance Minister P. Chidmbaram, who said that he was happy to see the development of the bank into a full-fledged commercial bank, which was taking keen interest in developing customized solutions to customer's financial problems. On the occasion, the Chairman and Managing Director of the public sector bank said that the opening of the new branch in Kannangudi was testimony to the bank's efforts to develop the socio economic scenario of the region.
Presently, the bank has a network of 1000 branches and 1592 ATMs across the country.