Regional Rural Bank sponsored by Indian Overseas Bank (IOB), Pandyan Grama Bank has laid an ambition to open 17 new branches and to introduce ATMs in Madurai before the end of the current financial year.
Pandyan Grama Bank has recently celebrated its 36th commemorative celebration at its administrative office at Virudhungar. Mr. A K Bansal, Executive Director of Indian Overseas Bank and Mr. S N Mishra, Advisor to Priority Credit Department of IOB, participated, an official release said.
The regional rural bank has a network of 218 branches across 15 districts and all the branches have been brought under the CBS since April, 2011.
The press release also mentioned that the bank had NIL-NPA and has been earning profit for the past 14 years, despite of the staff crisis. Mr. S N Mishra in his address mentioned that the Pandyan Grama Bank's participation in Financial Inclusion Programme had a far reaching impact on serving the un-banked and under banked, covering almost 219 villages, involving around one lakh accounts, the release added.
The bank has also issued 3, 86,034 Kisan credit cards involving Rs. 615.63 crore.