Public sector lender, Indian Overseas Bank recently organized a 'Walk in Campaign' on December 5. The main aim of the campaign was to pump up its low cost deposits.
The drive was meant as a step to expand the customer base of the bank. The campaign was a 'door to door' one named 'Walk in Bank'.
Current and savings account (CASA) deposits of the bank amounted to 33% of the total deposits of the bank as on end of September 2010. CASA ratio is important for banks as higher CASA implies better interest margins.
The current customer base of the lender figures to more than 1 crore. It had workforce of 26000 as on December 5.
The campaign aimed to promote the products and services of the bank to customers along with putting up its customer friendly image to them.