Indian Bank Conducted Exclusive Campaign for Digital Mobilization

Kolkata, 12th November, 2024- Indian Bank recently organized a successful campaign to promote digital mobilization and the significance of deposit collection in modern banking. This event emphasized the importance of deposit mobilization—the process where financial institutions gather public funds through various channels, including savings, fixed deposit accounts, current accounts, and specialized financial schemes. As a key function of banks, deposit mobilization plays a vital role as a primary source of funds for lending operations.

The campaign was inaugurated by Shri Mahesh Kumar Bajaj, Executive Director of Indian Bank , who highlighted the transformative role of digital innovation in enhancing banking efficiency and customer experience. The event served to underline Indian Bank’s dedication to advancing digital solutions that simplify financial transactions and increase public participation in banking.

Mr. Bajaj Said, “Indian Bank, India’s 7th largest public sector bank, is advancing digital services and customer outreach. We’re running two campaigns to boost CASA deposits and reconnect with lost customers, aptly named “Run to Reach” and “Connect and Conquer.” These initiatives are designed to engage customers more actively, aiming to drive significant growth by March.
In recent efforts, we opened 5,661 savings accounts, totaling ₹150 crores, and recorded a high volume of new current and monthly savings accounts. On the lending side, we issued loans totaling over ₹171 crores.
Our digital journey continues with the INDSMART Mobile Banking app, an omnichannel platform offering internet and mobile banking services with over 220 features. Additionally, we’re introducing a corporate mobile banking app and a relationship manager app by December, enabling managers to deliver services directly to customers. This approach emphasizes Indian Bank’s commitment to accessibility and enhanced service for all customers, 24/7.”

The presence of Shri Bajaj underscored the bank’s commitment to leveraging technology for robust financial practices and underscored the importance of public engagement in the bank’s initiatives.