Deposit mobilisation, rate cut key challenges: Indian Bank MD

THE BANKING INDUSTRY will continue to struggle with deposit mobilisation, maintaining a healthy current account savings account (CASA) ratio and a possible fall in net interest income after reduction in policy rates, said Shanti Lal Jain, MD and CEO of Indian Bank.

- ANUPREKSHA JAIN

Indian Bank will focus more on high net worth individuals and non-resident Indians, Jain said. He believes these two segments have bigger chances to expand the money base for the bank. It has also been expanding the network of banking correspondents, who look after providing digital services to customers. Currently, the network of banking correspondents stands at 13,000 and the target is to grow the number to 15,000 by the next fiscal. "This is a cost-effective way where we are serving the customer through technology and also with the human touch," Jain said.