IDBI Bank to woo clients in local networks

Mangalore: IDBI Bank plans to extend its "customer-centric philosophy" to all customers in its local networks. IDBI Bank representatives, who addressed a press conference here on 1 July 2002, primarily to attract businessmen to their new schemes, said the bank now covers 61 cities across India, operating 82 branches with a network of 244 ATMs.

The number of customers holding retail accounts in the bank are said to have risen to over 6 lakh with more than 30,000 accounts being added every month, according to the representatives. As for Karnataka, the bank has four branches at different locations in Mangalore, Hubli and Bangalore.

Revealing details regarding the banks new "current account products" that are expected to "help businesses save," the representatives said Business Premium Current Account and Business Special Current Account schemes offer free fund transfers, free cheque collections and free inter-branch banking, which results in businesses saving substantially on transaction fees.

Businesses can now save more than Rs 12 lakh per year with the Business Premium Current Account and over Rs 6 lakh per year with the Business Special Current Account by knocking off transaction costs from their expenses.