Ujji­van col­lects `1000 cr in de­posits

Banking Frontiers - - Pb-sfb -

Ujji­van Small Fi­nance Bank has been able to col­lect `1000 crore in 7 months of its op­er­a­tions and what has con­trib­uted to this per­for­mance was the 8% in­ter­est if of­fers on de­posits. Ac­cord­ing to It­tira Davis, COO, there has been an en­cour­ag­ing re­sponse for the in­ter­est rate of­fered on sav­ings with a half per cent higher rates for se­nior cit­i­zens vis-a-vis 6.5%-7% in other banks. He added that the bank hopes to garner `1500-`2000 crore in the first year of op­er­a­tions. The bank is of­fer­ing SB ac­count with no charges for min­i­mum bal­ance and pro­vid­ing host of other ben­e­fits such as doorstep bank­ing, mo­bile in­ter­net, phone bank­ing etc. The hand-held de­vice for bio­met­ric au­then­ti­ca­tion for in­stant ac­count open­ing can also be used for cash de­posits, with­drawals and fund trans­fers at the cus­tomers doorstep.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.