The Hindu : Bank to popularise home loan concept in small towns

Online edition of India's National Newspaper
Monday, Nov 03, 2003

Southern States

Southern States - Pondicherry

Bank to popularise home loan concept in small towns

By Our Staff Reporter

PONDICHERRY NOV. 2. The Indian Bank is taking the home loan concept to small towns, district headquarters and villages rather than just concentrating on customers in metropolitan cities, according to its executive director, M.B.N. Rao.

Addressing a gathering of customers at the inauguration of a week-long `Home loan festival' in all the 44 branches in Pondicherry and Cuddalore circles, Mr. Rao said while other banks were concentrating on metro cities, "we are taking the home loan concept to other places too since we believe most of India lives in these smaller places".

For the past three years, the bank had been concentrating on financing home loans very aggressively. This was because the bank believed that when they financed the construction of a home, they in turn finance various industries like steel, cement, electric and electronics, he said.

Selvam Veeraraghavan, Additional General Manager, Pondicherry, said the home loan festival would be on till November 8 in all the 44 branches.

Customers from Villupuram, Dindivanam, Cuddalore, Pondicherry and Karaikal would benefit from this festival. In an effort at making the procedure customer-friendly and simple, he said applications would be scrutinised on the spot and care would be taken to make things easier for the customers.

Kadiresan, Circle Head, Indian Bank, Cuddalore, was also present. Later,

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