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Business EconomyPosted at: Aug 5 2020 6:32PM


IDBI Bank Launches “IDBI Swarna Kalash” - Specialized Gold Loan Branches

Kolkata, Aug 5 (UNI) IDBI Bank announced the launch of four specialized gold loan
branches branded as “IDBI Swarna Kalash”, by remodeling its existing branches.
These branches are located at Neelamangalam, Sivaganga, Vijaya Nagar,
Bengaluru and L .B. Nagar, Hyderabad.
IDBI Bank in their Q1 FY21 Financial Results reported an increase in the growth
trajectory with Gold Loans as one of the premium product with minimum
delinquencies.
These specialized Gold Loan Branches will facilitate quick, transparent and hassle
free Gold Loan financing.
The Gold Loans are offered at a competitive interest rate, starting from 8% p.a.,
to cater to the increasing credit demand in the Agri, PSL, and rural markets.
Overdraft facility is also available under these loans and can be applied via a
digital platform.
Rakesh Sharma, MD & CEO, through a virtual mode, inaugurated these four
branches in the presence of Deputy Managing Directors Samuel Joseph and
Suresh Khatanhar, and Executive Director Rajeev Kumar.
Speaking at the launch program, Rakesh Sharma MD & CEO said, “We have
witnessed a surge in the demand gold loan and have conceptualized “Swarna
Kalash” as a premium offering of IDBI Bank. Our focus is on creation of such
specialized branches to cater to the demand in the market and facilitate an
easy access to our gold loan customers.”
UNI SJC BM
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Tags: #IDBI Bank Launches “IDBI Swarna Kalash” - Specialized Gold Loan Branches
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