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IDFC Bank Opens Branches in Vijaywada and Guntur Enhances Financial Access, 250 Micro Atms Go Live in 45 Days in Krishna District Alone

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IDFC Bank Opens Branches in Vijaywada and Guntur Enhances Financial Access, 250 Micro Atms Go Live in 45 Days in Krishna District Alone IDFC Bank opens branches in Vijaywada and Guntur Enhances financial access, 250 Micro ATMs go live in 45 days in Krishna district alone Vijayawada/Guntur, June 22, 2016: IDFC Bank today opened branches in Vijaywada and Guntur in Andhra Pradesh and completed the installation of 250 micro ATMs in Krishna district. This is part of an endeavour to enhance easy access to banking services across rural Andhra Pradesh. The move aligns with recent initiatives undertaken by IDFC Bank in partnership with the Andhra Pradesh government to enable Direct Benefit Transfer through its interoperable AEPS (Aadhaar Enabled Payment System) Micro ATMs. The branches in Vijaywada and Guntur will serve as a nodal centre for customers as well as Banking Correspondents. The Vijaywada branch was inaugurated by Shri Babu. A, District Collector of Krishna in the presence of Dr. Rajiv Lall, Founder MD & CEO, IDFC Bank and Ravi Shankar, Head – Bharat Banking, IDFC Bank. IDFC Bank initiated Direct Benefit Transfers to beneficiaries in Krishna last month, starting with social security pensions. It proposes to extend the facility to other government entitlements as well. As part of the tie-up with the state, the bank recently piloted Aadhaar enabled cashless payments for PDS outlets in Krishna. The initiative is also expected to provide a fillip to entrepreneurship in Krishna district with SHG groups adopting the bank’s Micro ATM mode. IDFC Bank’s micro ATM network is set to touch the lives of 46 lakh citizens in Krishna district alone. The establishment of high density interoperable micro network in Krishna is testimony to use of technology for inclusive banking. It underlines IDFC Bank’s objective of being a private bank with a public purpose. IDFC Bank’s interoperable Micro ATM functions like a ‘Bank-in-a-Box’, enabling digital transactions, withdrawals and DBT for customers of close to 3000 banks. It also provides instant account opening and activation, working on multiple identifiers including Aadhaar-based authentication, mobile numbers, debit cards and bank account numbers. Guntur branch BG Arcade, Nagaram Palem Main Road, Next to Alankar, Guntur Vijaywada branch Madhu Sree, 61-3/1-12, Service Road, NH-5, Balaji Nagar, Vijaywada About IDFC Bank: IDFC Bank (BSE: 539437, NSE: IDFCBANK) is a subsidiary of India’s leading integrated infrastructure finance company, IDFC Ltd (BSE: 532659, NSE: IDFC). Headquartered in Mumbai, IDFC Bank is a universal bank, offering financial solutions through its nationwide branches, internet and mobile. Envisioned as a new age bank, IDFC Bank seeks to set a new standard in customer experience, using technology and a service-oriented approach, to make banking simple and accessible, anytime and from anywhere. In keeping with IDFC’s legacy of building the nation, IDFC Bank will focus on serving the rural underserved communities and the self-employed, while continuing to support the country’s infrastructure sector. IDFC Bank provides customized financial solutions to corporates, individuals, small and micro-enterprises, entrepreneurs, financial institutions and the government. With best-in-class corporate governance, rigorous risk management, experienced management and a diversified team, IDFC Bank is uniquely positioned to meet the aspirations of its customers and stakeholders. www.idfcbank.com or Twitter, Facebook and LinkedIn For media queries, contact: Freeda D’souza +91 9892962607 [email protected] .
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