Manipal Technologies Limited (MTL), a relentless innovator for the last eighty-two years and leading multi-business enterprise has recently partnered with Indian Bank, one of India’s premier public sector banks, to empower millions of underserved individuals across India, providing them with access to a range of financial services, and fostering financial inclusion. The partnership aims to build a sustainable network of Corporate Business Correspondents (CBCs) that will enhance the availability, affordability, and accessibility of financial services, particularly in underserved markets and rural areas.
As part of this association, MTL will work closely with the Indian Bank to offer tailor-made banking products in rural locations spread across Bharat. The initial focus will be serving more than 600+ locations and gradually expanding the presence in newer regions in states such as Tamil Nadu, Chhattisgarh, Uttar Pradesh, Kerala, Maharashtra, Haryana, and Punjab. Through this partnership, MTL will enable the bank to extend its reach beyond existing branches and make its range of banking products easily accessible to customers at their doorstep.
Abhay Gupte, MD and CEO, Manipal Technologies Limited said, “We are extremely honored to be a facilitator of this program and transform the financial landscape in Bharat. By offering tailor-made financial products in association with Indian Bank, we aim to empower rural communities and unlock their economic growth potential. Our extensive network of trained Field Business Correspondents (FBCs) will enable Indian Bank in reaching out to individuals in remote areas and ensuring they have convenient access to financial services. Our goal is to empower the underbanked communities, include them in the financial ecosystem, and contribute to the overall development of rural India.”
Shri Sujay Kumar, Project Leader for selection of Corporate Business Correspondent, Indian Bank said, “Through our strategic partnership with Manipal Technologies Limited, we are expanding our services to bridge the gap between underserved communities and their banking needs. We aim to empower individuals with seamless access to financial services, ranging from account opening, withdrawals, deposits, lead generation, opening FDs, and applying for loans. Our alliance with MTL will further enable us to reach the last mile and serve the unbanked and underbanked customers of Bharat. We look forward to working with them and onboarding more people and customers in the times ahead.”