IDBI Bank opens second Jaipur branch

IDBI Bank has opened its second branch in Jaipur at the gem and jewellery hub""Johari Bazar. Johari Bazar is synonymous with gems and jewellery trade and exports worldwide for semi-precious stones, especially emeralds and tanzanite. The area is also known for the wholesale trade of textiles, oil, grains and handicrafts.

IDBI Bank has embarked an ambitious growth plan to expand its branch network in Rajasthan. The expansion drive will see the Bank significantly expanding its network by 30 per cent.

Announcing the plans, the IDBI Bank country head (Retail Banking), Rajan Ghotgalkar, said: "As one of the fastest growing banks in India, we are looking at all-round expansion in terms of products and services as well as branches."

On the spread of the new branches, Ghotgalkar said: "We are adopting a mixed strategy, wherein we will increase our density in metros as well as other markets where we see business potential."

Ragini Atal, Regional Head (North), said, "The area offers excellent business and service opportunities, including foreign exchange potential. The upcoming branch would offer better banking services to the expanding gems and jewellery trade and exports, the textiles market, and other wholesale trades.

The IDBI Bank's branch head, Jaideep Jacob, said the branch would offer a host of innovative services like retail products, investment advisory services, online demat transactions, and trade finance services. The latest bouquet of services like direct tax payment by the Bank will also be available at the branch, he said.

IDBI Bank, which had 92 branches and seven extension counters, has planned its new branch network in urban as well as semi-urban areas with 10 in the west zone, nine in the north, seven in the south, and two in the east. The Bank, which covers 73 cities now, will increase the figure to 87 once the current expansion plan is completed in the next three months.