1 week ago
New IOB branch inaugurated in Gorantla to expand rural banking
A new Indian Overseas Bank branch opened in Gorantla village.
Joint Collector Noorul Qamar officially opened it on Friday.
The branch was created because the village has more than 5,000 people.
It will make banking easier for local residents.
Farmers can apply for crop loans and other agricultural credit.
People can also seek gold loans and loans for small businesses.
Officials encouraged villagers to use the new services.
The branch brings the bank’s total in Kurnool to six.
Joint Collector Noorul Qamar inaugurated an Indian Overseas Bank branch in Gorantla village on Friday.
The branch was established under Department of Financial Services guidelines for gram panchayats with over 5,000 people.
The new branch brings banking services closer to residents of Gorantla and nearby rural areas.
It will provide crop loans, gold loans and credit for agricultural allied activities.
The branch increases Indian Overseas Bank’s total number of branches in Kurnool to six.
- Who
- Joint Collector Noorul Qamar inaugurated the branch, with bank officials, public representatives and others attending.
- What
- A new Indian Overseas Bank branch was inaugurated.
- Where
- Gorantla village in Kodumur mandal, Kurnool.
- When
- The inauguration took place on Friday.
- Why
- The branch was established under Department of Financial Services guidelines for gram panchayats with populations above 5,000 and to improve rural access to banking.
Key facts
- Bank
- Indian Overseas Bank (IOB)
- Location
- Gorantla village, Kodumur mandal, Kurnool
- Inaugurated by
- Joint Collector Noorul Qamar
- Branch network
- IOB’s Kurnool tally rises to six branches
- Loan services
- Crop loans, gold loans and credit for agricultural allied activities
- Beneficiaries
- Farmers, small traders and self-employed persons
- Eligibility basis
- Gram panchayats with more than 5,000 population
Sources
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