2nd lead

Indian Bank to open branch in Jaffna to channel Delhi’s rehabilitation aid

[TamilNet, Thursday, 29 July 2010, 01:14 GMT]
The Chennai-based, state-run Indian Bank is planning to open a branch in Jaffna, and to facilitate an Indian government loan to Sri Lanka of US$ 200 million for the rehabilitation of internally displaced Tamils, media reports said. "Talks [with Sri Lanka] are in an advanced stage at the moment," chairman and managing director Mr. TM Bhasin told The Times of India earlier this week. Indian Bank has at present over 1,700 branches, the majority in Tamil Nadu (757) and Andhra Pradesh (230).

Mr.T.M. Bhasin, Chairman of Indian Bank
r.T.M. Bhasin, Chairman of Indian Bank
Asked about Indian Bank's plans in Sri Lanka, Mr. Bhasin told the Economic Times the Indian government has decided to lend Sri Lanka Rs.1,000 crore (USD 200m) as assistance towards rehabilitation of internally displaced Tamils there and "in order to channel the assistance through our bank we are opening a branch in Jaffna".

“There is also good business potential in Kandy," he added.

A couple of months ago , the bank had sent representatives to Jaffna to evaluate the possibility of setting up a branch, the Times of India said meanwhile.

Indian Bank already has a branch in Colombo and is also looking at the possibility of opening a branch in Kandy, as well as a representative office in Jakarta in Indonesia, the Times of India said.

Indian Bank had once had a branch in Jaffna, but it was closed some 14-15 years ago due to a resumption of Sri Lanka’s armed conflict, Mr. Bhasin told The Economic Times in April.

 

Latest 15 Reports
23.07.16 23:09  
Ethnic discrimination in student enrollment exposes reconciliation farce: Tamil academic
22.07.16 19:47   Photo
Tamil student leaders in Jaffna condemn SL Governor Cooray’s remarks in Colombo
21.07.16 01:26  
University engineers not learning lessons
21.07.16 00:21   Photo
Tamil politicians blame SL Military for enticing Sinhala students with triumphalist chauvinism
20.07.16 16:39   Photo
Tamil fishermen rise up against Colombo's move to permanently militarise Pa'l'li-munai in Mannaar
20.07.16 15:21   Photo
NPC demands CoI to go beyond criminal investigations on Jaffna University clash
19.07.16 23:15  
Sinhala-Tamil student clash in Jaffna exposes dangerous proportions of military occupation
18.07.16 18:01   Photo
‘SL President sanctioning 67-feet Buddha statue off Jaffna is act of aggression’
17.07.16 23:46  
Eastern University instructs assaulted Tamil student to attend investigations in Colombo
16.07.16 13:37   Photo
SL military-backed Sinhala students clash with Tamil students in Jaffna University
15.07.16 23:51   Photo
Encouraged by US appeasement, SL military strengthens genocidal grip on North
14.07.16 23:52  
SL Commander of 58 Division twists lists at Mullaiththeevu Magistrates’ Court
13.07.16 23:31   Photo
SL military deployed to rob material remains of houses in Valikaamam North ‘HSZ’ 
12.07.16 13:10   Photo
Colombo demonstrates military diktats over resettlement in Jaffna after Geneva ‘update’
11.07.16 23:03   Photo
Sinhala goons, monk erect Buddha statue by force at coastal Tamil village in East
 
Find this article at:
http://www.tamilnet.com/art.html?catid=13&artid=32308