Lakshmi Vilas Bank gets RBI nod for 71 new branches

Hyderabad, Jan 23 : Lakshmi Vilas bank has obtained permission from the Reserve Bank of India to open 71 more branches.

The bank can now open branches in Metro, urban, semi-urban and rural centres, a bank release said here today. Lakshmi Vilas bank is presently serving a customer base of over 2 million through a network of 291 branches as on December 31, 2012.

The bank also has 627 ATMs of its own. Welcoming the RBI approval, MD & CEO (interim), Lakshmi Vilas Bank K S R Anjaneyulu said 'This new set of licenses to open 71 new branches will help the bank to expand its reach substantially. The expanded network of branches will help the bank to reach out to newer demographics. Lakshmi Vilas bank has its presence in over 15 States and one Union Territory, and plans to extend its reach to hitherto unrepresented states and UTs, Pan India, the release added.

- Agencies

Published On : Jan 23, 2013