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IDBI Bank launches UFIP in Mumbai

Posted on Dec 22, 10:29AM | UNI

Public sector lender, IDBI Bank has launched 'Urban Financial Inclusion Programme' (UFIP) at Dhobi Ghat near Mahalaxmi area in the city for expansion of banking facilities to the financially excluded people in urban areas.

The initiative is in line with the directives of Ministry of Finance, requesting banks to cover urban poor, slum dwellers and inhabitants of urban/metro villages under Urban Financial Inclusion Programme.

Speaking on the occasion, R. M. Malla, chairman and managing director, IDBI Bank said, "We have taken a step towards a sustainable and inclusive growth, which is essential for building an equitable society.

The facility was inaugurated yesterday by Dr K C Chakrabarty, Deputy Governor, Reserve Bank of India.

Dr Chakrabarty commended the initiative and appreciated IDBI Bank's efforts in reaching out to the urban underbanked populace.