IDBI set to woo non-resident Keralites

>From Indo-Asian News Service

Thiruvananthapuram, July 2 (IANS) After setting shop in Kerala almost two
years ago, the Industrial Development Bank of India (IDBI) is bracing itself
to tap the large number of non-resident Keralites in the Middle East.

"Today 20 percent of deposits in Kerala are from non-resident Keralites,"
said A.S. Varughese, branch manager of the IDBI here.

"In the current year we are aiming to substantially increase (such
deposits). To attract more non-residents, those having credit or debit cards
of American Express, Visa and Master Card can withdraw money from any of our
ATMs."

Today IDBI has three branches and seven ATMs in Kerala. Another branch is
set to open at Kochi on July 15. Another one will open at Kozhikode.

The bank may enter into tie-ups with leading financial money exchange houses
in the Middle East for the benefit of the large number of people from Kerala
in the region. Once this is done, money credited into accounts in the Middle
East can be withdrawn by anyone having an account with the bank here.

--Indo-Asian News Service

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