BOI launches 'Shatabdi' scheme
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BOI launches 'Shatabdi' scheme

The scheme would offer nine per cent interest to senior citizens upto ten years.

india Updated: Jun 16, 2006 15:01 IST

Bank of India has launched a new Long Term Deposit Scheme "Shatabdi scheme," as part of its centenary year celebrations, offering an interest of eight per cent per year.

The scheme would offer nine per cent interest to senior citizens upto ten years, Bank CMD M Balachandran told reporters at a press conference in Thiruvananthapuram.

Balachandran said as part of the Centenary Year, the bank would launch for customers many more deposit schemes such as flexi recurring deposit, flexi annuity pension deposit scheme and salary saving scheme during this month.

The bank also plans to adopt and overall develop 101 villages in the country. In Kerala, Marottichal village in Thrissur and Mannur in Ernakulam would be adopted.

ATM kisan card and mobile ATM for villages would also be launched soon.

The bank would open a branch in Qatar soon and also has plans to upgrade the business in China, Vietnam and Indonesia, he said.

The Bank's Kerala zone registered a net profit of Rs 701.44 crore upto March 2006 compared to Rs 340.05 crore for the corresponding period of the previous year.

First Published: Jun 16, 2006 15:01 IST