Federal Bank has announced the inauguration of its first digital branch titled ‘Fed-e-Studio ‘at Rajarhat Bhatenda in West Bengal. Dr Mahesh K Goenka, Director, Apollo Gleneagles Hospitals Kolkata inaugurated this new facility. Fed-e-Studio will offer a series of banking services for 24/7.
With the help of this new facility, users will be able to perform fund transfers, CTS clearing transactions, cash deposit and withdrawal etc. in this digital branch.
The lender is now planning to connect several other services like account opening, profile updation etc. available via this kiosk in the next phase.
The lender has plans to unveil 25 more such digital branches in various parts of the country.
Anuradha Mondal (ADCP), Nandakumar V (Senior Vice President & Business Head (Network II) of Federal Bank), Dileep B (Vice President and Kolkata Zonal Head, Federal Bank), Sajan K P (Deputy Vice President and Kolkata Regional Head, Federal Bank), other employees of Federal Bank and guests of the bank attended the launch.
About Federal Bank:
Federal Bank is a leading private sector bank with a branch network of 1,251 branches and 1,934 ATMs/Recyclers spread across the country. The bank’s total business mix (deposits + advances) stood at Rs 2.46 Lakh Crore as on March 31, 2019, and it has earned a net profit of Rs. 1,244 Crore for FY19. The Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines, stood at 14.14%. Federal Bank has its Representative Offices at Dubai and Abu Dhabi that serve as a nerve centre for NRI customers in the UAE.