Federal Bank Opens First Digital Branch at Rajarhat

Ankur Bhattacharya

Kolkata, 3 February : Leading private sector bank Federal Bank with a network of 1,251 branches and 1,934 ATMs, here today inaugurated its first digital branch in the country – ‘Fed-e-Studio’ – at Rajarhat on the Eastern outskirts of the city.
The Bank whose total business mix comprising deposits and advances stood at Rs 2.46 lakh crores as on March 31, 2019 and a net profit of Rs1,244 crores for FY19, would provide a host of banking services round the clock through Fed-e-Studio. There services include fund transfers, CTS clearing transactions, cash deposit and fund withdrawal .
Speaking on the occasion Federal Bank Senior Vice President and Business Head V Nandakumar said the Bank was planning to introduce a number of other services for its customers like account opening and profile updation soon. ‘The Bank has plans to open 25 more such digital branches in various parts of the country this year, ‘ he stated further.
Noted cardiac surgeon and Director, Apollo Gleneagles Hospitals,Dr Mahesh K Goenka inaugurated the new branch.