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Federal Bank Opens First Digital Branch at Rajarhat Bhatenda

3rd February 2020: Inauguration of the first digital branch of Federal Bank – ‘Fed-e-Studio ‘at Rajarhat Bhatenda was held this Monday. Dr. Mahesh K Goenka, Director, Apollo Gleneagles Hospitals Kolkata inaugurated the facility. Fed-e-Studio offers a host of banking services round the clock. Users of the facility can do fund transfers, CTS clearing transactions, cash deposit, and withdrawal, etc. in this digital branch.

The Bank is planning to make more services like account opening, profile updation, etc. available through this kiosk in the next phase. The Bank has plans to open 25 more such digital branches in various parts of the country.

Ms. Anuradha Mondal (ADCP), Mr. Nandakumar V (Senior Vice President & Business Head (Network II) of Federal Bank), Mr. Dileep B (Vice President and Kolkata Zonal Head, Federal Bank), Mr. Sajan K P (Deputy Vice President and Kolkata Regional Head, Federal Bank), other employees of Federal Bank and guests of the Bank attended the function.

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 of 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 center for NRI customers in the UAE. The Bank also has an IFSC Banking Unit (IBU) in Gujarat International Finance Tec-City (GIFT City). Federal Bank is transforming itself, keeping its principles intact, into an organization that offers services beyond par. It has a well-defined vision for the future as a guidepost to its progress.

Related: How Property Taxes Are Calculated?

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