Manipal Technologies Limited (MTL) has partnered with Indian Bank to drive financial inclusion by offering customised banking products.

Banking & Finance

Manipal Technologies Limited (MTL) has partnered with Indian Bank to drive financial inclusion by offering customised banking products. The partnership aims to build a sustainable network of corporate business correspondents (CBCs) that will enhance the availability, affordability, and accessibility of financial services, particularly in underserved markets and rural areas. The initial focus will be serving more than 600 locations and gradually expanding the presence in newer regions in states such as Tamil Nadu, Chhattisgarh, Uttar Pradesh, Kerala, Maharashtra, Haryana, and Punjab. The bank reported a 47 percent rise in net profit to Rs1,447 crore for the March quarter, helped by a decline in bad loans and a rise in interest income. For the year ended March 2023, the Chennai-based lender’s profit increased by 34 percent to Rs5,282 crore against Rs3,945 crore in FY2022.


     

      The initial focus will be serving more than 600 locations and gradually expanding the presence in newer regions in states such as Tamil Nadu, Chhattisgarh, Uttar Pradesh, Kerala, Maharashtra, Haryana, and Punjab.

     

 

     


          ____________________________