High Commissioner of India, Mr. Ashok K. Kantha and Governor of Central Bank of Ajith Nivard Cabraal inaugurated the Jaffna branch of the Indian Bank on 21 January, 2011. The Chairman & Managing Director of Indian Bank Mr. T. M. Bhasin was also present during the ceremony.
Indian Bank has been in Sri Lanka since 1932. In Jaffna, the Bank is looking at self-help group based lending, especially to agriculture, diary, and fisheries using a model which has been successful in India. The thrust and focus in Jaffna of the Indian Bank is going to be micro finance and rural lending.
The opening of the Jaffna Branch of Indian Bank will help in revival of industrial and economic activities in the Northern Province and will help in forging closer business links between the two countries.