Bank of India opened its first branch in Ladakh. The branch was inaugurated by BOI Managing Director and Chief Executive Officer A K Das in the presence of Field General Manager A K Jain, Zonal Manager Vasudev, and others on October 22 at Skara, Leh.

With this, the bank has opened its 5,086th branch in India and abroad, which is fully computerized and digitized with an E-gallery facility to provide 24×7 services to Leh’s residents. The new branch aims to boost economic activities in the region, but will also facilitate the local people to various banking products like housing, education, vehicle, and agricultural loans, and also reap the benefits of other government schemes.

Addressing the gathering, Managing Director A K Das termed the opening of the branch in Ladakh a historical moment. He said, “Though the population is small but, the business potential in Ladakh is immense. The bank will continue to provide the best-quality banking facilities to its customers and connect more people to mainstream banking with fully digitized facilities.”

He further informed that for the defense and paramilitary personnel, the bank added that it has a unique salary account scheme providing free insurance cover. The bank has reduced the interest rates for vehicle loans to 6.85% and 6.50% for housing loans.

General Manager AK Jain appealed to people's support to keep the function of the bank ongoing so that more and more people of the region avail all sorts of banking facilities.

The bank conducted a customer outreach programme, wherein it distributed loan sanction letters to various beneficiaries. This was done as a part of the bank’s mission to reach a maximum number of customers in India.

Senior officials from RBI Jammu and Branch Manager Sangeeta also spoke on the occasion.