Indian Bank Launched “Resources Acquisition Centres”

Current Context: Indian Bank launched Resources Acquisition Centres (RACs) to build-up its deposit portfolio and provide relationship banking services to its high-value clients, the bank plans to open 20 RACs at ultra potential centres in phase-I.

• The first RAC was inaugurated in Mumbai on July 20, 2023 by Mahesh Kumar Bajaj, the executive director of Indian Bank. He said that the RACs will help the bank to strengthen its retail deposit portfolio, which includes current deposit, savings bank and term deposit accounts.
• The RACs will also focus on specific customer segments, such as HNIs, government/institutional clients, salaried class, corporates, business community, traders and pensioners.
• The RAC team will consist of proactive, responsive and digitally empowered relationship managers who will aim to deepen existing client relationships and attract potential new clients.
• This initiative is expected to yield path-breaking results for the bank and its customers.

Question:

Q.1 How many RACs does Indian Bank plan to open in phase-I?
a. 10
b. 15
c. 20
d. 25