Thursday, 31 October 2024 | PNS | NAINITAL
To prevent cyber attacks, the Nainital Bank has tightened the security of its customers’ accounts in compliance with RBI guidelines, said the bank’s chief financial officer (CFO) Mahesh Kumar Goyal during a press conference held in Nainital.
He further informed about the launch of a new scheme for cancer healthcare coverage which offers up to Rs 10 lakhs at an annual premium of just Rs 1,500.
Goyal also shared that the bank has achieved several significant milestones till September 30. “These included a 3.153 per cent growth in total deposits on an annual basis, a 7.51 per cent increase in retail advances and a 3.20 per cent rise in gross advances. Overall, the bank’s total business has grown by 3.17 per cent year-on-year. Additionally, the bank’s net interest margin has increased to 3.34 per cent till September 30,” he added.
He further said that the provisioning coverage ratio has also improved, rising from 81.34 per cent to 89.20 per cent, during the same period while the Capital to Risk Assets Ratio (CRAR) stands at 16.48 per cent. “To enhance customer convenience, the bank introduced a 3-in-1 account (demat, trading, and savings) in partnership with SMC Global Securities,” he added.
For better customer service, the bank has also rolled out two new fixed deposit schemes. Further, the bank qualified for the Mega Milestone Award 2024 by achieving 257 per cent of the target set under the Central Government’s popular Atal Pension Yojana.
