Indusind Bank to expand with new branches in Ayodhya

  • Investing.com
  • Stock Market News
Indusind Bank to expand with new branches in Ayodhya
Credit: © Reuters.

AYODHYA - Indusind Bank has announced its plan to open four new branches in Ayodhya, a move seen as a strategic response to the anticipated business growth stemming from the opening of the Ram Temple. This expansion is part of a broader trend among banks to increase their presence in the area, with institutions like HDFC Bank (NS: HDBK ), J&K Bank, and Karnataka Bank (NS: KBNK ) also setting up additional branches and ATMs.

The competition among these banks is partly driven by the lucrative prospect of managing the accounts of the Ram Mandir Trust, which are known to contain a significant amount of funds. Since the Supreme Court's landmark decision in November 2019, Ayodhya has seen a surge in commercial activity and improvements in infrastructure. This development is expected to attract more visitors, creating a higher demand for banking services in the city.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100

Related Articles