Indusind Bank to expand with new branches in Ayodhya

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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.

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