The Hindu Business Line : Andhra Bank branches for senior citizens

These branches would have specially trained officers and staff. They would also have small clinics with general physicians who would attend to the general problems of the customers and offer value-added services such as monitoring of blood pressure and sugar levels.

The bank is also planning to have small libraries in these branches and organise cultural programmes frequently.

The bank is currently awaiting the approval of the Reserve Bank of India for opening these exclusive branches for senior citizens. The first such branch would come up at Hyderabad.

Providing these details at a large gathering of senior citizen customers here, the Executive Director, Mr R. Balakrishnan, said the bank was also discussing with the insurance companies, especially the Life Insurance Corporation of India, to provide life and health insurance covers to senior citizens above 65 years of age as well.

He was responding to the pleas of senior citizens above 65 years at the gathering that the insurers were denying them life covers after they crossed 55 years of age. The bank's recently launched two insurance-linked deposit schemes, Jeevan Prakash and Jeevan Prakash Plus, offered insurance protection to the depositors, the first one for senior citizens of 55 to 60 years and the second one 60 to 65 years.

Mr Balakrishnan said the bank had a tough time convincing LIC to provide life and health cover to the senior citizens in the age group of 55 years to 65 years under Jeevan Prakash and Jeevan Prakash Plus schemes. "We hope to convince the insurer once again on providing life and health covers to senior citizens above 65 years. If successful, we will come out with insurance-linked deposit and loan schemes for senior citizens above 65 years soon," he said.

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