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Bank of India on Friday opened its first branch in Union Territory of Ladakh. A top official said  the bank is committed to extending its services to the people living in far-flung areas of the country.

The 5,086th branch of the bank was opened by BOI Managing Director and Chief Executive Officer A K Das in the presence of Field General Manager A K Jain, Zonal Manager Vasudev and others. 

The branch is fully computerised and digitised with a facility of E-Gallery to provide 24x7 banking to the residents of Leh.

"The bank is fully committed to extending its banking services to the people living in the far-flung areas of the country. The opening of a branch here is an important step towards this goal," Das said.

Noting that it would boost economic activities in the region, he said it will also help the local people to use various banking products like housing, vehicle, education and agriculture loans, and also reap the benefits of other government schemes.

Das added that the bank has a unique salary account scheme for defence and paramilitary personnel providing free insurance cover.

"The bank also provides home, vehicle and consumer loans at low rates. Recently, the bank has reduced the interest rate for housing loans to 6.50 per cent and that for vehicle loans to 6.85 per cent," he said.

Das added that the bank will continue to endeavour to provide the best-quality banking facilities to its customers and connect more and more people to mainstream banking with fully digitised facilities.

(With inputs from agencies)

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