The Bank of Bhutan (BoB) opened its 49th branch at Pasakha industrial estate in Phuentsholing on June 15 in a simple ceremony graced by the Phuentsholing Thrompon, local leaders, officials and the local public.
With the opening of the branch, the residents need not travel all the way to Phuentsholing, 14km away to avail banking services.
The branch, although located in the industrial estate will be accessible to the all residents of Pasakha.
A bank official stated that it would cater to the banking needs of the workers, residents, and even non-Bhutanese with work permits can remit funds to their families in India and abroad.
Like any other BoB branch office, the functions of the Pasakha branch office will provide services like withdrawal, accepting demand and time deposits, accepting applications for issuing LC and BG, opening/Closing of new Current Account/Savings Account/Recurring Account/Fixed Deposit.
Providing information, on loans and services and accepting loan applications from clients, collection and clearing of cheques, providing various cards such as ATM cards, debit cards, and registration for alternate delivery channels such as M-BoB, Internet Banking, SMS banking, B-Wallet are among the services the bank will provide. Apart from these, the bank will execute standing instruction for rent payments, provide insurance premium, transfer EMI to loan accounts and other deposit accounts and accept and sanction loans.
The office will be open six days a week.
Established in 1968 through a Royal Charter, BoB is the oldest and largest bank in the Kingdom with presence in all Dzongkhags through a network of 33 branch offices and 14 extension counters.
The bank is owned by Druk Holding and Investments (the investment arm of the Royal Government of Bhutan) and the State Bank of India, the largest public sector bank in India with an 80:20 ratio.
Chencho Dema from Thimphu