For the banks that got merged, - account number, IFSC, MICR code, branch address, cheque-book, passbooks will also undergo a change to represent the new entity.
"We affirmed the ratings because we expect Indian Bank to be able to absorb a moderate deterioration in its asset quality over the next 12 months and benefit from faster-than-expected economic recovery in India," said S&P.
Indian Bank's total income rose to Rs 11,669.11 crore during September quarter this year from Rs 6,045.32 crore in the same period of the previous fiscal, it said in a regulatory filing.