Under its Project WAVE initiative, the city-headquartered bank has redesigned critical banking processes and has launched 'home loan takeover' to offer customers the benefit of best pricing, apart from vehicle loans, among many others.
A penalty of Rs 1.3 crore was imposed on State Bank of India (SBI), Rs 1.62 crore on Indian Bank, Rs 1 crore on Punjab & Sind Bank, and Rs 8.80 lakh on Fedbank Financial Services, the RBI said
KTR asks banking fraternity to not invoke the provisions of Sarfesi Act. Asks them to conduct techno-economic viability study of units and try to rescue them
The bank has said it has provided a sum of Rs 129.97 crore as on December 31 last year for the loans to seven domestic borrowers and $5.289 million for the amount lent to the foreign borrower.
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.
The accused Prabhakar was in jail for over a month and the court overruled the objection of the public prosecutor that investigation into the case was still under progress
"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.
"Banks have been able to raise a lot of money from the markets. About Rs 40,000 crores have been raised by the public sector banks both in the form equity and also AT1 and Tier II bonds.
Hyderabad: The city unit of the Central Bureau of Investigation (CBI) booked a case against Kasukurthi Constructions Private Limited and its directors for allegedly cheating Indian Bank (erstwhile Allahabad Bank) to the tune of Rs 137,36,47,228. According to CBI FIR, the company represented by its Managing Director K Jagan Mohan Rao and directors, availed loans […]
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.