Page 2 - Indian Bank

Nifty Bank forms Golden Cross; SBI, HDFC Bank, ICICI Bk can surge up to 18%

Here are trading strategies for key banking stocks that will help you maximise your gain.

Banks in talks with Singapore's DBS to begin real-time remittance system

At least five Indian banks, including the State Bank of India and ICICI Bank, are in discussions with Singapore's DBS Bank to start a real-time remittance system using UPI as the backbone

Indian Bank hikes MCLR by 0.10% across tenors from September 3

State-owned Indian Bank has revised the marginal cost of funds-based lending rates (MCLR) by 0.10 per cent across tenors from Saturday, which will make most of the consumer loans costlier. It has also revised the lending rates benchmarked on treasury bills. The Asset Liability Management Committee (ALCO) of the bank has reviewed the Benchmark Lending Rates and decided on an upward revision in MCLR and TBLR across various tenors, the lender said in a regulatory filing on Thursday. The benchmark one-year MCLR will be 7.75 per cent from September 3 against the existing rate of 7.65 per cent. The one-year rate is used to fix most consumer loans such as auto, personal and home loans. The overnight to six months tenor MCLRs are raised by 0.10 per cent each in the range of 6.95 to 7.60 per cent. Besides, the lender also revised the treasury bills benchmark lending rate (TBLR) in the range of 5.55 per cent to 6.20 per cent for various tenors.

Nifty PSU Bank index can rally up to 13%; check top stock picks

The PSU Bank index has rallied 31 per cent as against a 16 per cent surge in the benchmark from June lows; Among stocks, Bank of Baroda, Indian Bank and Union Bank of India can rally up to 16%.

IDFC, Indian Bank, Yes Bank put SpiceJet loans on high-risk: Report

The lenders are concerned about SpiceJet's cash flows and have held discussions seeking assurances from the budget carrier, as it is behind on payments to some aircraft lessors, say sources

Indian Bank inks MoU with SRM University in Andhra to lend up to Rs 50 cr

This collaboration will further strengthen the MSME sector, stated University Registrar Dr. R Premkumar, signing the MoU.

Indian Bank posts 4% rise in net profit to Rs 1,311 crore in first quarter

Total income of the bank during the April-June quarter of 2022-23 also increased by 3 per cent to Rs 11,898 crore from Rs 11,553 crore in the year ago period

Stressed accounts of Rs 2,500 cr identified for bad bank: Indian Bank

The bank's managing director and chief executive officer Shanti Lal Jain has said that out of the total eight accounts that were identified in the first phase, three were already resolved

Indian Bank Q1 net profit at Rs 1,213 crore; total deposit up 8%

Public sector Indian Bank closed the first quarter of FY23 with net profit of Rs 1,213.44 crore, higher than what it had logged during Q1FY22

After PMC Bank, Wadhawans duped Indian Bank of Rs 279 crore

The Chennai-based public sector Indian Bank has admitted to a major loan default of Rs 279 crore by the realty group, Housing Development & Infrastructure Ltd (HDIL) Mumbai, and its suspended Directors -- Rakesh Kumar Wadhawan and son Sarang Wadhawan.

Indian Bank makes pregnant women 'temporarily unfit' for joining

This retrograde clause is highly discriminatory to women, the AIDWA said in its statement

Indian Bank declares 3 accounts with exposure worth Rs 362 cr as fraud

Indian Bank on Friday said it has reported three non-performing accounts, including IL&FS Tamil Nadu Power Ltd, as fraud to the RBI and the public sector lender has a combined exposure of over Rs 362 crore to these companies. Three non-performing accounts have been declared as fraud and have been reported to the Reserve Bank of India (RBI) as per regulatory requirement, Indian Bank said in a BSE filing. The nature of fraud comes in the form of diversion of funds in all these cases, the bank said. IL&FS Tamil Nadu Power has a fraud amount of Rs 320.34 crore against the bank, followed by Amico Textiles at Rs 30.98 crore and Sarbamangala Agro Products of Rs 11.26 crore. The bank said it has made provisions of up to 100 per cent in all these three fraud accounts as of March 31, 2022.

Stocks to Watch: CoForge, MRPL, Petronet, JSW Ispat, PNB, Birla Corp, PSBs

Stocks to Watch Today: Aditya Birla Capital, Apollo Tyres, GSPL, HCC, L&T, RBL Bank, Siemens and Tata Motors ahead of Q4 earnings; Prudent Corporate Advisory Services IPO to close on Thursday.

Indian Bank net profit falls 43% in Q4, says asset quality improving

The state-owned bank's total income this time was up 9 per cent to Rs 11,405 crore.

Maruti Suzuki joins hands with Indian Bank for car loans

Maruti Suzuki India (MSI) on Wednesday said it has joined hands with Indian Bank to facilitate easy finance for customers. As part of the partnership, the company's customers can avail the loan benefits in over 5,700 plus branches of Indian Bank at metro, urban, semi-urban and rural locations. Maruti Suzuki customers, under this exclusive scheme, can avail loans up to 90 per cent of the on-road price of the car besides getting benefits of zero processing charges, free accidental insurance cover up to Rs 30 lakh, free fastag and repayment tenure up to 84 months on their loans. The scheme is open till June 30 2022. "About 80 per cent of retail sales in the automobile industry happen through financing and to enable our customer's car-buying decisions, Maruti Suzuki has initiated several partnerships with banks & NBFCs across the public and private sectors. It is our firm belief that this partnership with Indian Bank will go a long way to cater to the diverse finance requirements of .

PNB board to consider debt raising plan for FY23 on Mar 29

The bank has not provided details on how much capital it is planning to raise via debt in 2022-23

Stocks to Watch: Voda Idea, Wockhardt, KEC Intl, Tata Motors, Pharma, PSBs

Pharma shares are likely to be in limelight as NPPA may allow up to 10 per cent hike on scheduled drugs in the month of April.

Future Retail NPAs: Indian Bank to take Rs 800-crore hit in fourth quarter

Earlier, a consortium of 27 banks had indicated they would have to make combined provisions of around Rs 9,000 crore due to non-payment by the retailer.

Spike in credit demand from corporate, RAM segments: Indian Bank MD & CEO

In a Q&A, Shanti Lal Jain talks about recovery in demand, bad loan trends and the status of Covid recast

Indian Bank net profit rises 34% to Rs 690 crore in Dec quarter

'A major reason for the rise in net profit was improvement in asset quality', said Shanti Lal Jain