Page 5 - Indian Bank

Indian Bank reports 3 NPA accounts worth over Rs 35 cr as fraud to RBI

Indian Bank on Thursday reported three accounts as fraud to the RBI with total outstanding of over Rs 35 crore

Indian Bank seeks shareholders nod for Rs 4,000 cr equity capital raise

State-owned Indian Bank on Tuesday said it held an extra-ordinary general meeting (EGM) to seek shareholders nod for raising equity capital up to Rs 4,000 crore through various means. Extraordinary General Meeting (EGM) of the bank was held on 2nd March, 2021 through video conferencing/other audio visual means in accordance with government guidelines, the bank said in a regulatory filing. The EGM was chaired by bank MD&CEO Padmaja Chunduru who informed that sole agenda of the meeting was to seek approval of shareholders by way of passing special resolution to raise equity capital up to Rs 4,000 crore through QIP/FPO/rights issue or any combination of these, Indian Bank said. "The resolution seeks to enable the bank to create, offer, issue and allot equity shares by way of follow on public offer and/or on a private placement basis or any other mode approved by GOI and RBI. The issue proceeds will enable the Bank to strengthen its capital base to support growth," it said. As of now,

Indian Bank, IISc-run society join hands to fund start-ups and MSME

Society for Innovation and Development (SID) will identify start-ups and MSMEs based on their credentials and refer the list of such members that require financial assistance to the bank

Indian Bank signs MoU with IISc initiative to fund start-ups, MSMEs

State-owned Indian Bank on Friday said it has entered into an MOU with Society for Innovation and Development (SID), an initiative of Indian Institute of Science, for extending exclusive credit facility to Start-ups and MSMEs. This initiative is a part of the Banks scheme Ind Spring Board for financing Start-ups and will empower Start-ups and MSMEs to realise their research efforts powered by financial support from the Bank and backed by incubation facilities offered by SID, it said in a release. The Bank will extend loans of up to Rs 50 crore to these start-ups for their working capital requirements or for purchase of machinery, equipment etc, it added. Stating that SID is the forerunner in setting up joint R&D with industries and supporting start-up incubation, the bank said, it provides support to the MSME sector by providing joint research and development arrangements and technical and financial support for incubation and acceleration of high-end technology ...

Allahabad Bank merger: Combined CBS platform a success, says Indian Bank

This is the final step in the amalgamation, with data of 3,000-plus branches and all channels of erstwhile Allahabad Bank migrating seamlessly to Indian Bank database

Indian Bank integrates core banking software of erstwhile Allahabad Bank

Indian Bank on Monday said it has successfully integrated the software system with the erstwhile Allahabad Bank post the amalgamation

Indian Overseas Bank posts net profit of Rs 213 crore in December quarter

The firm posted a net profit of Rs 212.87 crore for the quarter ending December 2020 as provisions for bad loans declined

PSBs extend gain on privatisation hope; Indian Bank surges 37% in 4 days

In past four trading days, Nifty PSU Bank index has rallied 18 per cent as compared to a 9 per cent gain in the benchmark Nifty50

Indian Bank reports Q3 net of Rs 514 cr versus loss in year-ago quarter

Board clears Rs 4,000 cr equity raising plans to reduce GOI stake below 75 per cent

Indian Bank gets board approval to raise Rs 4,000 cr from share sale

The bank looks to enhance its capital base

Banking: Yesterday, today and tomorrow

With the customer spoilt for choice, the option for the banking industry in the new decade is between going digital or dying

S&P affirms Indian Bank's 'BBB-' rating, removes from CreditWatch

The Chennai-based public sector lender is expected to benefit from faster-than-expected economic recovery in India

Indian Bank declares IFIN account as fraud with over Rs 408 cr outstanding

In October, Punjab and Sind Bank had also reported the account of IFIN as fraud with outstanding dues of over Rs 561 crore to the RBI

Indian Bank makes requisite accounting entries to set off losses

On November 30, at EGM the Bank approved the appropriation of accumulated losses of Rs 18,975.53 crore from the share premium account of the bank

ICICI Bank, Indian Bank at risk of becoming 'fallen angels', warns S&P

S&P terms an entity a "fallen angel" if its rating is lowered to speculative-grade from investment-grade

PSBs: Sustaining Q2 momentum for a year key to regaining lost faith

Q2 results suggest a trend of easing asset quality issues and the weight of merger behind them

Indian Bank Q2 net at Rs 412 crore versus Rs 1,755 cr loss a year ago

Lender expect credit growth to be 8-10 % this fiscal

Indian Bank posts Rs 412 cr net profit in Q2 on fee income, lower bad loans

State-run Indian Bank on Thursday reported a standalone profit after tax of Rs 412 crore in the quarter ended September, helped mainly by fee income, treasury profits and lower bad loans.

Indian Bank Q2 net at Rs 412 crore versus Rs 1,755 cr loss a year ago

Lender expect credit growth to be 8-10 % this fiscal

Indian Bank partners IIT-Madras to set up incubation cell for startups

State-owned Indian Bank in collaboration with IIT-Madras Incubation Cell (IITMIC) on Tuesday launched an initiative for funding start-ups.