Page 7 - Indian Bank

One month of bank merger: Coronavirus lockdown proves a dampener

On April 1, Punjab National Bank (PNB) took over Oriental Bank of Commerce (OBC) and United Bank of India (UBI) to become the country's second-largest lender after SBI in terms of business

Indian Bank sees new opportunities with larger footprint after merger

Both the banks have come together amid the coronavirus (Covid-19) lockdown and started working as a single bank with a larger footprint.

No immediate plans to exit Universal Sompo: Padmaja Chunduru of Indian Bank

In a March 31 Q&A, the lender's MD & CEO dwells on its strengths following the amalgamation with Allahabad Bank

Indian Bank allots 520.5 mn shares to Allahabad Bank shareholders

The bank is in the process of filing listing applications with the stock exchanges

Market Ahead, April 1: Top Factors That Could Guide Markets Today

Starting today, automobile companies will starting releasing sales numbers for March. According to a Business Standard report, these auto sales for the month could see a 50 per cent YoY

Coronavirus outbreak: Consolidation in PSB space now a reality

Each of the amalgamated entities with scale and national reach would have a business of over Rs 8 trillion.

Bank mergers: Allahabad Bank branches are now Indian Bank branches

Effective April 1, Allahabad Bank will merge with Indian Bank, creating an entity with over 6,000 branches, 4,800 ATMs, 43,000 employees, 120 million customers and business mix of Rs 8 trillion

Indian Bank launches mobile ATM to help public deal with Covid-19 crisis

Customers of other banks can also use the facility

Coronavirus outbreak disrupts PSB merger as banks put programmes on hold

According to the banks, they have either put the sessions on hold or are opting for e-learning instead of classroom sessions.

Indian Bank urges customers to go digital to keep Coronavirus at bay

Advises them to avoid ATMs and cash deals, says mobile and internet banking are both safe and convenient

Share exchange ratio for merger remains unchanged, says Indian Bank

The Board of Directors on March 5 approved fair equity share exchange ratio at 115 equity shares of Rs 10 each of Indian Bank for every 1000 shares of Rs 10 each of Allahabad Bank

FM Nirmala Sitharaman to review bank merger preparedness on Thursday

Banks likely to set up common call centres and monitoring cells

PSB merger: Indian Bank announces equity exchange ratio with Allahabad Bank

The government had in August last year announced plans to merge 10 public sector banks (PSBs) into four

Post merger, Allahabad and Indian Bank to have 10,000 branches in 2 years

At the end of December 2019, the total business of Allahabad Bank was close to Rs 3.94 trillion, while that of Indian Bank was close to Rs 4.5 trillion

Letter to BS: Indian Bank's plea on Rs 2000 notes is out of sync

Commercial banks have to mandatorily go by the Reserve Bank of India (RBI) guidelines related to the operations of the ATMs, issued from time to time

Larger balance sheet helps you give bigger loans: Indian Bank's Chunduru

'Indian Bank is strong in terms of business correspondents', said Chunduru

Indian Bank posts 74% growth in PBT at Rs 390.35 crore for Q3FY20

The performance was in line with expectations, Padmaja Chunduru, MD & CEO, Indian Bank said

RBI slaps Rs 1.75-crore penalty on Indian Bank for non-compliance

The non-compliance included the opening of savings bank accounts of a co-operative society and non-adherence with directions on KYC

RBI slaps Rs 2.50-crore fine on Bank of Baroda over non-compliance

It is alleged that there was illegal transfer and misuse of funds from government accounts

Indian Bank reports Rs 1,004-crore divergence in provisioning for bad loans

The bank had reported a provisioning of Rs 6,131.86 crore for non-performing assets, while the RBI had assessed provisions of Rs 7,135.85