Indian Bank

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Indian Bank - Total results - 52
Bad loans of Bank of Baroda, Indian Bank surge multi-fold in six years: RTI data
Business

Bad loans of Bank of Baroda, Indian Bank surge multi-fold in six years: RTI data

Non-performing assets of Bank of Baroda soared more than six-fold to Rs 73,140 crore while those of Indian Bank surged four-times to Rs 32,561.26 crore in six years, according to a Right to Information reply

Mega PSU bank merger marks new dawn for Indian banking space: Finance ministry
Business

Mega PSU bank merger marks new dawn for Indian banking space: Finance ministry

The biggest-ever consolidation exercise in the public sector banking space effected on Wednesday will mark a new dawn for the Indian banking sector, the Finance Ministry said on Wednesday

Syndicate Bank's Krishnan S appointed as executive director at Canara Bank post-merger
Business

Syndicate Bank's Krishnan S appointed as executive director at Canara Bank post-merger

In March, Canara Bank had said Krishnan will be appointed as executive director with effect from 1 April 2020 till 31 October 2020, or until further orders.

Mega-merger of PSU banks on schedule: 6 banks cease to exist from today; experts say exercise will not be smooth, seamless
Business

Mega-merger of PSU banks on schedule: 6 banks cease to exist from today; experts say exercise will not be smooth, seamless

Experts said bank merger at this point of time will not be very smooth and seamless. However, heads of the anchor banks are exuding confidence.

Indian Bank cuts various lending rates from 1 April; PSU lender reduces 1-year MCLR by 15 bps to 8.10%
Business

Indian Bank cuts various lending rates from 1 April; PSU lender reduces 1-year MCLR by 15 bps to 8.10%

Indian Bank on Monday announced a cut its lending rates following a 0.75 percentage point reduction in the repo rate by the Reserve Bank last week

Coronavirus Outbreak: Banks announce special emergency loan products, credit lines for customers
Business

Coronavirus Outbreak: Banks announce special emergency loan products, credit lines for customers

Public sector banks with about 80 percent of banking operation have taken steps to ensure the safety of its staff and uninterrupted banking services to customers.

Indian Bank NPA to rise, no change in board post-merger, says MD & CEO Padmaja Chunduru
Business

Indian Bank NPA to rise, no change in board post-merger, says MD & CEO Padmaja Chunduru

Indian Bank on Thursday said its board will remain unchanged following its merger with Allahabad Bank on 1 April, but its non-performing assets will soar

10 State-owned banks announce share swap ratios for mergers with nearing of March-end deadline
Business

10 State-owned banks announce share swap ratios for mergers with nearing of March-end deadline

The Union Cabinet on Wednesday had okayed the amalgamation of 10 public sector banks to create four large state-owned lenders with effect from 1 April, 2020

Three years after demonetisation, Rs 2,000 currency note loses sheen; banks to eject them completely from ATMs in a year
Business

Three years after demonetisation, Rs 2,000 currency note loses sheen; banks to eject them completely from ATMs in a year

Though the efforts are underway to recalibrate about 240,000 ATMs to replace Rs 2,000 notes with Rs 500 notes, the high-value notes may not be withdrawn immediately .

Mega bank consolidation: Meeting 1 April deadline appears challenging with approvals, clearances still pending
Business

Mega bank consolidation: Meeting 1 April deadline appears challenging with approvals, clearances still pending

According to a senior banker, information technology integration of Vijaya Bank and Dena Bank with Bank of Baroda is still in process even after 10 months of merger.

Govt likely to notify merger of 10 PSU banks this week; all lenders to complete amalgamation procedures by April
Business

Govt likely to notify merger of 10 PSU banks this week; all lenders to complete amalgamation procedures by April

The banks will need to follow regulatory formalities to protect the interest of minority shareholders. Each bank is required to follow the regulatory norms to protect the interests of minority stakeholders.

RBI slaps Rs 2.50 cr fine on Bank of Baroda for non-compliance of directions on Bihar NGO
Business

RBI slaps Rs 2.50 cr fine on Bank of Baroda for non-compliance of directions on Bihar NGO

Bank of Baroda on Tuesday said the RBI has imposed Rs 2.50 crore fine for non-compliance of directions issued to it with regard to Bihar-based NGO Srijan Mahila Vikas Sahyog Samiti Ltd

Bharat-22 ETF's 4th tranche to open today; govt expects to raise Rs 8,000 cr
Business

Bharat-22 ETF's 4th tranche to open today; govt expects to raise Rs 8,000 cr

An exchange-traded fund (ETF) is a basket of securities that trade on an exchange, just like a stock.

Total of 34 functional teams to smoothen bank merger of UBI, PNB, OBC; to come into force on 1 April
Business

Total of 34 functional teams to smoothen bank merger of UBI, PNB, OBC; to come into force on 1 April

The complete harmonisation among the three entities would take another 12 to 14 months after the merger

Boards of Corporation Bank, Allahabad Bank give in-principal approval for respective merger plans
Business

Boards of Corporation Bank, Allahabad Bank give in-principal approval for respective merger plans

Corporation Bank on Monday said the board has given its in-principle approval for the merger with Union Bank of India

Mega merger: PNB, Canara, Union, Indian Bank shares feel heat on bourses post-amalgamation; what is the shareholder thinking?
Business

Mega merger: PNB, Canara, Union, Indian Bank shares feel heat on bourses post-amalgamation; what is the shareholder thinking?

For better understanding, let’s look at the share movement of the acquiring banks or the anchor banks involved in the merger process.

Indian Bank expects to complete merger with Allahabad Bank by 31 March: Managing Director Padmaja Chunduru
Business

Indian Bank expects to complete merger with Allahabad Bank by 31 March: Managing Director Padmaja Chunduru

State-owned Indian Bank expects to complete the merger with Allahabad Bank by the end of current fiscal, a top official said

PSU banks merger woes: Bank officers associations to meet in Delhi on 5 September
Business

PSU banks merger woes: Bank officers associations to meet in Delhi on 5 September

Opposing the merger of banks, officers associations of various banks will meet in the national capital on 5 September to chalk out the future course of action, a top official of All India Andhra Bank Officers Association said here on Tuesday

PSB mega mergers: PNB to consider Rs 18,000-cr capital infusion in board meeting on 5 September
Business

PSB mega mergers: PNB to consider Rs 18,000-cr capital infusion in board meeting on 5 September

Finance Ministry has decided that PNB, OBC and UBI may consider the amalgamation of OBC and UBI into PNB

Government announces plan to merge 10 PSBs to 4 to gain size: Eight questions on big bank merger exercise
Business

Government announces plan to merge 10 PSBs to 4 to gain size: Eight questions on big bank merger exercise

Isn’t the consolidation plan going against the policy of Reserve Bank of India and government’s own idea to give more bank licenses to increase competition