2017-08-19 :Indian Bank introduces the launch of Ind-GST
Indian Bank has introduced a loan for GST software, Ind-GST which is a collateral free soft loan to enable entrepreneurs update their systems to be GST compliant. The newly launched soft loan by the bank will assist business entrepreneurs to ensure timely update of their software to make them GST compliant.
2017-08-17 :Indian Bank introduces two-tier interest rate for savings account
Indian Bank has introduced a two-tier interest rate structure for its savings bank customers. Under the arrangement, the bank will offer interest at the rate of 4 per cent for balance above Rs. 50 lakhs and 3.50 per cent per annum for balance up to Rs. 50 lakh. The new interest rate is effective from 16th August, 2017.
2017-08-07 :Indian Bank sets under 5 per cent gross NPA target by March
Public sector lender, Indian Bank is looking to bring down its gross non-performing assets to below 5 per cent by March, 2018 from over 7 per cent aided by its better recovery of bad loans in the current quarter. Simultaneously, the lender is also targets to improve its net interest margin to 3 per cent from 2.79 per cent now.
2017-08-02 :Indian Bank to focus on RAM
Public sector lender, Indian Bank has said that it will focus on Retail, Agriculture and MSME (RAM) as they are easy to handle due to less number of non-performing assets in these sectors. Simultaneously, the lender is also planning to sell assets worth Rs. 540 crore to asset reconstruction companies and to raise capital to support credit growth.
2017-08-01 :Indian Bank revises interest rates on FCNR (B) deposits
Indian Bank has revised its interest rates on foreign currency non-resident (banking) term deposits effective August 1. For one year deposits, the rates are fixed at 2.45 per cent from the existing 2.43 per cent. While for deposits of above two years, the rates have been revised to 2.60 per cent from 2.59 per cent. However, the rates for deposits of up to five years are kept unchanged at 2.96 per cent.
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