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News - May 2017
- 2017-05-06 : Indian Bank launches new home loan product
Indian Bank has launched a new home loan product “IB Home Enrich” for repairs and renovation of houses. The bank also highlights that there is no need for mortgage of the house property under this new loan facility. - 2017-05-05 : Indian Bank to cut base rate by 0.20% Public sector lender, Indian Bank has reduced its base rate by 0.20 per cent to 9.45 per cent. It’s earlier rates were 9.65%. The new base rate will be effective from 7th May, 2017.However, the bank has not made any changes to its marginal cost- based lending rate (MCLR).
- 2017-05-05 : Indian Bank to reduce base rate by 20 basis points Indian Bank has announced to reduce its base rate by 20 basis points to 9.45 per cent from 9.65 per cent earlier. All loans and advances related to the current base rate will become cheaper by 20 basis points. The new base rate will be effective from 7th May, 2017.
- 2017-05-03 : Indian Bank to raise Rs. 5,000 crore to fund infrastructure and affordable housing Public sector lender, Indian Bank has decided to raise Rs. 5,000 crore to support loans for infrastructure and affordable housing. Soon, bank’s board of directors will approve the proposal for the issuance of long term bonds for financing of infrastructure and affordable housing sector.
- 2017-03-28 : Indian Bank to focus on retail sector for growth Indian Bank has launched its new branch in Kovaipudur, taking its branch tally in Coimbatore to 88. The bank has decided to increase its focus on retail business. As per available data, total retail loan portfolio of the bank in Coimbatore, Tirupur and Nilgiris stands at Rs. 3,000 crore.
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