India 18 September 2016: Indian Bank is established on 15th August 1907 as part of the Swadeshi movement and has strong roots throughout length and breadth of the country with a branch network of 2577 branches. Serving the nation with a team of over 20,000 dedicated staff and its total business crossed Rs.3,04,956 crores as on 30.06.2016.
Indian Bank stood at leading position amongst public sector banks in 7 parameter such as Return on Assets(0.60%), Gross NPA (6.97%), Net NPA (4.48%), Capital Adequacy Ratio (13.98%), Operating Profit (Rs.903.18 crores), Net Profit (Rs.307.36 crores) and Net Profit to Business (0.40%).Net Profit of the Bank is Rs.307.36 crores for the Q1 of FY 2016-17.
Indian Bank has introduced multiple tech products to usher the customers to Digital Banking. Indpay, a mobile app not only attracted urban educated customers but also rural mass. Quick Response Code is being used by village merchants for making cash less transactions. Online Net Banking Registration with Green Pin, Bunch Note Acceptors, Pass Book Kiosks are providing ease of banking to our customers.
Indian Bank has taken up new initiatives from Government like PM Mudra Yojana and Stand Up India with missionary zeal to support and encourage new entrepreneurial talent from lower strata of Society.
Indian Bank conducted a Nationwide Mega Loan Mela on 17.09.2016 & 18.09.2016 targeting Home Loan, Vehicle Loan and MSME Loan customers across the country. In this connection, Indian Bank, Hyderabad Zone conducted a well attended Mega Loan Mela at Visweshwarayya Bhavan, Khairtabad, Hyderabad from 10.00 AM onwards today.
Shri A.S.Rajeev, Executive Director of Indian Bank has inaugurated the Mela and Stalls set up by prominent builders, Automobile Dealers and MSME units who displayed their new projects/models/products for the benefit of enthusiastic visitors. Indian Bank waived processing fee for Home Loan/Plot Loan borrowers as a special bonanza. During the ongoing Mega Loan Mela conducted on 17th and 18th September, 2016 , Indian Bank Branches in twin cities have disbursed more than Rs.125.00 Crores to MSME/Home Loan/Vehicle Loan/Mortgage Loan Customers. Of which loans to the tune of Rs.15.00 Crores extended to 500 borrowers under PM Mudra and Stand up India.
Shri A.S.Rajeev, Executive Director addressed the press reporters and explained about the salient features of various loan products offered by Indian Bank with attractive interest rates and other beneficial features. He informed that new vertical branches in Retail and MSME segments are being inaugurated across the country to improve retail business as well as reduce turnaround time for bank’s clients. The above nationwide loan mela will be on periodical basis and customers can avail multiple benefits during these campaign periods.
Shri G.Lakshmipathi Reddy, Zonal Manager expressed his happiness about the good response received from the general public and clients in spite of inclement weather. He further informed that festive offers on Loans will be available for all customers upto 31.12.2016 and urged them to make use of this opportunity.