Indian Bank or INDIANB

Indian Bank has established a part of the Swadeshi movement on 15 August 1907. It provides a broad spectrum of banking products and services. It is a pioneer in introducing Self Help Groups and Financial Inclusion Project in the country. It has also entered into the strategic tie-up with HDFC Standard Life Insurance Company Ltd., the first in the private sector to receive the Certificate of Registration for a foray into Life Insurance business for distribution of latter's insurance products. The bank has entered into an agreement named "A Memorandum of understanding" which has been signed by the Bank with the Insurance Company on 8 February 2001 to this effect. Indian Bank has two subsidiaries Indbank Merchant Banking Services Ltd, IndBank Housing Ltd. It has overseas branches in Singapore, Colombo including a Foreign Currency Banking Unit at Colombo and Jaffna.

Some of the Businesses:

1. Personal Banking:

Under this, the bank offers fixed deposits, and savings accounts, and recurring accounts, savings accounts for kids and senior citizens, and internet banking, and ATM facility with debit/credit cards, and both home & personal loans.

2. NRI services:

It also offers different banking products as well as services to NRI clients such as savings accounts, and remittance facilities, forex advisory services, home loans, and many more.

3. This particular Bank also provides cash management services (CMS), and electronic funds transfer schemes. It also offers seven–day banking at a few of its branches.

Some Awards:

1. The Bank received the Skoch Challenger Award for its financial inclusion initiatives in Pondicherry and Dharavi.
2. The Bank bagged the first prize for excellent performance under the SHG–Bank Linkage Programme conducted by NABARD.
3. Three branches of Indian banks located in Tamil Nadu were awarded best performing commercial banks.

The Milestones:

1. 2010:

• The Bank launches ASBA Phase II, Sets up Loan Syndication Desks.

2. 2011:

• Indian Bank launches "e–Treasury."
• Indian Bank wins – "Best Risk Master Award."
• Indian Bank launches 24 hours e-Banking Lounge at Alwarpet, Debit Cards for Senior Citizens and Interbank Mobile Payment Services.

3. 2012:

• The Award for bravery by Indian Bank.
• The launching of the Online Fees Payment Facility for the students of the Institute of Distance Education and Other Departments of the University of Madras.

4. 2013:

• The National Excellence Award in Micro Enterprises lending by Ministry of MSME, GOI.

5. 2014:

• The Indian Bank receives Best Bank Award for extending Credit to SHGs, from the Government of Tamil Nadu.