The Reserve Bank of India (RBI) has granted approval to Indian Bank, a leading public sector bank, to establish a wholly-owned subsidiary, focusing on operational support services.
The strategic move aims to enhance operational efficiency, allowing Indian Bank to concentrate more effectively on core banking functions.
The subsidiary’s primary objective is to streamline processes and improve customer service, aligning with Indian Bank’s broader goal of optimizing operations.
By creating a dedicated entity for support services, the bank aims to alleviate the administrative burden and sharpen its focus on core banking activities.
The RBI’s approval signifies a significant milestone for…
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