Public sector lender Indian Bank said it would continue to make huge investments in IT infrastructure, building digital banking capabilities in FY24, as the Chennai-headquartered bank believes that a successful digital transformation would lead to increased profitability and provide strategic growth advantages.The bank spent about ₹1,600 crore in IT infrastructure and associated areas during the last three years and plans to spend ₹500-600 crore in IT and digital banking segments this fiscal.After the successful completion of the amalgamation of Allahabad Bank with itself, Indian Bank launched Project WAVE (World of Advanced Virtual Experience) in January 2022 by defining a digital…
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Indian Bank looking digital forward with large outlay
