Category: Indian Bank

Market Live: India keeps edible oil import duty lower until March 2025| Commodities Corner

On Tuesday, the Indian government announced a one-year extension of the reduced import duty on edible oil, now effective until March 2025. The initial expiration date for the lower import duty on crude palm oil, crude sunflower oil, and crude soy oil was set for March of this year. As the largest global importer of vegetable oil, India has opted to maintain the lowered import duty structure. Notably, the basic import duty on refined soybean oil and sunflower oil was reduced from 17.5% to 12.5% in June of…
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Source: https://www.moneycontrol.com/

16 Jan 2024, 08:09:20 AM ISTIndian Bank share price Live :Indian Bank closed at ₹433.15 on last trading day On the last day, the volume of shares traded for Indian Bank on the Bombay Stock Exchange (BSE) was 135,185. The closing price for the shares was ₹433.15.
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Source: https://mintgenie.livemint.com/amp/news/markets/indian-bank-share-price-live-blog-for-16-jan-2024-151705372754930

PSU lender Indian Bank on Tuesday said it has received approval to raise capital up to ₹4,000 crore.The committee of directors for capital raising, at its meeting held on Tuesday, accorded approval for raising of equity capital of the bank aggregating up to ₹4,000 crore (including premium) through Qualified Institutions Placement (QIP) in one or more tranches subject to all statutory and regulatory approvals, the banks said in a filing to stock exchanges.
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Source: https://www.thehindubusinessline.com/money-and-banking/indian-bank-gets-nod-to-raise-upto-to-4000-cr-via-qip/article67251776.ece/amp/

Indian Bank has partnered with OneCard to introduce state-of-the-art, mobile-first, contactless, metal cobranded credit cards, OneCard said in a release today.

OneCard is a metal credit card designed exclusively for mobile use that FPL…
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Source: https://www.livemint.com/companies/news/indian-bank-partners-with-onecard-to-launch-mobile-first-co-branded-credit-cards-11693825334342.html

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This month, some state-run banks issued internal circulars asking their senior executives not to conduct business conclaves, seminars or felicitations till the end of March. The first to do this was the State Bank of India, which on January 2 barred all its senior employees from holding business conclaves, seminars, or felicitation functions till March 31. Indian Bank and Bank of Baroda issued similar circulars in the following days, as Moneycontrol reported.
Why did the banks do this? The basic idea is to…
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Source: https://www.moneycontrol.com/news/business/banking-central-indian-banks-finally-wake-up-to-problem-of-mis-selling-12054211.html/amp

The current stock price of Indian Bank is ₹433.5. There has been a small percent change of 0.08, indicating a slight increase in the stock price. The net change is 0.35, suggesting a positive movement in the stock. Click here for Indian Bank Ratios
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Source: https://mintgenie.livemint.com/amp/news/markets/indian-bank-share-price-live-blog-for-15-jan-2024-151705286224639

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Indian Bank expects to recover Rs 8,000 crore worth of non-performing assets (NPA) this financial year, managing director Shanti Lal Jain said in an exclusive interview with Moneycontrol. The state-owned bank has already recovered Rs 4,272 crore so far this year, he said on November 7.
Jain said the lender has the Reserve Bank of India’s (RBI) approval to set up a back-office operation subsidiary. Edited excerpts:

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What is the outlook on loan recovery?
At…
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Source: https://www.moneycontrol.com/news/business/mc-interview-indian-bank-expects-rs-8000-crore-loan-recovery-this-year-md-jain-11695671.html/amp

The Reserve Bank of India’s (RBI) move on Thursday to increase risk weight on banks and non-banking finance companies’ (NBFCs) unsecured personal loan and credit card portfolio would likely hit the capital adequacy ratio (CRAR) of NBFCs more against that of banks, experts say.

According to a report by Jefferies, country’s largest NBFC Bajaj Finance will likely witness a 220 basis points (bps) moderation in its capital position as of September end, whereas SBI Cards would see its capital ratio moderating by 402 bps. Cyrus Poonawala promoted Poonawala Fincorp also expects an impact of around 220 bps in its capital adequacy ratio due to the RBI’s diktat.

Banks including SBI,…
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Source: https://www.financialexpress.com/business/banking-finance-nbfcs-to-face-more-heat-than-banks-3310184/

Indian Bank has launched its qualified institutional placement to raise up to Rs 4,000 crore.The company’s board has set the floor price for the issue at Rs 414.44 apiece, a discount of 5.28% from its previous close on the NSE.In its meeting held on May 8, the board approved raising up to Rs 4,000 crore.The company informed that it may, at its discretion, offer a discount of not more than 5% on the floor price.On Dec. 11, Jammu and Kashmir Bank Ltd. had also launched its QIP to raise up to Rs 750 crore. The floor price for the issue was decided by the board at Rs 112.66 apiece. Earlier, the Bank of India had raised funds of up to Rs 4,499 crore through the QIP at an issue price of Rs…
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Source: https://www.ndtvprofit.com/amp/economy-finance/indian-bank-launches-qip-to-raise-rs-4000-crore