Extend loan automatically to all eligible borrowers without fear of CBI, CVC and CAG: Nirmala Sitharaman to banks
NEW DELHI: India’s Finance Minister Nirmala Sitharaman on Saturday said banks have been asked to extend loans automatically to eligible borrowers without fear of 3Cs — CBI, CVC and CAG. She said clear instructions have been given in a meeting with CEOs and MDs of public sector banks and financial institutions on Friday that the […]
RBI slaps Rs 1 crore fine on Indian Bank for violating cyber security norms
NEW DELHI: The Reserve Bank of India (RBI) on Tuesday said it has imposed a fine of Rs 1 crore on Indian Bank for violating cyber security norms. The RBI has imposed, by an order dated November 30, 2018, a monetary penalty of Rs 10 million on Indian Bank for contravention of Circular on Cyber […]
Indian Bank raises Rs 110 crore through bonds
NEW DELHI: Indian Bank said Wednesday that it has raised Rs 110 crore through bonds.The Basel III Compliant Tier 2 bonds, with a coupon rate of 8.85 per cent per annum, were raised on Tuesday. The bonds have tenor at 10 years and call option after completion of 5 years on private placement basis, an […]
Padmaja Chunduru assumes charge as Indian Bank’s Managing Director and CEO
NEW DELHI: Public sector Indian Bank Monday said Padmaja Chunduru has assumed charge as its managing director and CEO with immediate effect. Earlier, she served State Bank of India as its deputy managing director (global markets), Mumbai, a press release said here. Chunduru succeeds Kishor Kharat. Recently, the Appointments Committee of the Cabinet headed by […]