Indian Bank has received communication from the Government of India, Ministry of Finance, Department of Financial Services regarding fresh capital infusion of Rs 2534 crore towards contribution of the Central Government in the preferential allotment of equity shares.The said capital infusion fund of Rs 2534 crore has been remitted by the Government of India on date and the same is being maintained by the Bank as ‘Share Application Money’, pending allotment.
Indian Bank was established as a part of the Swadeshi movement. The Bank provides a wide spectrum of banking products and services.