About Indian Bank

Indian Bank is a full-service bank with a rich legacy and a nationwide footprint. Founded by V. Krishnaswamy Iyer, the Bank grew steadily in India and abroad marking early milestones like its Silver Jubilee and opening its first overseas operations in Colombo in 1932, and a branch in Singapore in 1941. Later highlights include the amalgamation of Bank of Thanjavur in 1990; centenary celebrations inaugurated by President A. P. J. Abdul Kalam on September 4, 2006; an Initial Public Offer in February 2007; and achieving 100% Core Banking Solutions in 2008. In 2019, Tamil Nadu Grama Bank commenced operations following an amalgamation, and the Government of India announced the amalgamation of Allahabad Bank into Indian Bank.

The Bank offers deposits, retail loans (housing, vehicle, education, jewel and other personal loans), MSME and corporate credit, agriculture finance, forex services, and a full suite of digital banking products spanning account opening to collections and payments. As of March 31, 2025, the network comprised 5,901 domestic branches, three overseas branches (Singapore, Colombo and Jaffna) and one IFSC Banking Unit at GIFT City, alongside 5,268 ATMs/BNAs and 14,667 Business Correspondents across India.

Internationally, the Bank serves customers through its branches in Singapore, Colombo and Jaffna, with the IFSC unit supporting cross-border business at GIFT City, Gandhinagar.

Subsidiaries: Indian Bank has three subsidiaries. It also holds stakes in joint ventures in general insurance and asset reconstruction.

Key milestones achieved include the Bank’s expansion in international markets, technology upgrades, and transformative integrations and amalgamations over the decades .

Indian Bank Key Management

• Shri Binod Kumar – Managing Director & Chief Executive Officer
• Shri Mahesh Kumar Bajaj – Executive Director
• Shri Ashutosh Choudhary – Executive Director
• Shri Shiv Bajrang Singh – Executive Director
• Shri Brajesh Kumar Singh – Executive Director

Latest Updates on Indian Bank

• Digital transformation: The Bank launched 121 digital journeys covering retail, agriculture, MSME and corporate segments; 95 Per cent of new savings accounts were opened digitally, and 92 Per cent of all transactions were routed through digital channels. The IndSMART mobile app expanded to 280+ functionalities with 1.94 crore users; fintech partnerships rose to 167; and the Bank integrated with RBIH’s Unified Lending Interface, processing over Rs 5,000 crore. A dual private cloud was deployed under “Project WAVE” to enhance agility and cost efficiency.
• Financial inclusion and priority segments: The Bank operated 235.29 lakh PMJDY accounts as of March 2025. It supported 3.22 lakh SHG/JLGs with disbursements of Rs 15,210 crore and led disbursements under the “Lakhpati Didi” initiative for women-led units. It achieved 104 Per cent of the annual Mudra target and 118 Per cent under Stand-Up India in FY25.
• Network and international business: Domestic branches expanded to 5,901; overseas branches and the IFSC unit continued to support international trade and NRI business with enhanced digital capabilities and 24×7 client support.
• Capital and governance: The Bank raised Rs 10,000 crore via long-term infrastructure bonds in two tranches. It also exercised a call option on Tier 2 bonds and redeemed a Tier 2 series on maturity. During FY25, regulators imposed certain monetary penalties in India and Sri Lanka, which were disclosed in the report.
• Recognition: Awards included SKOCH honours for Project WAVE and risk analytics, and Tamil Nadu Leadership Awards 2024 recognitions, among others.