Indian Bank has further raised tier 1 capital fund through private placement of Basel III compliant AT 1 (additional tier 1) perpetual bonds aggregating to Rs 560 crore. The coupon on the bonds was 8.44 percent per annum payable annually. The issuance/placement of said bonds has been completed by the bank through BSE-EBP (bond platform).
Indian Bank was established as a part of the Swadeshi movement. The Bank provides a wide spectrum of banking products and services.