Indian Bank has raised Tier 1 Capital Fund through Private Placement of Basel III compliant AT 1 Perpetual Bonds aggregating to Rs 392 crore at a coupon of 8.44% p.a. payable annually. The issuance/placement of said bonds has been completed by the bank through BSE-EBP.
Indian Bank was established as a part of the Swadeshi movement. The Bank provides a wide spectrum of banking products and services.