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Indian Bank gets RBI's nod to set up wholly owned operations support subsidiary

19 Jan 2024 Evaluate

Indian Bank has received an approval from the Reserve Bank of India (RBI) for setting up a new Wholly Owned Operations Support Subsidiary by the Bank. Earlier in September, RBI had imposed a monetary penalty of Rs 1.62 crore on Indian Bank (the bank) for non-compliance with certain directions issued by RBI on ‘Loans and Advances - Statutory and Other Restrictions’, ‘Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016’ and ‘Reserve Bank of India (Interest Rate on Deposits) Directions, 2016’. 

Indian Bank was established as a part of the Swadeshi movement. The Bank provides a wide spectrum of banking products and services.


Indian Bank Share Price

930.10 -8.85 (-0.94%)
20-Apr-2026 15:04 View Price Chart
Peers
Company Name CMP
SBI 1108.30
PNB 113.95
Canara Bank 142.60
Bank Of Baroda 281.85
Union Bank Of India 190.10
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