A premier bank owned by the Government of India, The Indian Bank was incorporated on March 5, 1907 as 'Indian Bank Limited' and commenced operations in 15 August 1907 as part of the Swadeshi Movement. Indian Bank has many deposit schemes tailored to suit the needs of its customers, both individuals and organisations. Credit/Advances/Loan Schemes specifically designed for its customers. Also it offers various novel services to customers, both individuals and organisations.
The Bank opened its first overseas branch in Colombo, Sri Lanka during the year 1932 and also opened its Singapore branch in 1941. In the year 1962, Indian Bank acquired the businesses of Royalaseema Bank, the Bank of Alagapuri, Salem Bank, the Mannargudi Bank and the Trichy United Bank. The Bank was nationalised in 19th July of the year 1969. The Bank name was changed to Indian Bank after the nationalisation. It was appointed as the lead bank for nine districts in the States of Tamil Nadu, Andhra Pradesh and Kerala and the Union Territory of Pondicherry. The first regional rural bank sponsored by the Bank, Sri Venkateswara Grameena Bank, was founded in the year 1981. Indbank Merchant Banking Services Ltd was incorporated as a subsidiary of the Bank during the year 1989. The Bank of Thanjavur Limited (with 157 branches) was amalgamated with the Bank during the year 1990. Ind Bank Housing Limited was incorporated in the year 1991 as a subsidiary. Indfund Management Limited was established in 1994 to manage ... the operations of Indian Bank Mutual Fund. During the year 1995, The Bank's own training establishment, Indian Bank Management Academy for Growth & Excellence (IMAGE) was established. Indian Bank has launched a scheme called Cash Management Services' in the year 2001 for speedy collection of outstation cheques. The Bank entered into a strategic tie-up with HDFC Standard Life Insurance Company Ltd., the first in the private sector to receive the Certificate of Registration for foray into Life Insurance business for distribution of latter's insurance products.
The Bank with the Insurance Company signed a Memorandum of understanding in February of the year 2001. In 2002-03, Indian Bank received an award from NABARD for best performance under Self Help Group (SHG) in Tamil Nadu and Andhra Pradesh. In 2003, The Bank made association with the M S Swaminathan Research Foundation (MSSRF), Chennai to sponsor a programme on agriculturists to be aired on the All India Radio. The Bank in two branches implemented the Core Banking Solution in December of the year 2004. The Bank signed an agreement with Export Credit Guarantee Corporation of India in the year 2004 to distribute the latter's credit insurance packages for exporters and also in the same year the Bank joined hands with TimesofMoney for remittance solution, introduced 'IB Swarna Abharana' a new loan product for buying gold jewellery and made tie-up with Tamil Nadu Newsprint and Papers Ltd (TNPL) for financing farmers taking up farm forestry project with the sponsorship of TNPL. During the year 2004-05, The Bank entered into strategic alliance with Mahindra & Mahindra Limited and TAFE Limited for pushing up tractor usage among farmers. In the year 2005, the Bank made tie up with three overseas companies for money transfer, signed the papers with the National Exchange Company of Doha, Mussandum Exchange Company of Oman and Abu Dhabi-based UAE Exchange Company.
In 2006, Indian Bank sets up new branch in Mumbai and also launched the Bharat Card. During the year 2006-07, The Bank entered into a strategic alliance with Oriental Bank of Commerce and also with Corporation Bank. As of March 2007, Indian Bank launched Ind on-line Doorstep Banking to deliver Banking and Financial Services at the doorsteps of the common man. The Bank signed an agreement with Indian Railway Catering and Tourism Corporation Limited (IRCTC) for offering train ticket booking services through IRCTC website http://www.irctc.co.in/. The agreement was signed in 1st August of the year 2007 at New Delhi and also in December of the year 2007 Indian Bank entered into a MoU with Indian Railways to install ATMs in 51 Railway Stations across the country. Of these, 34 stations will have e-ticketing kiosks also along with ATMs. Indian Bank and SME Rating Agency of India Ltd. (SMERA) formally executed an MOU in January 31st 2008 for extending their co-operation in the arena of financing of SME sector. Indian Bank won the Financial Express's Best Bank Award 2008.
Indian Bank launched Application Supported by Blocked Amount (ASBA) Phase II in Mumbai on 3 May 2010. ASBA functions as an application for subscribing to a public issue or rights issue along with an authorization to a Self Certified Syndicated Bank (SCSB) to block the application money in the bank account maintained with it. On 2 August 2010, Indian Bank signed Memorandum of Understanding (MOU) with Unique Identification Authority of India (UIDAI) to act as Registrar for AADHAR' project. On 18 October 2010, Indian Bank announced the opening of its 1800th branch in Noida, Gautam Budh Nagar, Uttar Pradesh.
The Board of Directors of Indian Bank at its meeting held on 27 November 2010 approved a proposal to transfer the Depository Participant (DP) business of the bank to its subsidiary company viz. M/s. Indbank Merchant Banking Services Limited and to stop operations of existing Indian Bank DP services on completion of successful transfer of DP business. On 16 December 2010, Indian Bank announced that it has entered into a three year agreement with TCS Limited for end to end ICT based Financial Inclusion Solution, deploying the Smart Card based Business Correspondent Model.
On 21 January 2011, Indian Bank opened its second branch in Sri Lanka at Jaffna. With this the International presence of Indian Bank has gone up to three viz., in Singapore, Colombo and Jaffna.
On 5 May 2011, Indian Bank informed the stock exchanges that the bank has received the approval of Government of India to raise an additional Equity Capital of Rs 61.40 crore through book-building process by its Follow-on Public Offer, comprising 6.14 crore Equity Shares of Rs 10 each at a premium to be decided by the bank.
On 1 August 2011, Indian Bank announced that it has entered into an agreement with SBI Fund Management Private Ltd. to act as distributors to sell Mutual Fund products of SBI Mutual Fund, one of the largest Mutual Funds in India. With this accord, Indian Bank customers will have access to three top Mutual Funds of the country, as the bank already has tie up with UTI Mutual Fund and Reliance Mutual Fund.
On 2 September 2011, Indian Bank launched its e-Treasury platform, combining the Domestic and Forex Trading on a Common Software Package, which analyses profitability, risk and costing aspects through different markets.
On 27 September 2011, Indian Bank signed MOU with Wells Fargo Bank, National Association, a national banking association incorporated in USA. In terms of MOU, Indian Bank will be utilizing the Letter of Credit advising and negotiating services of Wells Fargo Bank in order to improve efficiency in LC processing for Indian Bank's customers. Further, documents examination services will be utilized by Indian Bank's domestic branch network to improve efficiency and reduce operational risks.
On 8 November 2011, Indian Bank announced the opening of its Zonal Office (ZO) in Hubli, Karnataka. The opening of Hubli ZO will help the bank in providing services on a larger scale to the customers of the Northern and Coastal Karnataka.
On 2 February 2012, Indian Bank announced that the Board of Directors of the bank has approved a Scheme of Amalgamation of M/s. Indfund Management Limited, a wholly owned subsidiary of the bank with Indian Bank.
On 21 September 2012, Indian Bank entered into an MOU with National Small Industries Corporation Ltd. (NSIC). As per the MOU, NSIC will sponsor MSME proposals, after due scrutiny, at regular intervals to various branches of Indian Bank all over India. The arrangement is expected to provide more momentum to the growth of MSME advances of Indian Bank. For the quarter ended 30 June 2012, MSME advances of the bank stood at Rs 10776.30 crore, registering an annualized growth of 24.32%.
On 10 December 2012, Indian Bank announced that the Board of Directors of the bank has approved a proposal to merge/hive-off Ind Bank Housing Limited, a subsidiary of the bank with Indian Bank.
On receipt of capital funds from the Government of India, Indian Bank on 31 March 2015 allotted 1.54 crore equity shares at an issue price of Rs 181.31 per share aggregating to Rs 280 crore to Government of India on preferential basis.
On 31 March 2016, Indian Bank announced that it has successfully raised Rs 500 crore under Basel III compliant Additional Tier I Bonds on 30 March 2016 with a coupon of 11.15% p.a. from Rural Electrification Corporation Limited.
The Board of Directors of Indian Bank at its meeting held on 2 August 2016 accorded approval to the bank to raise Basel III compliant AT 1 and/or Tier 2 Bonds upto Rs 1000 crore in one or more tranches in the current or subsequent years based on the requirement.
On 4 August 2016, Indian Bank and M/s. Star Agriwarehousing and Collateral Management Ltd. entered into an agreement for extending produce marketing loan to farmers. As per the agreement, M/s.Staragri will provide storage and preservation services to farmers for storing their farm produce and also collateral management services to the bank. Indian Bank will provide credit facilities to farmers against warehouse receipts. Indian Bank has developed a special product for financing farmers upto a maximum limit of Rs 50 lakh under this scheme. This facility will help the farmers to avoid distress sales under adverse market conditions and also to tide over liquidity crunch they face immediately after the harvest. Further, Food and Agro processing units can also store their produce in the storage godowns and avail credit facility against the Warehousing receipts.
The Board of Directors of Indian Bank at its meeting held on 5 May 2017 accorded in-principle approval for issue of Long Term Bonds for financing of Infrastructure and Affordable Housing upto an amount of Rs 5000 crore. The Board will consider specific approval for the same at the time of actual floating of the Bonds.
On 1 July 2017, Indian Bank formally launched the GST services. Indian Bank has been authorized by Chief Controller of Accounts, Central Board of Excise and Customs, to collect Goods and Service Tax (GST) through all its branches. Indian Bank is also one among the 25 banks authorized by GST Council for collection of GST. The bank is integrated with GSTN for Tax collections through Net Banking and Over the Counter (OTC) through its branches.
On 11 July 2017, Indian Bank announced that credit rating agencies CRISIL and CARE have upgraded the rating of Indian Bank's Additional Tier 1 Bonds to AA+/Stable from AA/Stable) taking into consideration the bank's strong capitalization, better profitability and comfortable resource profile.
On 23 November 2017, Indian Bank announced that Securities and Exchange Board of India (SEBI) has pursuant to its letter dated 20 November 2017 permitted the bank to raise capital by way of issue of equity shares pursuant to a Qualified Institutional Placement subject to the receipt of the approval from Government of India (QIP) and achieve minimum public shareholding as required under Rule 19A of Securities Contracts Regulation (Rules), 1957 pursuant to the QIP.
The Board of Directors of Indian Bank at its meeting held on 19 December 2017 accorded approval to the bank to raise equity capital upto Rs 7000 crore (including Share Premium) in one or more tranches in the current or subsequent financial years based on the requirement through FPO/Private Placement/QIP/Rights Issue/Preferential Issue/Institutional Placement Program, subject to necessary approval from Reserve Bank of India, Government of India, shareholders of the Bank at EGM and other regulatory authorities.
On 1 February 2018, Indian Bank has launched a new loan product called 'IB MUDRA TVS KING' by entering into MoU with TVS company for financing for 3 wheeler. On 5 April 2018, Indian Bank launched 2 new Tech product called 'BHARAT QR' & 'PUBLIC FINANCIAL MANAGEMENT SYSTEM' for facilitating transactions of Merchants /Customers/General Public and Government organizations.
During the FY2019, the Bank's business crossed the milestone figure of Rs 4 trillion to reach Rs 4,29,972 Crore with a robust growth of 15.89%. Within which, Deposits grew by Rs 33,782 Crore (16.22%) to Rs 2,42,076 Crore and Advances by Rs 25,170 Crore (15.47%) to Rs 1,87,896 Crore.
The bank has allotted 2900 Tier 2 Bonds of Rs 10 lakhs each (Rupees Ten lakhs each) for Rs 290 crore at a coupon rate of 8.90% on Private Placement basis to 19 investors on 30.10.2018. Further the bank allotted 1100 Tier 2 Bonds of Rs 10 lakhs each (Rupees Ten lakhs each) for Rs 110 crore at a coupon rate of 8.85% on Private Placement basis to 18 investors on 06.11.2018. Also allotted 6000 Tier 2 Bonds of Rs 10 lakhs each (Rupees Ten lakhs each) for Rs 600 crore at a coupon rate of 8.53% on Private Placement basis to 9 investors on 22.01.2019.
A special resolution approving raising equity capital upto a Rs 7000 crore (including premium) in one or more tranches in the current or subsequent years based on the requirement through FPO / Private Placement / QIP/Rights Issue / Preferential Issue / Employees share Purchase Plan was passed through postal ballot on 27 March 2019.
As on 31 March 2019, the bank has 2 subsidiaries and 3 associate RRBs under its roof.
The bank conferred with the award'Best Performance - Financial Literacy - 2018-19' by NABARD. The bank also bagged 'Best Bank in SHG Bank linkage Programme' for 2017-18 from Govt of Tamil Nadu. Bank has bagged this award for consecutive years. The bank also won the 'Best Public Sector Bank' Banking Excellence Award 2018 - By State Forum of Banker's Clubs Kerala.
As on 31 March 2019, the bank had a distribution network of 2872 branches, 1043 BNAs and 2849 ATMs across the country.
The year 2019-20 was eventful for Indian Bank as the Bank was identified as theAnchor Bank in consolidation of PSBs. The Government on 30 August 2019 announced the Amalgamation of Allahabad Bank- a bank with 155 years legacy into Indian Bank. The amalgamation of Allahabad Bank into Indian Bank has placed the Bank as the 7 largest Bank with more th than Rs 8.50 lakh Crore business, 43,000 strong workforce and over 6000 branch network with a strong CASA base.
As per Govt. of India Gazette notification dated 04.03.2020 Allahabad Bank has been amalgamated into Indian Bank wef 01.04.2020. On 05.03.2020 the Board of Directors of the Bank and the Board of Directors of Allahabad Bank at their respective meetings, approved amalgamation. The respective Banks have also approved the swap ratio of 115 shares of face value Rs. 10/- each of Indian Bank for every 1000 equity shares of Face Value of Rs. 10/- each of Allahabad Bank.
During quarter ended 31 December 2020, the Bank has raised Additional Tier 1 capital in three tranches aggregating to Rs 2000 crore through private placement of Basel III compliant AT 1 Perpetual Bonds.
Total domestic branch network of the Bank in India increased to 2887 as on 31 March 2020. Besides, the Bank has 3 overseas branches, taking the total branch network to 2890. Total number of ATMs & BNAs increased to 4149, which includes 695 offsite ATMs / BNAs and 6 mobile ATMs.
In FY 2021, Bank has pan-India network with 20593 including 6004 Brick & Mortar branches, 5428 ATMs/BNAs, 9161 Business Correspondents and 3 overseas offices. Its business crossed Rs. 9.2 lakh Crore to reach Rs. 928388 Crore of the total business, Deposits were at Rs. 538071 Crore and Advances at Rs. 390317 crore. Total domestic branch network of the Bank increased to 6,004 as on March 31, 2021. Besides, the Bank has 3 overseas branches, taking the total branch network to 6,007. Total number of ATMs & BNAs increased to 5,428 as on March 31, 2021 which includes 686 offsite ATMs/BNAs and 6 mobileATMs. In FY 20, Bank commenced its operation as an amalgamated entity from 1st April 2020 and completed the integration of CBS systems of both banks on 14th February, 2021.
Bank has a network of 5,732 domestic branches as on March 31, 2022 and 3 overseas branches, taking the total branch network to 5,735. Total number of Bank's ATMs and BNAs stood at 4,925 which include 624 offsite ATMs /BNAs and 3 mobile ATMs. During year 2022, Bank raised Equity capital of Rs. 1650 Crore through Qualified Institutional Placement (QIP). It implemented full-fledged Data Analytics solution for generation of business leads, cross selling of Retail & MSME loan products etc. The Bank signed MoU with India Bull HFL, India Bulls CCL, IIFL Housing Finance Limited, AVANSE Financial Services, Edelweiss HFL, ECL Finance Limited, IIFL Finance, SK Fin-Corp Limited and sanctioned an aggregate amount of 500 Crore. Products like Ind Kavach, Housing Loan Premium, Used Cars & Two Wheelers Loan were launched in FY 22.
Bank has a network of 5,787 domestic branches as on March 31, 2023 and 3 overseas branches and 1 IFSC Banking unit (GIFT City), taking the total branch network to 5,791. Total number of Bank's ATMs and BNAs stood at 4,929 which include 591 offsite ATMs /BNAs and 2 mobile ATMs. The Bank launched 4 new products: MSME Loan Against Property, Pharma Strengthening, Sakhi and Commercial Vehicle Financing in FY 2023.
Bank has a network of 5,851 domestic branches as on March 31, 2024 and 3 overseas branches and 1 IFSC Banking unit (GIFT City). Total number of Bank's ATMs and BNAs stood at 4,937 which include 601 offsite ATMs /BNAs and 2 mobile ATMs.
Bank has a network of 5,905 domestic branches as on March 31, 2025 and 3 overseas branches and 1 IFSC Banking unit (GIFT City). Total number of Bank's ATMs and BNAs stood at 5268 which include 601 offsite ATMs /BNAs and 2 mobile ATMs. The Bank has incorporated Indbank Global Support Services Limited as a Wholly Owned Subsidiary in FY 2025.
FAQs on Indian Bank
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2. Does Indian Bank pay dividends? ›
Yes, Indian Bank has a consistent history of rewarding its shareholders through dividend payouts. Dividend frequency and amounts vary depending on the company’s financial performance and board approvals. Investors holding Indian Bank shares on the record date announced by the company are eligible to receive dividends directly into their bank accounts linked with their Demat holdings.
3. What is the current share price of Indian Bank ? ›
As of
06-Feb-2026 , 16:09:18 the share price for Indian Bank. is ₹ 871.2 on the NSE (Note: Prices are dynamic and update frequently during market hours).
4. What is the 52-week high and low of Indian Bank ? ›
The 52-week high and low of Indian Bank share price is ₹ 478 - ₹ 923 as of
06-Feb-2026 , 16:09:18 .
