Indian Bank
Indian Bank, established in 1907, is a major Indian Commercial Bank headquartered in Chennai (Madras), India. It has 22,000 employees, 1,657 branches and is one of the big public sector banks of India. It has overseas branches in Singapore, Sri-Lanka & 229 correspondent banks in 69 countries. The Government of India nationalized the bank, along with 13 other major commercial banks, on 19 July 1969.
Brief History
Indian Bank was established on 15 August 1907.
In 1932 Indian Bank opened a branch in Colombo.
In the year 1940 IB opened a branch in Rangoon (Yangon),but IB closed the Rangoon branch and opened branches in Singapore.
In 1942 the bank closed the Colombo branch and reopened its branch in 1948.
In 1960 IB acquired Mannargudi Bank (est. 1932) and Salem Bank (est. 1925).
The Government of India nationalized 14 top banks, including Indian Bank in 1969.
In 1973 Indian Overseas Bank, Indian Bank and United Commercial Bank established United Asian Bank Berhad in which IOB held 16.67% of the paid up capital, as a result of a new banking law in Malaysia that prohibited foreign government banks from operating in the country.
In year 1980 IB, Bank of Baroda, and Union Bank of India established IUB International Finance, a licensed deposit taker in Hong Kong. Each of the three banks took an equal share in the joint venture.
IB acquired Bank of Tanjore (Bank of Thanjavur) in Tamil Nadu in 1987.
In 2007 IB celebrated its centenary year.
Products and services of Indian Bank
Indian Bank offers a comprehensive range of products and services to its individual
and institutional clients they are as follows:
# Deposits
1. IB Smart Kid
2. SB Platinum
3. SB Power
4. Savings Bank
5. SB Vikas Khatha
6. Current Account
7. Premium Current Account
8. Fixed Deposit
9. Re-investment Plan
10. Facility Deposit
11. Deposit scheme for Senior Citizens
12. Recurring Deposit
13. Variable Recurring Deposit
14. IB Swarna Nidhi RD/IB Swarna Nidhi VRD
15. Ind Tax Saver
16. Capital Gains
17. NRE SB and NRE Term Deposits
18. FCNR (B) Accounts
19. Resident Foreign Currency account for Returning Indians
20. Non-Resident Ordinary Account
21. Non-Resident External (Rupee) Account
22. Foreign Currency Non-Resident Account
23. SB Silver
24. SB Gold
25. IB Savings Certificate
26. IB Tax Savings Certificate
# Loan
1. Home Loan
2. NRI Home Loan
3. Plot Loan
4. Home Improve
5. IB Vehicle Loan
6. Ind Mortgage
7. IB Rent Encash
8. Ind Reverse Mortgage
9. Loan / OD against Deposits
10. Loan / OD against NSC / KVP / Relief bonds of RBI / LIC policies
11. IB Pension Loan
12. Educational Loan
13. IB Tradewell
14. Jewel Loan Scheme (Non-Priority)
15. Doctor Plus
16. IB Professional Special
17. IND SME Secure
18. IND STAR Rice Mill
19. IND Art tools
20. Financing to Entrepreneurs identified by ESP of BYST
21. Kisan Credit Card
22. Golden Harvest Scheme
23. Sugar Premium Scheme
24. Loans for maintenance of Tractors under tie-up with Sugar Mills
25. SHG Bank Linkage Programme - Direct Linkage to SHGs
26. SHG - Vidhya Shoba
27. Agricultural Godowns / Cold Storage
28. Agri Clinic and Agri Business Centres
29. IB Balavidhya Scheme
30. External Commercial Borrowing
31. NRI Plot Loan
32. Agricultural Jewel Loan Scheme
33. Agricultural Produce Marketing Loan
34. Financing Agriculturists for Purchase of Tractors
35. Purchase of second hand (pre-used) Tractors by Agriculturists
36. Joint liability group (JLG)
37. Gramin Mahila Sowbhagya Scheme
38. DRI Scheme – Revised Norms
39. IB Home Loan Combo
40. IB Clean Loan (to Salaried Class)
41. IB Bhavishya Prakash
# Services
1. Ind Netbanking
2. Ind Mobilebanking
3. Ind Phonebanking
4. e Payment of Indirect Taxes
5. MCA Payment
6. IndJet Remit (RTGS)
7. NEFT
8. CMS Plus
9. Multicity Cheque Facility
10. IB Swarna Mudra
11. Credit Cards
12. ATM/Debit Cards
13. DP Services
14. IB Jeevan Kalyan
15. IB Varishtha
16. IB Chhatra
17. IB Arogyaraksha
18. e Payment of Direct Taxes
19. IB Jeevan Vidhya
20. Money Gram
21. Janashree Bhima Yojan (Launched in association with LIC)
22. Universal Health Care (launched in Association with UIIC Ltd)
23. IB Grihajeevan - Group Insurance Scheme for Mortgage Borrowers
24. IB Home Suraksha - Group Insurance Scheme for Mortgage Borrowers
25. Xpress Money – Inward Remittance – Money Transfer Service Scheme
Indian Bank, established in 1907, is a major Indian Commercial Bank headquartered in Chennai (Madras), India. It has 22,000 employees, 1,657 branches and is one of the big public sector banks of India. It has overseas branches in Singapore, Sri-Lanka & 229 correspondent banks in 69 countries. The Government of India nationalized the bank, along with 13 other major commercial banks, on 19 July 1969.
Brief History
Indian Bank was established on 15 August 1907.
In 1932 Indian Bank opened a branch in Colombo.
In the year 1940 IB opened a branch in Rangoon (Yangon),but IB closed the Rangoon branch and opened branches in Singapore.
In 1942 the bank closed the Colombo branch and reopened its branch in 1948.
In 1960 IB acquired Mannargudi Bank (est. 1932) and Salem Bank (est. 1925).
The Government of India nationalized 14 top banks, including Indian Bank in 1969.
In 1973 Indian Overseas Bank, Indian Bank and United Commercial Bank established United Asian Bank Berhad in which IOB held 16.67% of the paid up capital, as a result of a new banking law in Malaysia that prohibited foreign government banks from operating in the country.
In year 1980 IB, Bank of Baroda, and Union Bank of India established IUB International Finance, a licensed deposit taker in Hong Kong. Each of the three banks took an equal share in the joint venture.
IB acquired Bank of Tanjore (Bank of Thanjavur) in Tamil Nadu in 1987.
In 2007 IB celebrated its centenary year.
Products and services of Indian Bank
Indian Bank offers a comprehensive range of products and services to its individual
and institutional clients they are as follows:
# Deposits
1. IB Smart Kid
2. SB Platinum
3. SB Power
4. Savings Bank
5. SB Vikas Khatha
6. Current Account
7. Premium Current Account
8. Fixed Deposit
9. Re-investment Plan
10. Facility Deposit
11. Deposit scheme for Senior Citizens
12. Recurring Deposit
13. Variable Recurring Deposit
14. IB Swarna Nidhi RD/IB Swarna Nidhi VRD
15. Ind Tax Saver
16. Capital Gains
17. NRE SB and NRE Term Deposits
18. FCNR (B) Accounts
19. Resident Foreign Currency account for Returning Indians
20. Non-Resident Ordinary Account
21. Non-Resident External (Rupee) Account
22. Foreign Currency Non-Resident Account
23. SB Silver
24. SB Gold
25. IB Savings Certificate
26. IB Tax Savings Certificate
# Loan
1. Home Loan
2. NRI Home Loan
3. Plot Loan
4. Home Improve
5. IB Vehicle Loan
6. Ind Mortgage
7. IB Rent Encash
8. Ind Reverse Mortgage
9. Loan / OD against Deposits
10. Loan / OD against NSC / KVP / Relief bonds of RBI / LIC policies
11. IB Pension Loan
12. Educational Loan
13. IB Tradewell
14. Jewel Loan Scheme (Non-Priority)
15. Doctor Plus
16. IB Professional Special
17. IND SME Secure
18. IND STAR Rice Mill
19. IND Art tools
20. Financing to Entrepreneurs identified by ESP of BYST
21. Kisan Credit Card
22. Golden Harvest Scheme
23. Sugar Premium Scheme
24. Loans for maintenance of Tractors under tie-up with Sugar Mills
25. SHG Bank Linkage Programme - Direct Linkage to SHGs
26. SHG - Vidhya Shoba
27. Agricultural Godowns / Cold Storage
28. Agri Clinic and Agri Business Centres
29. IB Balavidhya Scheme
30. External Commercial Borrowing
31. NRI Plot Loan
32. Agricultural Jewel Loan Scheme
33. Agricultural Produce Marketing Loan
34. Financing Agriculturists for Purchase of Tractors
35. Purchase of second hand (pre-used) Tractors by Agriculturists
36. Joint liability group (JLG)
37. Gramin Mahila Sowbhagya Scheme
38. DRI Scheme – Revised Norms
39. IB Home Loan Combo
40. IB Clean Loan (to Salaried Class)
41. IB Bhavishya Prakash
# Services
1. Ind Netbanking
2. Ind Mobilebanking
3. Ind Phonebanking
4. e Payment of Indirect Taxes
5. MCA Payment
6. IndJet Remit (RTGS)
7. NEFT
8. CMS Plus
9. Multicity Cheque Facility
10. IB Swarna Mudra
11. Credit Cards
12. ATM/Debit Cards
13. DP Services
14. IB Jeevan Kalyan
15. IB Varishtha
16. IB Chhatra
17. IB Arogyaraksha
18. e Payment of Direct Taxes
19. IB Jeevan Vidhya
20. Money Gram
21. Janashree Bhima Yojan (Launched in association with LIC)
22. Universal Health Care (launched in Association with UIIC Ltd)
23. IB Grihajeevan - Group Insurance Scheme for Mortgage Borrowers
24. IB Home Suraksha - Group Insurance Scheme for Mortgage Borrowers
25. Xpress Money – Inward Remittance – Money Transfer Service Scheme
For more information about Indian Bank please see there website
http://www.idbi.com (Official website)
http://www.idbi.com (Official website)
