PUBLIC SECTOR BANKS IN INDIA – INDIAN BANK
PUBLIC SECTOR BANKS OF INDIA – INDIAN BANK
Indian Bank is an Indian Public Sector Bank. It is a major Indian Commercial Bank headquartered in Chennai city, Madras state in India. It has 22000 employees, and 1657 branches and is one of the big public sector banks of India. It has overseas branches in Colombo, Sri Lanka, Singapore, and 229 correspondent banks in all over 69 countries.
The Government of India nationalized the bank, along with 13 other major commercial banks, on 19 July 1969. Established on 15th August 1907 as part of the Swadeshi movement, Serving the nation with a team of over 19300 dedicated staff Total Business crossed Rs.181530 Crores as on 31.03.2011. A front runner in specialised banking, 97 Forex Authorised branches inclusive of 1 Specialised Overseas Branch at Chennai exclusively for handling forex transactions arising out of Export, Import, Remittances and Non Resident Indian business. 62 Special SME Branches extending finance exclusively to SSI units. A premier bank owned by the Government of India.
On 1st April 2010, Shri T.M. Bhasin has assumed charge as Chairman and Managing Director of Indian Bank. Prior to assuming charge as Chairman and Managing Director, He was Executive Director of United Bank of India since 7th November 2007. A special window for Micro finance viz., Micro Credit Kendras are functioning in 44 RuralSemi Urban branches. Harnessing ICT (Information and Communication Technology) for Rural Development and Inclusive Banking Provision of technical assistance and project reports in Agriculture to entrepreneurs through Agricultural Consultancy and Technical Services(ACTS).