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Indian Bank raises BPLR by 75 bps to 14pc

Started by sajiv, Aug 12, 2008, 07:09 PM

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Indian Bank on Tuesday Aug 12 said it has raised its Benchmark Prime Lending Rate (BPLR) by 0.75 per cent to 14 per cent from 13.25 per cent with effect from Monday, Aug 11.

The Bank, however, has not revised home loan floating rates for sanctioned limits up to Rs 30 lakh for both existing and fresh accounts, it said in a statement. Also, it has not hiked interest rates for both existing and fresh accounts of educational loans.



Indian Bank branch opened

To cater to the requirements of small and medium enterprises, Indian Bank opened a branch in Ramapuram, a western suburb of Chennai on Tuesday.

Madras High Court judge S. Tamilvanan inaugurated the bank located on Valluvar Salai in the presence of the bank's chairman and managing director M. S. Sundara Rajan.
Tremendous potential

Mr. Sundara Rajan said the Ramapuram branch was Indian Bank's 689th in the State and 86th in the Kancheepuram Circle, of which 30 were in the peripheral areas of Chennai.The location of the branch had a tremendous potential to tap business of the SMEs that dotted the area and it was planned to transact a business of Rs.100 crore a year.

ATM facility
[blink]ATM facility would be installed in a fortnight.[/blink]

Indian Bank planned to open another 100 branches throughout the country of which 50 per cent of them would be in areas uncovered by the banking sector.



Yes Sajiv, you are right.

Indian Bank have cover only small areas when compared to ICICI and other banks.

Hope once Indian Bank got another 100 branches with ATM. Sure they can have a Huge Transaction in all areas.

Thanks for this useful post Sajiv.


Thanks for this reply and it will be ueful to the public



Hi good post sajiv.... :agree

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I agree with you that indian banks cover small areas, so many people prefer other international banks, so if indian banks want to increase their customer then they should increase their branches and ATM centers.

pradeep prem

i agree with this

i also got loan from this bank

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