Indian Bank eyes recovery of Rs 7,000 cr this financial year: MD & CEO

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Indian Bank eyes recovery of Rs 7,000 cr this financial year: MD & CEO - Business Standard

Quick Summary:

The bank has also received the approval from the Reserve Bank of India and shareholders to raise Rs 5,000 crore which would be decided at an opportune time, the bank's Managing Director and CEO Shanti Lal Jain said here.

The city-headquartered Indian Bank has reported a 41 per cent jump in its net profit to Rs 2,403 crore for the April-June 2024 quarter due to a decline in bad loans.

Public sector Indian Bank has targeted to recover about Rs 7,000 crore during the current financial year, a top official said on Tuesday.