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111 business outlets, postal stamp to mark 111th anniversary of Indian Bank

Indian Bank unveiled 111 business outlets that include 11 branches and 97 ATMs all over India as part of the celebration of 111 years of its existence at the Kalaivanar Arangam hall on Saturday.

Published: 20th August 2017 01:12 AM  |   Last Updated: 20th August 2017 07:25 AM   |  A+A-

By Express News Service

CHENNAI: Indian Bank unveiled 111 business outlets that include 11 branches and 97 ATMs all over India as part of the celebration of 111 years of its existence at the Kalaivanar Arangam hall on Saturday. To commemorate the occasion, Indian Bank in association with India Post released a postal stamp.  The event was attended by customers from across the nation. During the event, 11 distinguished customers of the bank from various walks of life were felicitated.

Indian Bank was founded on August 15, 1907 as part of the Swadeshi movement by V Krishnaswamy Iyer. According to the management personnel of the bank, who were present at the occasion, the bank stands by the ideals that it was built on - to serve the nation and its people.

“People talk of startups now but we started our journey way back in 1907 when there were mutinies against the British and disturbances worldwide,” said Kishor Karat, MD and CEO of Indian Bank. “Through the years, we have gone through many ups and downs and while the banking sector is going through challenging times, we have managed to remain as one of the best banks in the country.”  Karat went on to explain how the bank is among the banks that have the best capital adequacy and have NPA levels that are “well within control.”

“In the upcoming quarters, you will see NPA levels drop further,” he said. “The government is coming out with a number of reforms which require a strong banking system. We have prepared an aggressive five-year plan to make our bank transition from a good to a great bank.”

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