Financial Daily from THE HINDU group of publications
Saturday, Jul 31, 2004

Cross Currency

Group Sites

Money & Banking - Public Sector Banks
Industry & Economy - Education

Indian Bank loans to strengthen school buildings

Our Correspondent

Madurai , July 30

THE Indian Bank has come forward to assist schools in the State in their endeavour to strengthen the buildings.

The Chairman and Managing Director, Mr M.B.N. Rao, told presspersons at Tiruchi said that the bank is willing to extend loans ranging between Rs 2 lakh and Rs 10 lakh, with one-year moratorium and seven-year repayment schedule.

He further said that the bank would be launching its medical insurance package by August. A memorandum of understanding is to be entered into shortly with United India Insurance as negotiations have been completed for the purpose.

A `Core Banking Package' for personalised banking by the customers is also to be launched to facilitate Internet, Mobile and Anyt6ime Anywhere Banking, he added.

Mr Rao hoped that the bank's net non-performing assets, which stood at 2.71 per cent in 2003-04, would be wiped out by 2007.

The capital adequacy ratio stood at 14 per cent as against the RBI norm of 8.5 per cent.

More Stories on : Public Sector Banks | Education | Real Estate & Construction | Tamil Nadu

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Timely Nabard credit line for farmers

Foray into global corporate leasing — Srei opens arm in Germany
NPAs: Why the undue anxiety?
Rupee steady; bonds recover
Software for treasury ops
Special discount: Insurance brokers seek compensation
IOB net rises 26 pc in Q1
Rs 50 lakh missing from RBI currency consignment
Birla SunLife to manage CSB's retirement fund
TMB to open two ATMs at Chennai
Indian Bank loans to strengthen school buildings
State Bank of Indore to distribute Franklin Templeton schemes
SBI pays Rs 345-cr dividend to Govt
No decision yet on IFCI merger
`Decision on GTB taken in public interest'
KSCB gets Rs 527-cr credit from Nabard in three years

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line