Amidst the present-day challenging duration for the banking sector in India, there may be a Public Sector Bank that has outshone its peers. It is the Chennai-headquartered Indian Bank. Indian Bank nowadays, with over 9400 touchpoints throughout the country, has crossed the milestone commercial enterprise level of Rs 4.00 lakh crore. The Bank has featured among the Most trusted brands in the Public Sector Bank category and has been acknowledged as India’s Best Bank (source: Economic Times, Magazine).
A 111-year-old vintage Bank, Indian Bank, has been continuously proving that it can adapt to the changing environments at distinguishing points in time. It has many ‘firsts’ to its credit regarding merging banking and generation for higher, more secure, and more convenient solutions. The Bank becomes the primary to migrate from Total Bank Computerization (TBC) to a hundred Core Banking Solutions (CBS). Installing the primary ATM through any public zone bank in 1989,
putting in the first force-in ATM of the USA at some stage in 1990, introducing the first-ever voice-guided biometric ATM in 2007, to name a few. The Bank launched an enterprise-first mobile app to block and manage limits of debit cards and credit cards, the ‘IB Smart Remote.’ Indian Bank has been continuously reinventing with a futuristic vision to meet the great and dynamic needs in this era-pushed era. While doing so, the bank pays serious attention to the protection and safety of clients’ transactions.
Like any other monetary organization, Indian Bank too needed to stave off many challenges in its long history, the maximum ambitious one being during the late 1990s and early 2000s. The sheer commitment of personnel and unflinching clients’ loyalty are the Bank’s middle strengths, and the Bank should script a successful, historical turnaround of its fortunes in particular because of those elements. Carrying the tag ‘Your Own Bank,’ the Bank is looked upon with delight in India.
Indian Bank has by no means looked back ever when you consider its historical revival, continuously posting earnings for over one and 1/2 a long years. Harnessing its robust technological backbone and widespread revel in, the financial institution has undertaken a well-planned and well-executed credit disbursal route, balancing growth and exceptional service. The Bank’s pre-eminent function is indicated with the aid of the fact that once the infusion of Capital via the Government of India during its turnaround, Indian Bank is the only exception among nationalized Banks that has in no way sought recapitalization support from the Government.
Indian Bank has been a forerunner in serving the unbanked and under-banked centers via tech-based initiatives, thereby fulfilling its role as a Common Man’s Bank. The Bank’s pioneering efforts in helping the SHG movement and promoting Financial Inclusion have earned it a coveted reputation continuously for 18 years from the Government of Tamil Nadu, among others. It will not be a real understatement if one says that the Indian Bank has been a life-changer for many socially and economically deprived and susceptible sections of society.
Having been born out of the human beings movement, Indian Bank is a responsible corporate citizen. The Bank has primarily based its CSR coverage on five pillars, viz., inclusive growth, deepening financial literacy, ensuring a worthwhile life environment via green projects, empowering of ladies to bring in gender equality, and fostering financial independence to the downtrodden and economically weaker sections, women, and the poor through vocational ability development. On 9 March 2019, the Bank celebrated “International Women’s Day” and felicitated twelve girl achievers. On that day, the Bank additionally launched “IB- Surabhi,” a Savings financial institution Account solely for ladies. The product gives a bouquet of facilities like the concessional hire for lockers and hobbies on loans, insurance, buy protection, customized cards, and free services.
As a step closer to the agricultural people, various developmental activities such as literacy and counseling packages on credit score, deposit merchandise, social protection schemes, and digitization have been undertaken through facilities set up for the said reason under the “Indian Bank Trust for Rural Development” (IBTRD). To create opportunities for marketers to pursue diverse self-employment alternatives, the Rural Self-Employment Training Institutes of the Bank (INDSETIs) provided essential training for skill-building. Both these projects of the Bank have acquired due recognition and praise from NABARD & Ministry of Rural Development.
Creating a healthy society has been essential on the agenda. Several initiatives for the poor and the marginalized were undertaken via diverse health care and blood donation camps. Envisioning comfortable and hygienic surroundings for the next generation, the Bank is a lively recommend of “Swachh Bharat Mission.” Numerous activities in this regard have been completed across the United States of America, like the production of bathrooms in girls’ schools, the donation of sanitary napkin merchandising systems and incinerators in girls’ schools, cleanlines drives at numerous locations, and many others.
With the presence of nicely-matured components, Indian Bank has re-positioned itself to cater to the evolving desires of its purchasers with the primary cognizance on attuning itself to offer purchaser-centric offerings across the Banking panorama and attaining profit-enhancing, improved enterprise growth via improved operational efficiency. Going ahead, the goal might be to continuously pursue the vision to be a competitive and robust financial institution with a dedication to excellence and recognition on including a cost to customers, shareholders, and personnel, with adherence to high-quality practices and core institutional values shared at some stage in the Organization.
