Indian Bank

July 2 (Reuters) - Indian Bank INBA.NS:

• INDIAN BANK - MCLR REMAINS UNCHANGED ACROSS TENORS

Source text: ID:nNSE2ZSG5N

Further company coverage: INBA.NS

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July 1 (Reuters) - Indian Bank INBA.NS:

• INDIAN BANK - GROSS ADVANCES AS OF JUNE END UP 13.9% Y/Y

Source text: [ID:]

Further company coverage: INBA.NS

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By Nikunj Ohri

NEW DELHI, May 18 (Reuters) - India's finance ministry directed state-run banks, insurers and financial institutions on Monday to implement cost-cutting measures, including sharp curbs on travel and a phased transition to electric vehicles, according to an order reviewed by Reuters.

The order, part of a broader austerity push, will cover institutions like the State Bank of India SBI.NS, Bank of Baroda BOB.NS and Life Insurance Corp of India LIFI.NS and million of their employees across the country.

Under the new measures, all meetings, reviews and consultations must be conducted via video conferencing unless physical presence is deemed essential, the order issued by the Department of Financial Services said.

Foreign travel by top executives of the organisations - including chairpersons, managing directors and chief executive officers - should be kept below prescribed limits, with overseas engagements to be attended virtually wherever possible, it said.

Separately, the government has asked the organisations to accelerate adoption of electric vehicles.

"All organisations may aim at replacing the petrol and diesel vehicles hired by them in their head offices and branch offices by electric cars as far as possible," the order said.

The move follows a call last week by Prime Minister Narendra Modi urging officials to follow austerity and exercise restraint in spending, as the government braces for the economic fallout from rising global tensions.

Prolonged Middle East conflict risks slowing growth, stoking inflation and straining the balance of payments, with the Indian rupee already at record lows as Asia's worst performer this year.

Several Indian states have directed employees to work from home two days a week as part of cost-cutting efforts.

(Reporting by Nikunj Ohri; Editing by Raju Gopalakrishnan)

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By Bharath Rajeswaran

May 13 (Reuters) - Global index provider MSCI added four Indian stocks and removed four from its widely tracked Global Standard Index in its latest periodic review, announced earlier on Wednesday, with the changes set to take effect on May 29, 2026.

Federal Bank FED.NS, Multi Commodity Exchange of India MCEI.NS, National Aluminium NALU.NS and Indian Bank INBA.NS will enter the index, while Hyundai Motor India HYUN.NS, Jubilant Foodworks JUBI.NS, Kalyan Jewellers KALN.NS and Rail Vikas Nigam RAIV.NS will be excluded.

India's weight in the MSCI Global Standard Index remains broadly steady at 12.3%, compared with 12.4% after the February review, while the number of Indian constituents is unchanged at 165.

Adani Energy Solutions ADAI.NS, initially seen as a provisional addition, has been left out after being placed under the NSE's additional surveillance mechanism framework, a watchlist for unusual trading activity that makes the stock ineligible for inclusion.

MSCI indexes are key global benchmarks tracked by large passive funds, making index changes a significant driver of stock-specific flows.

Inclusions typically attract fresh passive capital, while deletions often trigger outflows as funds rebalance portfolios.

Nuvama Quantitative and Alternative Research expects passive inflows of $491 million into Federal Bank, $373 million into MCX, $308 million into National Aluminium and $209 million into Indian Bank.

On the other side, Hyundai Motor India, Jubilant Foodworks, Kalyan Jewellers and Rail Vikas Nigam are projected to see outflows of $281 million, $161 million, $137 million and $136 million, respectively.

Adani Power ADAN.NS, BPCL BPCL.NS, FSN E-Commerce FSNE.NS, Trent TREN.NS and Oracle Financial Services ORCL.NS are also expected to draw inflows due to higher weightages, while weights for HUL HLL.NS, Bajaj Finance BJFN.NS, TCS TCS.NS, ONGC ONGC.NS and Ultratech Cement ULTC.NS, among others, were trimmed.

While the Global Standard Index saw balanced additions and deletions, MSCI's small-cap index had heavier exclusions, reducing India's small-cap count to 459 from 474.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Ronojoy Mazumdar)

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** Indian banks rise as government approves an emergency credit guarantee programme worth $1.9 billion to support businesses facing short-term liquidity stress due to the Iran war

** Banks .NSEBANK and private banks .NIFPVTBNK climb ~1% each, state-owned lenders .NIFTYPSU up 1.3%, powering gains on benchmark Nifty 50 .NSEI, which is up 0.4%

** The scheme will provide additional credit support to eligible borrowers, with the government offering 100% guarantee coverage for small and medium enterprises and 90% coverage for other firms and the airline sector

** Citi says MSME-focussed lenders such as Axis Bank AXBK.NS, RBL Bank RATB.NS and state-banks will be the key beneficiaries; scheme is net positive for credit sentiment, asset quality and financial stability

** "The scheme is a net positive for banks, a modest loan growth tailwind and a more meaningful near-term asset quality buffer," Nomura says

** YTD, NSEBANK and NIFPVTBNK down 7.5% and 8.5%, respectively, NIFTYPSU up 0.3%; Nifty 50 down 7.6%

(Reporting by Kashish Tandon in Bengaluru)

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April 1 (Reuters) - Indian Bank INBA.NS:

• GROSS ADVANCES UP 13.6% Y/Y AS OF MARCH-END

• TOTAL DEPOSITS AS OF MARCH 31, 2026, UP 12.6% YOY

Source text: ID:nBSE6tV896

Further company coverage: INBA.NS

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MUMBAI, March 23 (Reuters) - Indian Bank INBA.NS has accepted bids worth 50 billion rupees ($532.3 million) for sale of infrastructure bonds maturing in 10 years, three bankers said on Monday.

The state-run lender will pay an annual coupon of 7.15% on this issue and had invited coupon and commitment bids earlier in the day, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on March 23:

*Size includes base plus greenshoe for some issues

($1 = 93.9300 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)

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MUMBAI, March 20 (Reuters) - Indian Bank INBA.NS plans to raise up to 50 billion rupees ($533.44 million), including a greenshoe option of 30 billion rupees, through the sale of infrastructure bonds maturing in 10 years, three bankers said on Friday.

It has invited coupon and commitment bids for the issue on Monday, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on March 20:

*Size includes base plus greenshoe for some issues

($1 = 93.7320 Indian rupees)

(Reporting by Khushi Malhotra and Dharamraj Dhutia)

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By Dharamraj Dhutia and Khushi Malhotra

MUMBAI, March 18 (Reuters) - Indian Bank INBA.NS and National Bank for Financing Infrastructure and Development plan to raise a combined 80 billion rupees ($864.10 million) from the corporate bond market by March, two bankers with knowledge of the matter said on Wednesday.

Indian Bank is set to raise 50 billion rupees through seven- or 10-year infrastructure bonds, while NaBFID plans to raise about 30 billion rupees through 10-year notes, the bankers said.

"Both the entities are targeting to complete the fundraising as early as possible in the next week, and have already tied up with some investors," one of the bankers said.

The bankers requested anonymity as they are not authorised to speak to the media. Indian Bank and NaBFID did not reply to a Reuters email seeking comment.

This would be the first time Indian Bank will tap the bond market in nearly 18 months. In October 2024, the lender had raised 50 billion rupees through 10-year infrastructure bonds at 7.12% coupon.

The issuance follows a pickup in infrastructure bond fundraising, with Union Bank of India set to raise 75 billion rupees through 10-year bonds on Friday.

Earlier in the month, Bank of Baroda raised 100 billion rupees through seven-year bonds at 7.10%, and the issue witnessed aggressive bids from large state-run provident fund house.

"Strong domestic liquidity and institutional demand mean that high-quality banks and PSU issuers still find access to funding, albeit at slightly higher coupons," Harit Oberoi, head of fixed income at Motilal Oswal Wealth Management.

Meanwhile, NaBFID had raised around 25 billion rupees through 10-year bonds at 7.45% coupon, followed by withdrawal of its first ever three-year bond issue, after bids came in higher than expected.

($1 = 92.5820 Indian rupees)

(Reporting by Dharamraj Lalit Dhutia; Editing by Nivedita Bhattacharjee)

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Feb 24 (Reuters) - A2z Infra Engineering Ltd A2ZI.NS:

• SIGNS ONE-TIME SETTLEMENT WITH INDIAN BANK

• DEBT SETTLEMENT OF 1.42 BILLION RUPEES FOR CONSIDERATION OF 500 MILLION RUPEES

Source text: ID:nBSE2FdWlR

Further company coverage: A2ZI.NS

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Corrects dateline to February 16

By Sudarshan Varadhan, Gopika Gopakumar and Jatindra Dash

SINGAPORE/MUMBAI/BHUBANESWAR, India, Feb 16 (Reuters) - Indian Prime Minister Narendra Modi's push to accelerate the rollout of rooftop solar power is falling short of targets despite heavy subsidies due to loan delays and limited support from state utilities, vendors and analysts say.

The shortfalls represent the latest challenge to India's efforts to nearly double clean energy capacity to 500 gigawatts by 2030, and come as the government plans to suspend clean energy tendering targets amid a mounting backlog of awarded projects yet to be built.

Challenges to plans to increase solar uptake may mean India maintains its reliance on coal-fired power.

India's Ministry for New and Renewable Energy created its subsidy programme for residential solar panel installations in February 2024, covering up to 40% of the costs.

But residential installations at 2.36 million are well below the ministry's target of 4 million by March, according to data from the programme's website.

"Banks' reluctance to lend and states' hesitance to promote the schemes could derail India's efforts to transition away from coal," said Shreya Jai, the lead energy analyst at research firm Climate Trends in New Delhi.

Roughly three in five rooftop solar applications filed on the scheme's website are yet to be approved while about 7% have been rejected, according to government data on the programme, known as the PM Surya Ghar.

In a statement to Reuters about the pending applications, the renewable energy ministry pointed to accelerating installations which have benefited over 3 million households, and said the scheme enables state-owned utilities to reduce subsidy payouts to keep residential power bills in check.

"The loan rejection rate varies across states," the statement said.

Under PM Surya Ghar, consumers apply and select a vendor who handles paperwork and arranges bank financing for solar panels. After loan approval and installation, the vendor submits proof, after which the government subsidy is credited to the bank.

BANK DELAYS

However, banks have been rejecting or delaying loans for numerous reasons including lack of documentation, which they say is necessary to protect public funds.

"We are working with the government to push for some standard documentation, because it is necessary to avoid bad loans. Currently if loans go bad, banks can take away these panels but what will we do with these panels?" said a senior official at a major government-owned bank.

Chamrulal Mishra, a solar vendor in the eastern Indian state of Odisha, said applications are often rejected because the customer has missed electricity payments or because land records are still in the name of deceased relatives.

Residents there dispute the claims that they have missed payments, which they attribute to administrative errors after a change in utility ownership decades prior.

A spokesperson for India's Department of Financial Services, which regulates the country's banks, said they have responded to consumer feedback to allow co-applicants for loans to clear up title claims and the simplification of documentation requirements.

The Renewable Energy Association of Rajasthan said some banks are making collateral demands for loans under 200,000 Indian rupees ($2,208.87), despite scheme guidelines not requiring them to, which is constraining solar power additions.

State Bank of India and Punjab National Bank, some of the country's largest lenders, did not reply to requests for comment on the matter.

State-owned utilities are also not promoting rooftop solar as much, as they are concerned about the loss of revenue as sales move off the electric grid.

"Wealthier households typically have high electricity consumption, tariffs and reliable roof access. When they shift from the grid, it leaves a larger financial burden," said Niteesh Shanbog, an analyst at Rystad Energy.

($1 = 90.5440 Indian rupees)

(Reporting by Sudarshan Varadhan in Singapore, Gopika Gopakumar in Mumbai and Jatindra Dash in Bhubaneswar; Additional reporting by Saurabh Sharma and Sethuraman NR in New Delhi, and Jose Devasia in Kochi; Editing by Christian Schmollinger)

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Feb 2 (Reuters) - Indian Bank INBA.NS:

• INDIAN BANK - 1 YEAR MCLR UNCHANGED AT 8.75%

Source text: ID:nNSEbBxHtN

Further company coverage: INBA.NS

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Jan 22 (Reuters) - Indian Bank INBA.NS:

• Q3 NET PROFIT 30.61 BILLION RUPEES

• Q3 GROSS NPA 2.23%

• Q3 INTEREST EARNED 170.98 BILLION RUPEES

• Q3 PROVISIONS AND CONTINGENCIES 8.57 BILLION RUPEES

• Q3 PROVISIONS FOR NPAS 3.15 BILLION RUPEES

Further company coverage: INBA.NS

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** India's bank stock .NSEBANK sub-index rises 0.74% to a record high of 60,152.35; set for fourth straight day of gains

** Thirteen of the 14 stocks in the index trade higher; Axis Bank AXBK.NS slips 0.1%

** HDFC Bank HDBK.NS and ICICI Bank ICBK.NS rise 0.7% and 0.9%, respectively; top contributors to sectoral index's gains

** "Loan growth is recovering as banks across segments —public, private (large, mid-tier, regional) and SFBs (small finance banks) — are confident in their strengthened balance sheets and actively pursuing expansion," Kotak Institutional Equities said in a note on December 31

** Banks' asset quality is set to improve to a multi-decade high as per a recent RBI report

** Private banks index .NIFPVTBNK and PSU banks .NIFTYPSU rise 0.6% and 1%, respectively, to hit lifetime highs

** Indian Bank INBA.NS, South Indian Bank SIBK.NS, and Punjab & Sind Bank PUNA.NS rise 3%-4% after quarterly business updates

(Reporting by Vivek Kumar M)

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Jan 1 (Reuters) - Indian Bank INBA.NS:

• GROSS ADVANCES AS OF DEC-END UP 14.5% Y/Y

• TOTAL DEPOSITS AS OF DEC-END UP 12.5% Y/Y

Further company coverage: INBA.NS

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Dec 31 (Reuters) - Indian Bank INBA.NS:

• ONE YEAR MCLR REVISED TO 8.75% FROM 8.80%

Source text: ID:nBSE8LqvSH

Further company coverage: INBA.NS

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Oct 31 (Reuters) - Indian Bank INBA.NS:

• INDIAN BANK - RETAINS ONE-YEAR MCLR AT 8.85%

Source text: ID:nNSE4kdJNv

Further company coverage: INBA.NS

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Oct 1 (Reuters) - Indian Bank INBA.NS:

• INDIAN BANK - TOTAL DEPOSITS AS OF SEPT END UP 12.0% YOY

• INDIAN BANK - GROSS ADVANCES AS OF SEPT END UP 12.9% YOY

Source text: ID:nNSE5FWTQs

Further company coverage: INBA.NS

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** Indian Bank INBA.NS rises 3.68% to 720.25 rupees

** Motilal Oswal raises PT to 800 rupees from 750 rupees; maintains "buy"

** Says co offers combination of superior asset quality, steady double-digit loan growth, consistent return-on-asset above its own guidance

** Expects loan growth from FY25-FY28 at CAGR of 10%, slippages to stay below 1% of loans, supported by robust recoveries, strong underwriting

** Adds bank stands out as its preferred pick among mid-sized public sector banks, offering both defensive stability, structural growth

** YTD, INBA gains ~36%

(Reporting by Ananta Agarwal in Bengaluru)

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** Shares of Indian Bank INBA.NS climb 3.1% to 643.7 rupees

** Stock among top gainers in state-owned banks index .NIFTYPSU

** INBA reports ~24% rise in Q1 profit, helped by a sharp fall in provisions

** Gross bad loan ratio improves to 3.01% from 3.09% last quarter and 3.77% last year

** Over 3 mln shares traded, 1.5x the 30-day avg volume

** INBA rated "buy" on average, like most other public sector banks - data compiled by LSEG

** Stock up ~22% YTD, top gainer on public sector banks index .NIFTYPSU, which is up 8.5% this year

(Reporting by Nandan Mandayam in Bengaluru)

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July 2 (Reuters) - Indian Bank INBA.NS:

• INDIAN BANK - PROVISIONAL GROSS ADVANCES AS ON JUNE 30 UP 11.3% Y/Y

• INDIAN BANK - PROVISIONAL TOTAL DEPOSITS UP 9.3% AS OF JUNE 30

Source text: ID:nBSE62GhNY

Further company coverage: INBA.NS

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** Shares of state-run Indian Bank INBA.NS rise as much as 4% to 580.55 rupees

** INBA on Saturday reported ~32% Y/Y rise in Q4 net profit; interest earned rose 8.4% Y/Y

** Gross NPA improves to 3.09% from 3.26% in Q3

** Stock on track to snap three straight sessions of loss, if trend holds

** More than 2.8 mln shares change hands, 2.6x 30-day avg

** Avg rating of nine analysts equivalent of "buy", median PT is 675 rupees - data compiled by LSEG

** Stock last up 3.9%, taking YTD gains to 9.4%

(Reporting by Ashish Chandra in Bengaluru)

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April 24 (Reuters) - Indian Bank INBA.NS:

• INDIAN BANK - TO CONSIDER A PROPOSAL REGARDING CAPITAL RAISING

Source text: ID:nBSE4NrD9

Further company coverage: INBA.NS

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Indian Bank INBA.NS:

• INDIAN BANK - TOTAL DEPOSITS GREW 5.0% Q-O-Q AS AT MARCH END

• INDIAN BANK - ADVANCES GREW 5.2% Q-O-Q AS AT MARCH END

Source text: ID:nNSE6JdQ1W

Further company coverage: INBA.NS

March 20 (Reuters) - Indian Bank INBA.NS:

• INDIAN BANK - APPROVES RAISING ADDITIONAL INFRASTRUCTURE BONDS UP TO 50 BILLION RUPEES

Source text: ID:nBSEKX3m7

Further company coverage: INBA.NS

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March 14 (Reuters) - Indian Bank INBA.NS:

• INDIAN BANK - BOARD TO MEET ON MARCH 20 TO CONSIDER FUND RAISING PLAN

Source text: ID:nBSE4J3VVl

Further company coverage: INBA.NS

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Feb 19 (Reuters) - Indian Bank INBA.NS:

• INDIA ENFORCEMENT DIRECTORATE RESTORES IMMOVABLE PROPERTIES WORTH 2.35 BILLION RUPEES TO INDIAN BANK

• INDIA'S ED RESTORES IMMOVABLE PROPERTIES TO INDIAN BANK REGARDING MONEY LAUNDERING CASE OF SARAVANA STORES

Source text: [ID:]

Further company coverage: INBA.NS

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Jan 29 (Reuters) - Indian Bank INBA.NS:

• Q3 NET PROFIT 28.52 BILLION RUPEES

• Q3 GROSS NPA 3.26%

• Q3 INTEREST EARNED 157.59 BILLION RUPEES

• Q3 PROVISIONS AND CONTINGENCIES 10.59 BILLION RUPEES

Further company coverage: INBA.NS

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By Siddhi Nayak

MUMBAI, Jan 20 (Reuters) - The stock prices of Indian private lenders that have reported an increase in bad loans in their personal loans and micro-credit businesses are bearing the brunt of investors' fears of a U-turn in the asset-quality cycle for the country's banks.

RBL Bank's shares RATB.NS fell as much as 5.8% on Monday after the lender reported a near 28% sequential jump in quarterly slippages, or loans that were classified as non-performing for the first time.

Axis Bank AXBK.NS, India's third-largest private bank, forecast retail asset quality would take a few more quarters to normalise. Its stock sank 4.5% on Friday and dropped a further 1.1% on Monday.

Kotak Mahindra Bank KTKM.NS, however, gained 9% after reporting lower slippages than the previous quarter, although it also warned that the stress in parts of its loan book would persist.

Indian banks are grappling with rising bad loans, particularly in sectors such as microfinance, credit cards and personal loans. Analysts have attributed this to over-leveraging and an increase in loans outstanding per borrower.

The rise in delinquencies has forced lenders to allocate more funds for potential losses and pare back loan growth in these segments, which, in turn, hurts profitability.

"The sign of stress that is visible across microfinance and unsecured loans is a mild symptom of a tougher macro environment," said Kranthi Bathini, director of equity strategy at Wealthmills Securities.

"That is largely because banks are conservative towards loan growth, which coupled with tighter liquidity conditions, could mean that an economic recovery could be prolonged."

RBL Bank -- over 50% of whose slippages came from credit cards and microfinance loans -- should start seeing a normalisation in asset quality in the unsecured segment latest by July-September, CEO R Subramaniakumar said on a post-earnings call.

Kotak's gross non-performing assets ratio worsened slightly at the end of December and the lender said it would be cautious about unsecured loans going forward.

The stress "will take a couple of quarters to normalise," starting only from April-June, CEO Ashok Vaswani said at a media conference on Saturday.

Banks' gross NPA (non-performing asset) ratio could rise to 3% by the end of March 2026, from a 12-year low of 2.6% last September, the central bank said in its Financial Stability Report in December.

(Reporting by Siddhi Nayak; Editing by Savio D'Souza)

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