Indian Bank

INDIAN BANK THE PROJECT IS PRESENTED BY: PRANEELA PATIL ROLL NO. 31 S.Y.B.COM WITH BANKING & INSURANCE UNIVERSAL BANKING

INTRODUCTION  A premier bank owned by the government of India was established on 15th August 1907 as the part of swadeshi movement.  It serves the nation with a team of 22000 dedicated staff.  The bank has 88 Forex Authorized branches inclusive of 3 Specialized Overseas Branches.  It has launched several innovative loan products like Artisan Card, Kisan Card, Kisan Bike Scheme, and Yuva Kisan Vidya Nidhi Yojana to meet diverse credit needs of farmers.

HISTORY  The Bank was incorporated on March 5, 1907 under the Indian Companies Act, 1882 as Indian Bank Limited.  In 1969, the Bank was nationalized along with 13 other banks.  The Bank commenced business as Indian Bank Limited at Madras.  Indian Bank is engaged in diversified banking activities and has 3 subsidiary companies to look after them.

BACKGROUND  In 2000 the Bank has launched its vehicle loan and consumer loan Schemes in select cities.  In 2001 Sterling InfoTech Ltd has tied up with Indian Bank to help students obtain low-cost finance for the Carnegie Technology education software engineering course.  In 2003 Indian Bank has associated with the M S Swaminathan Research Foundation (MSSRF), Chennai to sponsor a programme on agriculturists to be aired on the All India Radio.  In 2004 Indian Bank got best commercial bank award.

 In 2005 Indian Bank has signs the papers with the National Exchange Company of Doha, Mussandum Exchange Company of Oman and Abu Dhabi-based UAE Exchange Company for money transfer business.  In 2006 Indian bank in negotiations with LIC.

PRODUCTS & SERVICES          

Fixed deposits Facility deposit Cash certificates Recurring deposit Variable recurring deposit Special recurring deposit Saving bank Health plus saving Current account Advantage account

 1. 2. 3. 4. 5. 6. 7. 8.

SERVICES ATM Cash management services Electronic fund transfer E-banking Merchant banking, broking and demat services Forex facilities for resident Sweep Wealth management services

CONCLUSION Indian bank is universal banking. Indian Bank is a front runner in specialized banking. Indian Bank is a pioneer in rural development. It has provided loans to agriculture sector also. Indian bank is one of the best commercial bank in India.  Indian Bank has an impressive international presence.     

RECOMMENDATIONS  It should provide complete range of services under one roof.  It should also provide many investment services to the customers.  It should provide more insurance products.  It should have its insurance product in all the branches.  It should provide bancassurance.