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Indian Bank sets up mid-corporate vertical, expects 10% growth

Indian Bank has set up a separate vertical to cater to mid-corporates. The loans above Rs 250 crore will be part of this segment. Padmaja Chunduru, MD & CEO of Indian Bank, told ETBFSI that after the amalgamation of Allahabad Bank, now Indian Bank, size of the balance sheet has become huge. She explained the strategy on how Indian Bank and Allahabad merger will pan out. She also highlighted why there is a low response for the restructuring and how is the credit growth looking like? She further discussed Indian Bank’s partnerships with startups and FinTechs, and other future plans.

Indian Bank has decided not to postpone any default with the repayments. The bank has also been reaching out to borrowers in order to avoid potential defaults. But like many others, Indian Bank, too, is receiving low response for restructuring.

“We were expecting corporate and retail both to apply for restructuring schemes. But now there is a low response from the retail segment. On the corporate side, a few are showing interest, said Padmaja Chunduru