Indian banks News
Indian Bank gets Rs 63 cr, post Indfund merger
The board of Indian Bank has approved the merger of the bank’s wholly-owned asset management subsidiary, Indfund Management Limited (IFML), with itself, which will be completed in another three months. Post the merger, around Rs 63.03 crore will flow into the bank’s reserves as Tier-I capital.
“At present, Indfund Management is not involved in any business activity. While Rs 48.71
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