Indian Bank was established as a part of Swadeshi movement on August 15, 1907. It provides a wide spectrum of banking products and services. It is pioneer in introducing Self Help Groups and Financial Inclusion Project in the country.

The year 2019-20 was eventful for Indian Bank as the Bank was identified as the Anchor Bank in consolidation of PSBs. The Government on August 30, 2019 announced the Amalgamation of Allahabad Bank- a bank with 155 years legacy into Indian Bank.

Post amalgamation, Indian Bank enjoys the benefits of doubled balance sheet size, optimized capital utilization and wider geographic reach leading to deeper penetration. The Bank has access to larger talent pool, better products and opportunities to cross sell / upsell. It also leverages upon the increased operational and process efficiencies.

The bank provides a wide spectrum of banking products and services. The services offered by the bank include personal banking - under this the bank offers fixed deposits, saving accounts, recurring accounts, saving accounts for kids and senior citizens, internet banking, ATM facility, debit/credit cards, home loans, personal loans. The bank offers banking products and services to NRI clients such as saving accounts, remittance facilities, forex advisory services, home loans, etc. 

Products and services

• Loan products
• Deposit products
• Digital Products
• Point of Sale (PoS)
• Merchant UPI QR Code
• BHIM Aadhaar Pay
• Online Collection Products
• Featured Products / Services / Schemes
• National Pension System (NPS)

Awards & Accolades

FY 2017-18

• Named the Best Brand by ‘the Economic Times Best BFSI Brands 2018’
• Financial Express/EY Best Bank 2016-17 - Nationalised Banks
• ASSOCHAM Social Banking Excellence Awards 2017 Winner Best Social Bank category and Runner up Priority sector lending

FY 2018-19

• Best performing PSB under APY 2017-18 - PFRDA
• Best Performance - Financial Literacy - 2018-19 - NABARD
• Best Bank in SHG Bank linkage Programme' for 2017-18 from Govt of Tamil Nadu. Bank has bagged this award for consecutive years.
• National Award for Best Performance in SHG Bank Linkages 2017-18 Public Sector Banks (Small Category) by National Rural Livelihoods Mission, Ministry of Rural Development, Government of India.
• Best Financial Inclusion Initiatives - Runner up - Indian BanksAssociation (IBA).
• ASSOCHAM - Social Banking Excellence Award 2018 - Winner in Agricultural Banking, Priority Sector Lending, Technology & Overall Best Social Bank.
• Best Public Sector Bank Banking Excellence Award 2018 - By State Forum of Banker's Clubs Kerala.

FY 2019-20

• Technology Senate’ award from Indian Express Group for the product ‘VCollect Plus’ for enabling collection through Cash / Cheque at any branch or NEFT / RTGS through any Bank
• MeitY Award for Digital Payments under Mid-Size Bank category for the highest digital transactions.

• First among PSBs for Excellence in performance under “SHG Bank Linkage Programme in Tamil Nadu” for FY 2019-20 from NABARD.
• Bank has been bagging the Best Bank award for 11 consecutive years in “SHG Bank linkage Programme” from Govt. of Tamil Nadu.
• Performance of Bank in SHG lending in the State of West Bengal for FY 2019-20 was recognized by West Bengal State Rural Livelihood Mission.

• In APY, Bank bagged 2nd position in PFRDA in terms of annual APY performance with 96 Average Accounts Per Branch (AAPB) and awarded “Annual APY Award for Excellence” for FY 2021-22 having achieved 137% of target.
• Bank ranked No.1 and was awarded “Par Excellence” for Amazing Achievers of APY 2.0 campaign of PFRDA for FY 2021-22. Amongst all PSB branches, the first three positions in the Industry was won by Bank branches i.e. Gola Gokarn Nath, Baberu and Mankapur.

• Bank emerged as the winner in BFSI Award 2023 in Best Brand category for spurring growth amidst global slowdown by the Economic Times.
• Bank received the “Golden Peacock National Training Award-2023’’ for excellence in training practices from Hon’ble Minister of UAE at Dubai.
• Bank bagged “CGTMSE Achievement Award FY23” for best efforts in information dissemination.

• It was recognized as the Fastest Growing Public Sector Bank by Dalal Street Investment Journal (DSIJ) in the 2023 Banking awards.
• The Bank received the BFSI Award for Use of Emerging Technology in Banking Industry for Project 'PARADISE,' acknowledging its adoption of Cloud Computing for AiX Environment.
• At the IBA 19th Annual Banking Technology Conference, Expo & Citations, the Bank was acknowledged with a 'Best Technology Bank -Special Mention' award.
• Marksmen Daily named it the Most Preferred Workplace in the BSFI sector for FY24.
• Among all PSBs, the Bank topped the campaign for MD & CEOs and EDs, earning the Exemplary Award of Par Excellence APY Leadership Pinnacle.

• The Bank received prestigious SKOCH Award for “Project WAVE”, - Indian Bank's digital transformation journey and for “SMA Collection Proclivity Predictor”- a model built to predict the probability of default for Special Mention Accounts (SMA) and reduce risks by outlining a targeted collection journey.
• At Tamil Nadu Leadership Awards 2024, the Bank received CEO of the Year Award and Best Public Sector Bank Award.
• At the EASE 6.0 Reforms Index awards, the Bank was awarded as the second-best improver in the Top Improver category and it secured the third position in the People & HR Operations category.
• The Bank was recognized at ASSOCHAM's 11th MSME Excellence Award & Conference in New Delhi, receiving accolades for Excellent Customer Service for MSMEs and being named the Best Technology Enabler of the Year for MSMEs.
• Indian Bank was honoured during the ET Now Best BFSI Brands 2025 Conclave.
• The Bank has received The Economic Times CIO Award for Enterprise IT Excellence 2025 for its exceptional achievement in implementing cutting-edge technology for a future-proof digital infrastructure.
• The Bank won the 5th edition of Most Trusted Brands in India 2025-26 by Marksmen Daily.

Milestones

• 1907: Bank was incorporated on March 5, 1907 with an Authorized Capital of Rs 20 lakhs and commenced its business on August 15, 1907.
• 1907: In the year 1907, the Indian Bank Ltd. had the tree 'Banyan' as a part of its emblem denoting an all-around progress, growth (far and wide) and an ever increasing prosperity.
• 1921: Bank's capital was raised to Rs 60 lakhs from Rs 20 lakhs.
• 1932: Bank celebrated its Silver Jubilee
• 1932: Bank opened its first overseas operations in Colombo
• 1941: Singapore branch was opened
• 1952: Bank's deposits crossed Rs 20 crore at the end of 1952.
• 1957: Bank celebrated its Golden Jubilee
• 1967: Bank celebrated its Diamond Jubilee
• 1970: Bank's Head Office housed in a rental building, moved into the new building.
• 1978: Indian Bank's logo was approved in July 1978 comprising of three circling arrows arranged around a central point.
• 1980: Bank's deposit crossed Rs 1000 crore.
• 1982: Bank celebrated its Platinum Jubilee
• 1983: Bank crossed its Rs 1000 crore mark in credit.
• 1985: Global Deposit crossed the Rs 3000 crore mark.
• 1986: Global credit crossed Rs 2000 crore.
• 1989: The era of technology initiated with the installation of Mainframe at the Head Office.
• 1989: Indian Bank was the first Public Sector Bank to install ATM.
• 1990: Bank of Thanjavur Ltd. (BoT) with 157 branches was amalgamated with the Bank.
• 1993: The first total branch computerization project was inaugurated.
• 1999: Bank's domestic deposits crossed the Rs 15000 crore mark during the year.
• 1999: Government of India infused a sum of Rs 100 crore during March 1999 as additional capital.
• 2002: Bank turned around by earning a net profit of Rs 33.22 crore during the year after a gap of 6 years.
• 2002: Bank posted an operating profit of Rs 307.15 crore, with an increase of nearly 399%.
• 2006: The centenary year celebration of the Bank was inaugurated by His Excellency the President of India Shri.AP JAbdul Kalam on 4 September.
• 2007: Bank went in for Initial Public Offer in February, 2007.
• 2008: Bank's business crossed the Rs 1 lakh crore mark in March 2008.
• 2008: Achieved 100 per cent Core Banking Solutions (CBS) compliant.
• 2011: Jaffna branch was opened on January 21, 2011.
• 2012: Inauguration of new Hi-Tech Corporate Office, at Royapettah which is considered a landmark in Chennai.
• 2012: Bank crossed the Rs 2 lakh crore mark in business.
• 2013: Bank crossed the 2000 mark in branch network.
• 2013: First Corporate Office building among PSBs in India to get the ISO 9001:2008 Certification
• 2015: Bank's business crossed milestone of Rs 3 lakh crore in June 2015.
• 2018: Bank was the only PSB which had not received capital from Govt of India.
• 2019: Bank's business crossed Rs 4.5 lakh crore in December 2019.
• 2019: Government of India announced Amalgamation of Allahabad Bank - a bank with 155 years legacy into Indian Bank.
• 2020: Indian Bank launches emergency credit facilities for agriculture sector
• 2021: Indian Bank entered into an Memorandum of Understanding (MOU) with Society for Innovation and Development (SID), an initiative of Indian Institute of Science, for extending exclusive credit facility to Start-ups and MSMEs.
• 2022: Bank’s Global Business surpassed Rs 10 lakh crore.
• 2023: Bank’s Global Business was at Rs 10.95 lakh crore.
• 2024: Bank’s Global Business surpassed Rs 12 lakh crore.
• 2025: Bank’s Global Business stood at Rs 13.25 lakh crore.