Chennai, August 11, 2021– Indian Bank has signed an MOU and partnered with the Paralympic Committee of India (PCI) as one of the Banking Partners ahead of the Paralympic Games, Tokyo 2020, scheduled to commence from the 24^th of August 2021. The Bank, through its year-long association with PCI, will provide financial assistance, in an endeavor to support the Paralympic athletes prepare for the coveted sporting events in the domestic arena as well as global platforms for a year.

Dr. Deepa Malik, President, PCI, and Mr. Ravindra Singh, Field General Manager (Delhi), Indian Bank emphasized while signing the MOU that the resources offered by the bank will be channelized towards meeting the requirements of the Indian Para-athletes ranging from their training, nutrition, equipment, certifications to name a few. Timely financial aid provided to these sportspersons will encourage them to focus their efforts on the game and win laurels for the country.

On this occasion, Ms. Padmaja Chunduru, MD&CEO, Indian Bank, said, “We are delighted to have partnered with PCI to work towards promoting the Paralympic ecosystem and making resources available for differently-abled athletes in our nation. Even though the Paralympic movement is at a nascent stage in India, several young and talented athletes have been training rigorously to represent India in an international arena. It is our belief that this initiative will empower many athletes to take up sports as a career without experiencing any dearth of resources. At Indian Bank, we have always strived to maintain an inclusive environment and supported employees who have exhibited a flair for sports.”

About Indian Bank

About Indian Bank, Indian Bank is the seventh-largest public sector bank in India. Established in 1907 and headquartered in Chennai, the bank serves over 10 crore customers with 41,557 employees. With effect from 1st April 2020, Allahabad Bank got merged into Indian Bank. Indian Bank has a pan India network with 20596 touch points including 6004 Brick & Mortar branches, 5428 ATMs/BNAs, 9161 Business Correspondents, and 3 overseas branches.

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Mumbai, August 2, 2021: Indian Bank, today, entered into an MOU with Society for Innovation and Entrepreneurship (SINE), IIT Bombay – an initiative of Indian Institute of Technology, Bombay – for extending exclusive credit facility to Start-ups and MSMEs.

SINE, IIT Bombay is the forerunner in setting up joint R&D with industries and supporting start-up incubation. SINE, IIT Bombay provides support to the MSME sector by providing joint research and development arrangements and technical and financial support for incubation and acceleration of high-end technology products.

Start-ups require funding to expand and grow. One of the most common problems they face is maintaining a positive cash flow. Under the MOU, SINE, IIT Bombay will identify the start-ups and MSMEs based on their credentials and past experience and will refer the list of such members who require financial assistance to the Bank.

This initiative is a part of the Bank’s scheme “Ind SpringBoard for financing Startups” and will empower Startups and MSMEs to realize their research efforts powered by financial support from the Bank and backed by an incubation facility offered by SINE, IIT Bombay. The Bank will extend loans of up to Rs. 50 crores to these start-ups for their working capital requirements or purchase of machinery, equipment, etc. As the name goes, this initiative, which is mutually beneficial for both Bank and IIT Bombay, will be the springboard for start-ups to realize their ambitions.

Speaking on the occasion, Ms. Padmaja Chunduru, MD & CEO of Indian Bank, highlighted the start-ups’ need to be suitably counseled about the significance of equity and debt funding.

Indian Bank has also recently launched the “MSME Prerana” program to empower MSME entrepreneurs through skill development and capacity-building workshops in local languages.

MOU was signed by Shri Sudhakar Rao (GM, MSME, Indian Bank) and Prof Santosh J Gharpure, Professor-in-Charge, SINE in the august presence of MD & CEO, Ms. Padmaja Chunduru today at IIT Bombay. Shri. Rohit Rishi (FGM, Mumbai, Indian Bank), Ms. Poyni Bhatt, CEO, SINE, IIT Bombay) and other senior officials of Indian Bank and SINE, IIT Bombay were also present on this occasion.

About Indian Bank

About Indian Bank, Indian Bank is the seventh-largest public sector bank in India. Established in 1907 and headquartered in Chennai, the bank serves over 10 crore customers with 41,557 employees. With effect from 1st April 2020, Allahabad Bank got merged into Indian Bank. Indian Bank has a pan India network with 20596 touch points including 6004 Brick & Mortar branches, 5428 ATMs/BNAs, 9161 Business Correspondents, and 3 overseas branches.

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Pune, August 05, 2019: Indian Bank, one of the oldest and trusted public sector banks in the country, today joined hands with SBI Life Insurance, a leading private life insurer in a bancassurance pact to offer holistic financial planning solutions to consumers.

The agreement was signed in the presence of Smt. Padmaja Chunduru, MD & CEO, Indian Bank & Shri Sanjeev Nautiyal, MD & CEO, SBI Life.

Ensuring greater reach and penetration, the partnership will see over 2851 branches of Indian Bank spread across the country to offer SBI Life’s diverse range of individual and group insurance solutions to meet various insurance needs of customers related to protection, savings, health, credit life etc. SBI Life will work with the Chennai headquartered-Indian Bank to ensure sales training, product support and smooth operational processes in order to offer life insurance policies to its customers.

The customers of Indian Bank will have access to an array of life insurance products from SBI Life catering to varied life stage needs of the customer. With Indian Bank’s widespread presence and SBI Life’s extensive product portfolio, this partnership will ensure easier accessibility of life insurance to consumers.

Speaking on the occasion, Ms. Padmaja Chunduru, MD & CEO, Indian Bank said, “This tie-up with a reputed player will add to the bouquet of products to the valued customers of the Bank”.

Commenting on this initiative, Mr. Sanjeev Nautiyal, MD & CEO, SBI Life Insurance said, “Bancassurance, as a channel, has been a strong differentiator for us and we continue to explore more opportunities through partnerships with credible organizations. We are excited and thrilled, in equal measure, to partner with Indian Bank that enjoys a rich history in serving customers over a long period of time. The tie-up, besides bolstering SBI Life’s presence will also help provide more holistic financial planning solution to the bank’s customers. We are confident that the partnership will further empower us in making insurance reachable to more consumers across the county.”

For more details on Indian Bank and SBI Life Insurance, please visit:

• www.indianbank.in
• www.sbilife.co.in

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