Mandatory Disclosure by the
Bank under section 4 (1)(b) of RTI Act and its annual
updation - 2015
The particulars of its organisation, functions and duties
The Bank was established on 15th August 1907 as part of the Swadeshi Movement and so proudly shares its founder’s day with Nation’s Independence Day. Indian Bank was one among the 14 Banks nationalized on July 19, 1969. In 2007 the Bank became a Public Listed Bank. As on 28.02.2015, the Government of India was holding 81.51% of the equity capital of the bank with the balance 18.49% with the general public.
The Bank has a three tier Organizational set up comprising its Corporate Office at Chennai, 39 Zonal Offices and 2392 branches as on 31.01.15 spread all over the country.
Besides the Bank provides 24x7 Banking service through ATMs
spread all over the country. For location of ATM and its
address click: ATM Network
For location of branches and their addresses
=>click on Branch
Bank has 3 Overseas Branches - one in Singapore, for details click Singapore and 2 in Srilanka. For details click Colombo and Jaffna.
The activities of the Bank are covered by the Banking Regulation
Act and the directives of RBI issued from time to time
Bank has two subsidiaries:
1. Indbank Merchant Banking Services Ltd. for details click Indbank Merchant Banking Services Ltd.
2.Indbank Housing Ltd.
Bank has sponsored three Regional Rural Banks (RRBs) . for details click
Pallavan Grama Bank , Puduvai Bharathiar Grama Bank, Saptagiri Grameena Bank.
||The powers and duties of its officers and employees
||For powers and
duties of the officers and employees of the Bank click Job
roles/duties of Employees and Officers .
||The procedure followed in the decision making process, including channels of supervision and accountability
The Administrative and Credit Powers of officers at various levels and of different scales to be exercised in the process of decision making and the procedural guidelines on the channels of supervision and accountability are decided by the Board and kept as a confidential document.
The credit decisions at Branch level are taken by Branch Managers at various levels from Asst. Manager to DGM of Branch depending upon their positions. Credit decisions at Zonal level are taken by the Zonal Office Level Credit Committee (ZLCC) and Zonal Level Second in Command Credit Committee (ZLSCC).
At Corporate Office level, Credit decisions are taken at Corporate Office Level Credit Committee (COLCC – GM), Corporate Office Level Credit Committee (COLCC - ED) and Credit Approval Committee.
At Management Committee of Board level, the proposals are put up through Credit Steering Committee
||The norms set by it for the discharge of its functions
||The norms for
discharge of the functions of the Bank are based on RBI directives
with Board’s approval. For Time Norms for certain
services click Time Norms for certain services in normal
||The rules, regulations, instructions, Manuals and records, held by it or under its control or used by its employees for discharging its functions;
All branches and offices of the
Bank are provided with the copies of Manuals of Instructions
and circulars for discharging their functions effectively.
For list of manuals => click manuals.
The details of such manuals being voluminous, covering several thousand pages are not ported in the Bank’s web site www.indianbank.in.
Whenever any specific detail on such list is sought for, it could be provided for inspection subject to provisions of RTI Act.
||A statement of the categories of documents that are held by it or under its control
Branches hold the documents relating to loan borrowers and deposit customers.
Based on the Central and State Laws, Corporate Office has prescribed the list of various documents to be held/maintained by the branches/offices of the Bank.
The particulars of any arrangement that exists for consultation with, or representation by, the members of the public in relation to the formulation of its policy or implementation thereof
There is no arrangement for consultation with the members of public in formulating any of the policies of the Bank.
The Joint Customer Service Committees at Zonal Level and Branch level are constituted with Bank customers as members to offer their suggestions/ grievances in the committee meetings and the committee meeting is held every month at Zonal level/Branch level.
However, as directed by RBI, the Standing Committee on Customer Service at Corporate Office includes five customers of the Bank representing the Public.
A statement of the boards, councils, committees and other bodies consisting of two or more persons constituted as its part or for the purpose of its advice and as to whether meetings of those boards, councils, committees and other bodies are open to the public, or the minutes of such meetings are accessible for public
are ported in Bank’s website www.indianbank.in For
details of Board =>click Board of Directors.
Managing Director & Chief Executive Officer’s profile, click MD & CEO’s
Profile. For details of General Managers click General
For statement of committees Click Names of the Committees
of the Board .For further details of their constitution,
purpose and the number of members in each committee, visit
our website www.indianbank.in => about
us => annual Report => Report on corporate governance.
The meetings of the Board, Councils and Committees are not
open to the public. As also the minutes of such meetings are
not accessible to the public.
A directory of its officers and employees
For the directory
of officers and employees viz. SR No., name, Branch, Zone/Head
Office, designation and Gross Salary drawn as on 28.02.2015
of officers, employees and their gross salary
The data in the website is updated Annually in the month of February as the data keeps changing from month to month due to transfers/ placements retirements. The gross salary keeps changing due to arrears of various allowances/annual increments/ change in DA/HRA etc.
Regarding the system of compensation in the Bank, it is informed that for officers, it is fixed as per Officers Service Regulations and for employees it is based on Bi-partite settlement.
|| The monthly remuneration received by each of its officers and employees, including the system of compensation as provided in its regulations
||The budget allocated to each of its agencies, indicating the particulars of all plans, proposed expenditures and reports on disbursements made
||There is no provision of budget allocation for Bank for proposed expenditure and disbursements. This provision is not applicable to banks. There are targets furnished to the various functionaries at zonal level for mobilizing Business..
||The manner of execution of subsidy programmes,
including the amounts allocated and the details of beneficiaries
of such programmes
Our Bank implements certain subsidy loaded loan schemes of central government and state government viz. PMEGP Scheme, UYEGP Scheme, Technology Up gradation Fund Scheme (TUFS) for Textile Industry offering certain percentage of subsidy of the loan projects.
Sponsoring Departments of Central and State Government shortlist the beneficiaries of such programmes and allocate among the banks in the respective area of operation. The subsidy is managed by the respective sponsoring Departments of Central and State government.
There are different loan products of the Bank offered to the public. For details click Loans
The public are informed that the sanctioning authorities shall decide to sanction a loan exercising the powers conferred by the Bank after taking into consideration the facts, figures and merits of each loan proposal..
||Particulars of recipients of concessions, permits or authorisations granted by it
There are no programmes of the bank granting concessions; permits, authorizations except preferential rate of interest at 1.00 % p.a higher than the card rates on deposits to staff members, ex- staff members, additional rate of interest of 0.50 % p. a is payable under domestic term deposit scheme for senior citizens (aged 60 years and above).
||Details in respect of the information, available to or held by it, reduced in an electronic form
has public/customer’s interest is ported in our web site www.indianbank.in for
the benefit of our customers and public in general.For details
of tenders/Bids/Auction click Tenders/Bids/Auction.
|| The particulars of facilities available to citizens for obtaining information, including the working hours of a library or reading room, if maintained for public use
charter is ported in our web site www.indianbank.in For
details click citizen
details of Contacts click Contacts, for
details of Corporate Governance clic Corporate
All the branches of the bank subscribe one vernacular and one English daily news papers for the use of Public.
The working Hours of the branches are displayed in the branch premises in Bold letters for the information of the Public.
||The names, designations and other particulars of the Public Information Officers and Asst Public Information Officers are given in the below Hyper Link
A General Manager is designated under section 19(1) of RTI Act, as the First Appellate Authority (FAA) and a Deputy General Manager is designated as Public Information Officer (PIO) under section 5 of RTI Act. All the Zonal Heads are designated as Assistant Public Information Officers (APIO) under section 5 of RTI Act. For details click
Telephone/Fax No/email ID of Public Information Officers & Assistant
Public Information Officers, First Appellate Authority
and Transparency Officer.
For fee details under RTI Act rules -> click Regulation
of fee and cost rules. For model application form click
The applications under RTI Act and application fee of Rs.10/-
in cash are accepted by all our branches.
Application fee of Rs.10/- in cash is accepted by all our branches. The applicant is required to enclose proof of such cash remittance with his application.
Such other information as may be prescribed; and thereafter update these publications every year
relating to public is ported in the Bank’s web site from
time to time. For details of financial results click: Financial
Results, for information relating to investors
click Investors, for annual
reports click Annual Reports.
and for criteria for selection of concurrent auditors click Empanelment of audit firms for conducting Concurrent Audit. The information under section 4(1)(b) of RTI Act is updated annually in the month of February.
Here for Exemption From Disclosure of Information ( Sec.8 of
the RTI Act)
Note to Public: Redressal of Grievances is outside the ambit of RTI Act.
As per section 4 (2) of RTI Act, Bank disclosed the information suo motu as under: for details Click on the link.
* Code of Commitment to Customers * Code of Commitment to Micro & Small Enterprises * Policy on Collection of Cheques * Policy on Grievance Redressal and Compensation to customers for deficiency in services * Know Your Customer (KYC) Documents* * Simplified norms for KYC updation and procedure for closure of KYC non-complied accounts* Savings Bank Account Rules * Current Account Rules * Nomination Rules * Salient Features of Genuine Currency Notes of Reserve Bank of India (RBI) * Nodal Officers for customer complaints/Principal Code Compliance Officer/ Nodal Officers under Banking Ombudsman scheme * Guidelines on Agricultural Debt Waiver and Debt Relief (ADWDR) Scheme – 2008 * List of beneficiaries under (ADWDR) Scheme 2008 , Financial Inclusion * Services rendered free of charge * Welfare of Minorities, * Whistle Blower Policy * Policy on dishonor of cheques * ATM Withdrawal Failure Complaint * Educational loan * Interest Subsidy on Educational loans * Policy on Deposit, * Policy on Appointment of Statutory Central/Branch Auditors * List of Holidays * Procedure of Locker/Safe Deposit of Articles * Service Charges/Forex Rates, * Lending Rates * Deposit Rates*
,* Banking Ombudsman scheme , * HOT LISTING OF ATM/DEBIT CARD