Indian Bank has reviewed the existing Marginal Cost of FundsBased Lending Rates (MCLRs) of the Bank and decided to reduce the MCLR for one year Tenor by 05 basis points effective from 03 September 2020. The details are as under:

Overnight - 7.05%
One month - 7.10%
Three months - 7.25%
Six months - 7.30%
One year - 7.30%

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Indian Bank announced that CRISIL has assigned CRISIL AAA/(Outlook:Negative) to Bank's Proposed Tier 2 Bonds (Basel III) aggregating to Rs.2000 crore and CRISIL AA/(Outlook: Negative) to Bank's Proposed Additional Tier 1 Perpetual Bonds (Basel III) aggregating to Rs.2000 crore.

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Indian Bank announced that CARE Ratings has assigned CARE AAA /(Outlook: Credit watch with developing implications) to Bank's Proposed Tier 2 Bonds (Basel III) aggregating to Rs.2000 crore and CARE AA+/(Outlook: Credit watch with developing implications) to Bank's Proposed Additional Tier 1 Perpetual Bonds (Basel III) aggregating to Rs.2000 crore.

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Indian Bank has received revision in credit ratings from CRISIL as under -

Basel III Tier 2 Bonds - Tranche A (Rs 600 crore) - AAA/ Negative
Basel III Tier 2 Bonds - Tranche B (Rs 290 crore) - AAA/ Negative
Basel III Tier 2 Bonds - Tranche C (Rs 110 crore) - AAA/ Negative
Basel III Tier 2 Bonds - Tranche D (Rs 600 crore) - AAA/ Negative
Basel III compliant AT 1 Bonds - Tranche A (Rs 500 crore) - AA/Negative

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