Indian Bank Eliminates Minimum Balance Charges, Reduces MCLR

1 min read     Updated on 02 Jul 2025, 06:52 PM
scanxBy ScanX News Team
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Overview

Indian Bank announces two significant changes: waiver of minimum balance charges for all savings accounts effective July 7, 2025, and a 5 basis point reduction in one-year MCLR to 9.00%, effective July 3, 2025. These moves aim to enhance customer satisfaction and adjust lending rates in response to market conditions.

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*this image is generated using AI for illustrative purposes only.

Indian Bank , a prominent public sector bank in India, has announced two significant changes that are set to benefit its customers. The bank is making moves to enhance customer satisfaction and adjust its lending rates in response to market conditions.

Waiver of Minimum Balance Charges

In a customer-friendly move, Indian Bank has decided to waive charges for non-maintenance of minimum balance across all savings accounts. This change will come into effect from July 7, 2025. This decision is likely to bring relief to many account holders, especially those who struggle to maintain the required minimum balance in their savings accounts.

The elimination of these charges could potentially:

  • Reduce the financial burden on customers
  • Attract new account holders
  • Improve overall customer satisfaction and loyalty

Reduction in MCLR

Alongside the minimum balance charge waiver, Indian Bank has also announced a reduction in its one-year Marginal Cost of Funds based Lending Rate (MCLR). The bank has cut its MCLR by 5 basis points, bringing it down to 9.00%. This change will be effective from July 3, 2025.

The MCLR is a benchmark interest rate, which is the minimum rate at which banks can lend. A reduction in MCLR typically leads to:

  • Lower interest rates on loans linked to MCLR
  • Potential benefits for existing and new borrowers
  • Possible stimulation of credit growth

Implications for Customers and the Bank

These dual announcements from Indian Bank signify a strategic move to enhance its competitive position in the banking sector. By waiving minimum balance charges, the bank is likely aiming to expand its customer base and improve retention rates. The MCLR reduction, on the other hand, could make the bank's loan offerings more attractive in the market.

For customers, these changes translate to potential savings and increased accessibility to banking services. Borrowers with MCLR-linked loans may see a reduction in their equated monthly installments (EMIs) or loan tenures, depending on the terms of their loans.

As these changes are set to take effect in the coming months, customers of Indian Bank can look forward to these benefits, while the banking sector watches to see if these moves will influence similar decisions by other banks in the competitive Indian banking landscape.

Historical Stock Returns for Indian Bank

1 Day5 Days1 Month6 Months1 Year5 Years
+0.15%+4.83%+0.68%+24.32%+20.99%+888.83%
Indian Bank
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Indian Bank Sees Major Block Trade: Over 1 Million Shares Change Hands

1 min read     Updated on 16 Jun 2025, 09:57 AM
scanxBy ScanX News Team
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Overview

A significant block trade of Indian Bank shares occurred on the National Stock Exchange (NSE). The transaction involved 1,053,728 shares, valued at Rs. 65.87 crores, with each share priced at Rs. 625.10. This large-scale trade indicates substantial investor interest in the public sector bank, potentially reflecting broader trends in the banking sector.

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*this image is generated using AI for illustrative purposes only.

In a significant market move, Indian Bank witnessed a substantial block trade on the National Stock Exchange (NSE), highlighting investor interest in the public sector lender.

Block Trade Details

A block trade involving approximately 1,053,728 shares of Indian Bank was executed on the NSE. The transaction, valued at Rs. 65.87 crores, saw the shares changing hands at a price of Rs. 625.10 each.

Transaction Highlights

Item Value
Number of Shares 1,053,728
Total Transaction Value Rs. 65.87 crores
Price per Share Rs. 625.10

Market Implications

Block trades of this magnitude often attract attention from market participants as they can indicate significant changes in ownership or investment strategies by large institutional investors. While the identities of the buyers and sellers in this transaction remain undisclosed, such trades can sometimes provide insights into market sentiment towards the banking sector or the specific institution.

About Indian Bank

Indian Bank is a major public sector bank in India, offering a wide range of banking products and services. The bank has a significant presence across the country and plays a crucial role in the Indian banking landscape.

This block trade underscores the ongoing interest in Indian Bank's shares and may reflect broader trends in the banking sector. Investors and market analysts will likely monitor any potential impact on the bank's stock price and trading volumes in the coming sessions.

Historical Stock Returns for Indian Bank

1 Day5 Days1 Month6 Months1 Year5 Years
+0.15%+4.83%+0.68%+24.32%+20.99%+888.83%
Indian Bank
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