Interested bidders have to submit their expressions of interest by July 30. It may be extended from time to time, the notice said. SBI Capital Market has been appointed as an advisor for the proposed stake sale.
"We have to inform that non-performing account (NPA) Saravana Stores (Gold Palace) has been declared as fraud and reported to RBI as per regulatory requirement," Indian Bank said in a regulatory filing.
"These searches are part of a special drive to book fraudsters on the complaints received from different nationalised banks in India. The complainant banks include Indian Overseas Bank, Union Bank of India, Bank of Baroda, Pu
The bank plans to raise Basel III compliant Tier II Bonds for Rs 1,100 crore in one or more tranches in the current or subsequent years based on the requirement, Indian Bank said in a regulatory filing.