Indian Bank board to consider results, dividend; faces RBI penalty

Indian Bank has scheduled a Board of Directors meeting on May 3, 2025, to consider and approve the audited financial results (standalone and consolidated) for the fourth quarter and financial year ended March 31, 2025. The board will also consider a dividend recommendation for FY25, subject to regulatory approvals, and a proposal regarding the bank's fund or capital raising plan. Simultaneously, Indian Bank disclosed that the Reserve Bank of India (RBI) has imposed a monetary penalty of INR16,140,000 on the bank. The penalty stems from contraventions, including the non-transfer of eligible amounts to the Depositor Education and Awareness Fund and non-compliance with certain RBI directives on interest rates on advances and lending to specific sectors. Indian Bank has initiated preventative actions to avoid future recurrence of such issues. Trading window for directors and designated persons will re-open on May 6, 2025.