Indian Bank eyes recovery of Rs 7,000 crore this financial year : MD & CEO Shanti Lal Jain

Indian Bank has set a target to recover around Rs 7,000 crore during the current financial year, with approval from the Reserve Bank of India and shareholders to raise Rs 5,000 crore. The bank reported a 41% increase in net profit to Rs 2,403 crore for the April-June 2024 quarter due to a decline in bad loans. The recovery is expected to be more than the slippages during the current financial year.