CURRENT AFFAIRS : BANKING & FINANCE
Indian Bank empanelled as Clearing and Settlement Bank with Indian Clearing Corporation Limited
- Indian Bank has been empanelled as a Clearing and Settlement Bank with the Indian Clearing Corporation Ltd (ICCL).
- Mahesh Kumar Bajaj, Executive Director, Indian Bank exchanged the agreement with Devika Shah, Managing Director (MD) & Chief Executive Officer (CEO) of ICCL to formalise Bank’s empanelment at a recently held event.
- The public sector bank can now facilitate banking services to members of BSE (formerly Bombay Stock Exchange) for clearing and settlement operations.
- The Indian Bank also launched the electronic term deposit receipt (e-TDR) product for online transmission of fixed term receipts (FDR) and margin with ICCL on behalf of the clearing members with its dedicated branch – Fort, Mumbai, Maharashtra.
