INDIAN BANK - Outcome of Board Meeting

Further to the letter dated May 02, 2017, intimating about taking up of a proposal to issue Long Term Bonds by the Bank with the Board for approval, the Board of Directors has, in its meeting held on May 05, 2017, accorded in-principle approval for issue of Long Term Bonds for financing of Infrastructure and Affordable Housing upto an amount of Rs.5,000 crore. The Board will consider specific approval for the same at the time of actual floating of the Bonds.