Covid-19: Indian Bank appoints over 100 on compassionate grounds

Addressing reporters, Indian Bank Managing Director and CEO Padmaja Chundru said the bank had unfortunately lost 114 employees to Covid-19, most of them during the pandemic's second wave. She further said 102 persons, who are family members of Covid-19 victims, have been appointed on compassionate basis.

Chennai:The government-owned Indian Bank has appointed over 100 family members of employees, who had succumbed to Covid-19, on compassionate grounds.

Addressing reporters, Managing Director and CEO Padmaja Chundru said the bank had unfortunately lost 114 employees to Covid-19, most of them during the pandemic's second wave.

Chundru said 102 persons - family members of employees who had died due to Covid-19 - have been appointed on compassionate basis.

Indian Bank posts Rs 1,708.85 crore net profit in Jan-March quarter

Indian Bank on Friday reported a net profit of Rs 1,708.85 crore in the March-ended quarter, it said in a regulatory filing.

The bank posted a net loss of Rs 217.74 crore in the same quarter of the preceding financial year 2019-20.

The bank said figures of March 31, 2020, are related to standalone Indian Bank financing for the pre-amalgamation period, hence not comparable with the post amalgamation financials of December 2020 and March 2021.

The erstwhile Allahabad Bank was amalgamated into Indian bank with effect from April 1, 2020.

For the full year of the financial year 2020-21, the net profit of the bank was recorded at Rs 3,004.68 crore.

(With Agency Inputs)