Indian Bank Q4 profit drops 59% to Rs 1.3 bn on higher NPA provisioning

Lender takes 41 accounts to NCLT, hopes to recover Rs 20 billion

Indian Bank is planning to raise around Rs 30 billion capital to support its growth during 2018-19. The capital would help the lender to reach a total book size of Rs 4.25 trillion from Rs 3.71 trillion.

The bank will look at QIP and rights issues during the current fiscal to support the target, Kishor Kharat, Managing Director and CEO, Indian Bank told Business Standard in an interview. He added, the government may not pump in capital into the bank as it has to bring down its stake to 70 per cent from 82.87 per cent.

Meanwhile the bank's fourth