Intraday on Tuesday, Indian Bank share price dipped 4 per cent at Rs. 219.95. After demonetization, Indian Bank met the payment needs of customers in 2.11 crore transactions having an aggregate amount of Rs 10,986 crore. Furthermore, 1.17 crore transactions accepting deposits of Rs 29,115 crore were done till December 16. . Using the services of banking correspondents, 22.69 lakh transactions were carried out during this period.
Re-calibration of about 99 per cent of the CAPEX ATMs and 70 per cent of OPEX ATMs in the Indian Bank has been executed in a relatively quick span of time. Many of the ATMs were made to dispense cash 24X7, with one of such ATM recording a peak hit of 2062 withdrawals on one of the days in this period.
Apart from extending service beyond the normal working hours on many days and also on two consecutive holidays, special counters were opened for senior citizens, women with small children, pensioners and farmers. It conducted 4,973 Special Camps in which about 96,000 accounts were opened. Around 13 lakh non-customers were enabled to exchange Specified Bank Notes valuing Rs 456 crore.
The bank has put in the plan of action for positioning itself as a 'Digital Bank' and the efforts of the bank were escalated in the post-demonetization period which is evidenced by an increase in digital transactions by 94 per cent since November 9, 2016.
The bank has exchanged Rs 456.39 crore from 13.08 lakh customers.Indian Bank share price touched the day’s high and low at Rs. 232 and Rs. 219.10, respectively. Indian Bank is a multibagger stock for this quarter as recognized by Dynamic Levels, based on their technical and fundamental research, it is seen to have traded in very high volumes. Multibagger stocks have a great potential to grow in the long run. For further details on the stock, refer to Indian Bank share price history.
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