The Economic Times, 10 May 2011The Monetary Authority of Singapore has relaxed the asset maintenance ratio (AMR) for Indian Bank to 50% from 90% earlier, providing it more breathing space in terms of lending. Indian Bank, which is present in the country for the past 70 years, has an outstanding loan book of 6,000 crore.
"It is a reward for our good performance consistently for the past three years. We received a letter from them last week," Indian bank chairman and MD TM Bhasin told ET. Full story
