### **Executive Summary** Indian Bank has undergone a transformative digital evolution since 2022, strategically positioning itself as a leader in India’s next-generation public sector banking landscape. Under the umbrella of **‘Project WAVE’ (World of Advanced Virtual Experience)**, the bank has achieved exponential growth in digital adoption, asset-led digital lending, and technological innovation—particularly within the MSME, agriculture, and retail segments. As of November 2025, Indian Bank is scaling digital customer experiences, enhancing financial inclusion through fintech partnerships, and building robust infrastructure for AI, data analytics, and automated banking services. --- ## **Key Strategic Highlights (Jul 2025 – Oct 2025)** ### **1. Digital Business Milestones** - **Digital business volume** surged to **₹1.67 lakh crore** in FY25 (up from ₹5,640 crore in FY22), with projections to reach **₹2.25 lakh crore by FY26**. - In **October 2025 alone**, the bank processed **₹1.24 lakh crore in digital business**, marking a **59% YoY increase**. - **Digital loan disbursements** (Oct 2025): - **Jewel Loans**: ₹33,769 crore (+1.6x YoY) - **Home Loans**: 2.2x growth - **Vehicle Loans**: 2.1x growth - **Agri Loans**: 1.6x growth - **MSME Loans**: 1.4x growth - Retail jewel loan volumes under digital platforms have grown **6x YoY** to ₹9,632 crore (May 2025), up from a low base of ₹57 crore in Q1 FY23. ### **2. Omnichannel Digital Platforms & Apps** - **IndSMART App**, launched in June 2024: - Over **1.94 crore users** (as of Jul 2025) - Offers **280+ features**, maintains 4.3–4.4-star rating - Onboards 77 lakh customers within months; 30+ new features planned - Lighter version released to promote **UPI usage on owned platform** instead of third-party apps - **INDUPI App** launched: modeled after Paytm/Google Pay, enhancing customer engagement and reducing long-term operational costs. - **Corporate Mobile Banking**: launched in Mar 2025, now serving 2,200 customers via the omnichannel platform. ### **3. Digital Banking & Virtual Expansion** - Launched **VBX (Virtual Banking Experience)** platform targeting **1 crore branch-averse customers**, offering tiered digital services and the **Spark Debit Card** in partnership with Mastercard and RuPay. - Benefits: Unlimited lounge access, OTT subscriptions, travel/lifestyle perks - Introduced **Android-based ATMs** and **Virtual ATM** to expand digital access beyond physical infrastructure. - Deployed **132 digital customer journey workflows** to enhance service efficiency and experience. ### **4. Fintech & Ecosystem Partnerships** - Expanded **fintech partner network to 167** firms (from 130 in 2024), supporting: - Digital lending - Payments (UPI, e-Rupi, FASTag, CBDC) - Government services (municipal tax, SNA/CESS collections, housing societies, religious institutions) - **New FASTag system** launched in collaboration with a fintech firm. - Partnered with **MCX** to provide **E-TDR (Electronic Transfer Debit Receipt)** facility for brokers. - Launched **UPI QR Soundbox** with **T+0 settlement** for instant reconciliation—empowering merchant payments. ### **5. AI, Automation & Data Infrastructure** - Leveraging **AI and Generative AI**: - Internal **Knowledge Engine** for employee support (launched in CUG) - Developing **AI-powered Agentic collections & recovery agent** - Agentic AI deployed to manage SMA accounts and reduce slippages - CRM platform under implementation for personalized banking. - **Data Lake infrastructure in development** to integrate siloed systems and enable seamless customer experiences. - **Voice biometric transaction authenticator** under development for mobile app. - Robo-advisory platforms being built to deliver **digital wealth management** services. ### **6. MSME & Agriculture Digitization** - **MSME segment digital adoption** increased from **45% to 57%** in 4 months (Jul–Nov 2025). - **Digital MSME loans**: - Disbursed ₹7,355 crore in FY25 (+2x YoY) - MSME Auto Renewal feature launched to streamline renewals - Launched a **dedicated MSME Customer App** and self-service loan application tools. - **13 new digital lending journeys** introduced for MSMEs. - **Digital Kisan Credit Cards (KCC)** rolled out in states with digitized land records. - **Aavin Milk & RBIH ULI collaboration**: Launched **"Milk Insights"**—digital service for dairy farmers in Tamil Nadu. ### **7. Branch & Rural Network Expansion** - Operates **5,901 branches**, **3,078 ATMs**, and **3,102 passbook kiosks** (as of Mar 2025). - Opened **51 new branches** in FY25; **119 planned** to boost CASA and customer onboarding. - Each new branch projected to generate ₹20–30 crore in annual business. - Strengthening financial inclusion: - **14,667 business correspondents (BCs)**—3,725 added in FY25 - 2,190 **Bank Mitra Centers (BNAs)** support rural access ### **8. Institutional & Corporate Banking Growth** - **Metro Corporate Banking (MCB)**: 27 branches handle **76% of large corporate business** - **Mid-corporate centers**: - 27 operational, delivering **25–30% annual growth** - 2 new centers added in **Erode & Namakkal (Tamil Nadu)**—industrial hubs - **Cash Management Services** launched for corporates (Aug 2025) - **Corporate Credit Assessment Automation** in development to improve risk management ### **9. Digital Liability & Deposits Growth** - **Digital liability business** grew: - **3x YoY** (May 2025: ₹18,680 crore) - 1.3x (Oct 2025), indicating sustained momentum - CASA ratio maintained at **42%**, driven by: - Institutional deposit schemes - Government relationships - Focus on **salary accounts**, low-cost deposits - **Digital account opening** up **133% YoY**, with **95% of new savings accounts** created digitally - **Digital transactions now at 92–93%** of total volume (from 78% in FY23) ### **10. Innovation in Public & Social Sector Banking** - Launched digital solutions for: - **IGIMS Hospital, Patna**: Cashless transaction card for patients - **Victoria Memorial Hall, Kolkata**: Online ticketing platform - **Chennai Metro**: **Singara Chennai Card** for integrated public transport - Launched **e-Bank Guarantees** to boost non-fund fee income - **PMJJBY portal** launched for Ministry of MSME to digitize insurance enrollment --- ## **Technology & Security Foundations** - **Cloud Migration**: Core systems now on **private/hybrid cloud** - **Middleware & APIs**: CBS APIs, open APIs support fintech integrations - **Unified Lending Interface (ULI)**: Facilitated **₹5,000 crore+ in business** - **Cyber Security Operations Center (C-SOC)**: Active threat monitoring (since Jul 2024) - **UPI enhancements** underway with NPCI: - Facial recognition for **PIN reset** - Biometric authentication for **payments up to ₹5,000** --- ## **Subsidiary & Operational Excellence** - Established **Indbank Global Support Services Limited (IGSSL)** in FY25: - Wholly owned subsidiary - Focus: backend operations, product sourcing, retail product marketing - Generated **₹1,765 crore** in initial quarter - IGSSL supports **loan collections**, **housing/vehicle loans**, and operational scalability --- ## **Training & Organizational Strength** - Trained **30,000 employees** in 2023–24 on business, digital tools, and soft skills - Established **Government Relationship Teams** in key cities (Delhi, Lucknow, Chennai, etc.) - Appointed **Regional GMs** for targeted liability management and CASA growth - **Change Management Office** established to support digital transitions --- ## **Credit Quality & Portfolio Trends** - **Credit Growth**: ~13% annually, evenly driven by retail (13%) and corporate (12%) - **Asset Quality**: - Gold & SHG loans: low delinquency, high profitability - MSME portfolio: low-risk assets emphasized - **Gold Loan Portfolio**: ₹70,000 crore (Nov 2023), ₹63,000–64,000 crore agriculture-linked - 650 dedicated **"Gold Shopspe" outlets** with digital processing - Loans disbursed in minutes; borrowers maintain **CASA accounts** - **SHG Lending**: - Portfolio: ₹14,000 crore, growing >40% YoY - Expanded into Bihar, Odisha, Rajasthan, West Bengal - 50 dedicated SHG branches; structured training and risk monitoring