South Indian Bank gets RBI nod for setting up non-financial subsidiary

South Indian Bank said that it has received a final approval from the Reserve Bank of India (RBI) for setting up of wholly-owned non-financial subsidiary.

South Indian Bank is a major private sector bank headquartered at Thrissur in Kerala, India. As on 21 Janury 2021, South Indian Bank had 878 branches, 50 extension counters and 1443 ATMs/ CRMs.

The bank reported a net loss of Rs 91.62 crore in Q3 FY21 as against a net profit of Rs 90.54 crore in Q3 FY20.

The scrip shed 1.07% to currently trade at Rs 8.31 on the BSE. It traded in the range of 8.30 and 8.50 so far during the day.

 

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