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Puduvai Bharathiar Grama Bank sponsored by Indian Bank was established on 26.3.08 by Government of India vide Ministry of Finance notification no.1/16/2007-RRB (i) dated 26.3.08.  The bank was inaugurated by  Mr. P. Chidambaram, Hon`ble Union Minister of Finance on 01.6.2008.  Sri.V. Narayanasamy, Hon`ble Minister of State for Parliamentary affairs, Sri. N. Rangasamy, Hon`ble Chief Minister of Union Territory of Puducherry and Dr.M.. Ramadoss, Member of Parliament, Puducherry and Sri. M.S. Sundara Rajan, Chairman & Managing Director of Indian Bank and Sri. A.S. Subramanian, Executive Director of Indian Bank were among other dignitaries who took part in inaugural function.


The bank has been given scheduled status by Reserve Bank of India vide notification No.RPCD.CO.RRB.NO.10410/03.05.344/07-08 dated 03.04.08. 


The entire Union Territory of Puducherry covering all the four regions viz Puducherry, Karaikal, Mahe & Yanam comes under the operational area of the Bank.


The authorized capital of the Bank is Rs.2000 crores and paid up capital is Rs.13.5 crores shared as follows:
Government of India              50%     -           Rs.6.75 Crores
Indian Bank                            35%     -           Rs.4.725 Crores
Government of Puducherry    15%     -           Rs.2.025 Crores