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.