Public sector lender, Indian Bank has decided to go for revival of its loss making subsidiaries. The bank has recently tied up with TVS motors for vehicle finance.

The CMD of the bank, TM Bhasin has said that the bank would be taking up a stake in Ind Fund Management. The main motive behind the step would be to revive the Indbank Merchant Banking, said Bhasin.

According to Mr V. Ramagopal, Executive Director, Indian Bank, the lender may also move towards merging Indbank Housing with itself.

He said all housing loans of Indbank Housing have been stopped with only collection taking place being of previous mortgage payments.