The RBI report dated April 22, 1997, shows that between 1991 and 1996, Indian Bank blatantly ignored RBI guidelines and sank over Rs 10 crore in sponsoring events and donations to private individuals, trusts and institutes.
- On August 1, 1992, Gopalakrishnan donated Rs 3.5 lakh to his alma mater, Pachaiyappa College, Chennai. Purpose? Provision of tables and chairs for the college (where MVR also studied).
- On July 1, 1992, Gopalakrishnan sponsored a nameplate outside the then Tamil Nadu director-general of police Sripal's office. The cost: Rs 90,000.
In 1995, the deputy commissioner (traffic), Tamil Nadu police, was given Rs 2 lakh for furnishing his conference hall.