Page 2 - Indian Overeas Bank
IOB puts Jai Balaji Industries' Rs 187-cr NPA account up for sale
The bank said this is the first lot of non-performing asset accounts to be sold during the ongoing quarter of the current financial year.
 "IOB puts Jai Balaji Industries' Rs 187-cr NPA account up for sale")
Indian Overseas Bank to issue 182 million shares under ESPS scheme
The lender said that the issue price, including premium, is determined by the committee of directors
Government infuses Rs 1,100 cr capital into Indian Overseas Bank
Chennai-based Indian Overseas Bank (IOB), which has been going through tough time due to increasing NPAs, to get Rs 1,100 crore from the Government of India, which is the major shareholder in the Bank. The development comes after the Government has achieved the parameters set by the Government to turn around the back.Sources in the Bank said that the Ministry of Finance has communicated to that the bank that Rs 1,100 crore has been allocated to the Bank as part of turnaround linked capital infusion plan. It may be noted, the Bank was expecting around Rs 1550 crore from the Centre, but the amount was reduced since the capital was redistributed to IDBI.The Government has acknowledged that the Bank is taking right steps and put in place right strategies to turnaround the Bank, that is why they have allocated the additional capital, said an official from the Bank.IOB's net loss in 2015-2016 was Rs 2,897.33 crore. Net loss during the nine months period ended December 31, 2016 was Rs ...
 "Government infuses Rs 1,100 cr capital into Indian Overseas Bank")
