IOB to get Rs.1,100­crore capital infusion

Posted on:24 Mar 2017 09:30:47
IOB to get Rs.1,100­crore capital infusion
24 March 2017 Current Affairs: Chennai Based Indian Overseas Bank (IOB) will get Rs 1,100 crore capital infusion from the Government 

This was confirmed by Finance Ministry on March 22, 2017.

This was approved after the bank achieved the parameters set by the government as part of a turnaround linked capital infusion plan.

It was the second tranche of capital infusion in public sector banks to enhance their capital base while the first tranche was first announced in July, 2016. 
Chennai Based Indian Overseas Bank (IOB) will get Rs 1,100 crore capital infusion from the Government 

This was confirmed by Finance Ministry on March 22, 2017.

This was approved after the bank achieved the parameters set by the government as part of a turnaround linked capital infusion plan.

It was the second tranche of capital infusion in public sector banks to enhance their capital base while the first tranche was first announced in July, 2016. 

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