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RBI will have clearer picture post-budget: IOB CMD

Last Updated: Tuesday, June 03, 2014, 17:54

The Reserve Bank of India (RBI) will be better placed with economic data and the thinking of the new government by the next review of its monetary policy, said M. Narendra, chairman and managing director of Indian Overseas Bank.

IOB to raise Rs 400 cr by selling shares to LIC

Last Updated: Monday, February 10, 2014, 17:00

State-owned Indian Overseas Bank today said it plans to raise Rs 400 crore by selling shares on preferential basis to Life Insurance Corporation.

Sebi exempts govt from making open offer to IOB shareholders

Last Updated: Wednesday, December 18, 2013, 15:49

Once the government purchases these shares, its stake in IOB will rise by little over 5 percent to 79.01 percent.

Indian Overseas Bank to raise Rs 350 cr through QIP

Last Updated: Monday, December 16, 2013, 14:56

State-owned Indian Overseas Bank (IOB) on Monday said its board has approved to raise Rs 350 crore through Qualified Institutional Placement (QIP).

Indian Overseas Bank offers higher NRE term deposit rates

Last Updated: Saturday, November 23, 2013, 23:43

"Indian Overseas Bank has increased the interest rates under NRE Term Deposits for period of 3 years and above from 9.00 percent to 9.50 percent with effect from November 23", a bank statement said.

IOB net profits dips 16.3% to Rs 132.55 crore in 2Q

Last Updated: Friday, October 25, 2013, 15:13

Public sector Indian Overseas Bank has reported a 16.3 percent dip in its net profits for the second quarter ending September 30 at Rs 132.55 crore.

IOB slashes interest rates by 2% on consumer durable loans

Last Updated: Wednesday, October 09, 2013, 20:00

Public sector Indian Overseas Bank has slashed its interest rates on consumer durable loans by 200 basis points to 13.25 percent from 15.25 percent earlier with immediate effect.

Banking services restored at Indian Overseas Bank

Last Updated: Thursday, August 22, 2013, 18:34

Considered one of the largest public sector banks with 3,000 branches nationwide, the glitch "largely affected" transactions, hampering day-to-day operations, they said.

Finmin displeased at poor profit numbers of state-run banks

Last Updated: Sunday, May 26, 2013, 14:28

Driven by a higher provisioning, SBI's net for the March quarter plunged 18.5 percent at Rs 3,299.22 crore against Rs 4,050.27 crore in year-ago period.

Ramu Memorial: ONGC overcome IOB to win men`s title

Last Updated: Monday, April 22, 2013, 20:38

Star-studded ONGC overcame a slow start to get the better of Indian Overseas Bank in the men`s final of the 28th Ramu Memorial basketball tournament here.

Indian Overseas Bank hopes to meet 15% bulk deposit norm

Last Updated: Thursday, March 21, 2013, 20:31

Public sector Indian Overseas Bank (IOB) on Thursday said it is hopeful of reducing its bulk deposit level out of the total deposit to the mandated level of 15 percent by end of the current fiscal.

'Inflation should come to 3-5% for low interest regime'

Last Updated: Sunday, February 17, 2013, 12:15

"Inflation has been at a very high level and unless we bring down inflation to 3-5 percent, we cannot have a low interest regime," Indian Overseas Bank Chairman and Managing Director M Narendra said during an event here.