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Indian Overseas Bank

10 Jan 2023

Indian Overseas Bank hikes MCLR rates from today, check latest rates here

Indian Overseas Bank said that Interest Rate of Loans for Overnight Tenor MCLR and One Month MCLR Shall be Sanctioned Only by the Top Management at Central Office. It also further clarified that Discretion to Sanction Overnight and One Month MCLR is not Available with Any Other Functionaries.

13 Apr 2022

FD investors, ALERT! Bank slashes fixed deposit interest rates by 0.40%

IOB's decision has come at a time when most banks are increasing interest rates offered on term deposits. Investors will now earn interest at a 3 per cent rate on FDs maturing between 7 to 45 days. FD investments with a maturity period of 46 to 90 days will now fetch returns at 3.50 per cent.

Indian Overseas Bank

25 Feb 2022

Govt appoints Vivek Aggarwal as RBI nominee director in Indian Overseas Bank

The government, vide notification dated February 25, has appointed Vivek Aggarwal, as an RBI nominee director in Indian Overseas Bank.

22 Jul 2021

Planning to buy property? Here’s how you can purchase house for cheap

All potential investors will have to create their accounts on the bank’s website. You have to verify your details with your mobile number and email-id. Bidders will have also to comply with the KYC norms of the bank.

05 Mar 2018

RBI slaps penalty of Rs 3 crore on Axis Bank, 2 crore on Indian Overseas Bank

Axis Bank attracted fine for flouting NPA norms and state-run Indian Overseas Bank for KYC breach.

Indian Overseas Bank

29 Jul 2017

IOB goes live with Bharat Bill Payment system

BBPS is an integrated bill payment system that offers inter-operable online bill payments to customers.

07 Apr 2016

IOB to sell 'Indian Gold Coin' on Gudi Padwa in Mumbai

The Indian Overseas Bank (IOB) will sell the 'Indian Gold Coin' at its branches in the city tomorrow on the occasion of 'Gudi Padwa'.

Indian Overseas Bank

25 Mar 2016

IOB starts distribution of Indian Gold Coins

State-owned Indian Overseas Bank (IOB) has become the first lender to start distribution of recently launched Indian Gold Coins (IGC)

Indian Overseas Bank

31 Oct 2015

Indian Overseas Bank Q2 net loss widens to Rs 550.83 crore

Public sector lender Indian Overseas Bank on Saturday reported a net loss of Rs 550.83 crore for the second quarter ending September 30, 2015.

Indian Overseas Bank

08 May 2015

Indian Overseas Bank Q4 profit plunges 87%

Indian Overseas Bank sufferd net loss for the financial year to end-March at Rs 454.33 cr.

03 Mar 2015

Moody's downgrade Central Bank, IOB on low govt funding

Rating agency Moody's Tuesday downgraded state-run lenders Central Bank of India and Indian Overseas Bank's local and foreign currency deposit ratings, anticipating low level of support from the government to these banks.

19 Feb 2015

Apollo Munich ties up with IOB for customised product offering

Apollo Munich will offer customized products with sum insured ranging from Rs 3 lakh to Rs 10 lakh to IOB's customers, it said.

Indian Overseas Bank

31 Jan 2015

IOB to raise Rs 1000 cr to augment additional Tier-1 capital

Public sector Indian Overseas Bank plans to raise Rs 1,000 crore to augment the additional Tier-I capital and also to strengthen its overall capital.

26 Dec 2014

CBI chargesheets IOB branch manager for cheating bank

The CBI has filed a charge sheet against a Gujarat-based branch manager of Indian Overseas Bank (IOB) and three others for allegedly cheating the bank to the tune of Rs 2.5 crore.

26 Nov 2014

Moody's cuts IOB financial strength rating on higher bad loans

The Chennai-headquartered bank reported a sharp increase in gross non performing assets at 7.35 percent for September quarter as against 5.84 percent in the year-ago period.

30 Jul 2014

IOB to raise $500 million through overseas bond sale

The bank has already received approval to raise up to USD 1 billion from its board.

Indian Overseas Bank

26 Jul 2014

Indian Overseas Bank Q1 Net zooms over 2-fold to Rs 271.72 crore

Public sector Indian Overseas Bank has reported over two-fold jump in net profit for the first quarter ended June 30, 2014 at Rs 271.72 crore.

12 Jun 2014

IOB seeks Rs 3,500 crore capital support from govt

The bank has also requested Ministry of Finance for the dilution of their shareholding in the bank.

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