Govt okays Rs 1,100 crore capital infusion in Indian Overseas Bank
Wednesday, March 22, 2017, 10:52 PM
Indian Overseas Bank, today said it has received a communication from the Finance Ministry for a capital allocation of Rs 1,100 crore as part of turnaround linked capital infusion plan. The government has approved the second tranche of capital infusion in public sector banks to enhance their capital base. The first tranche was announced in July with the objective of enhancing their lending operations.