Indian Overseas Bank

Indian Overseas Bank launches an healthcare insurance policy in collaboration with Universal Sompo General Insurance Company Ltd

October 28, 2019

Public sector Indian Overseas Bank unveiled a healthcare insurance policy through online platform in association with Universal Sompo General Insurance Company Ltd. The policy offered on real time basis to customers at the branches of Indian Overseas Bank through integration ..

Merger of Public Sector Banks

August 31, 2019

The government has unveiled a mega plan to merge 10 public sector banks into four as part of plans to create fewer and stronger global-sized lenders. Proposed Merger Punjab National Bank, Oriental Bank of Commerce and United Bank of India will combine ..

Karnam Sekar appointed as new MD and CEO of Indian Overseas Banks

April 26, 2019

Dena Bank’s former Managing Director Karnam Sekar has been appointed as the new Managing Director (MD) and Chief Executive Officer (CEO) of Indian Overseas Bank.  He would take up the position from 1st July, 2019. He has been working as ..

EASE Index Report

March 2, 2019

The BCG-IBA report EASE Reforms for Public Sector Banks measures the performance of each PSB on 140 objective metrics across 6 themes. The 6 themes are: Customer Responsiveness: EASE for customer comfort Responsible Banking: Financial stability, governance for ensuring outcomes, ..

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RBI Removes three Banks from PCA Framework

February 28, 2019

The Reserve Bank of India (RBI) has removed three banks, Dhanlaxmi Bank, Allahabad Bank and Corporation Bank from the PCA framework by moving them out of its weak-bank watchlist. Basis for the decision of RBI The government has infused fresh ..

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Capital Infusion of Rs. 48,239 Crore into 12 State-Run Banks

February 21, 2019

The government has approved the capital infusion of Rs. 48,239 Crore into 12 State-Run Banks. The capital inclusion has been undertaken to ensure the lenders are able to maintain regulatory capital requirement and step up lending and boost overall growth. With ..

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Relaxation of Norms under PCA Framework

January 16, 2019

It is said that the finance ministry and the Reserve Bank of India are working on providing some relaxation on the prompt corrective action (PCA) framework for stressed banks. Prompt Corrective Action (PCA) Framework Prompt Corrective Action (PCA) framework has been issued ..

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Public Sector Banks in India

November 27, 2018

Public Sector Banks in India refers to those banks in which the Government equity / shareholding is more than 50%. At present, there are 22 Public Sector Banks in India of which 21 are scheduled commercial banks while one viz. ..

IOB signs pact with National Housing Bank for Rural Housing Interest Subsidy Scheme scheme

January 25, 2018

The Indian Overseas Bank (IOB) has recently signed a MoU with National Housing Bank (NHB) for implementing the Rural Housing Interest Subsidy Scheme (RHISS) of the Union Ministry of Rural Development (MoRD). The purpose of the RHISS is to provide ..

Current Affairs: Top Headlines September 6, 2013

September 6, 2013

Iran to set free Indian tanker after 24 days of detention Iran ordered release of an Indian tanker detained by it for the past 24 days at its Bandar Abbas port after being seized in Persian Gulf while carrying crude ..

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