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Tag: Iob

GoM May Consider Privatisation Of IOB, Central Bank This Year

Inching closer to privatisation of two public sector banks, a high-level panel of secretaries headed by Cabinet secretary is believed to have zeroed in on Central Bank and Indian Overseas Bank as possible candidates for sell-off this year.

Allahabad Bank, UCO Bank, IOB Get Rs 8,655 Cr Fund Infusion

New Delhi: Three loss-making PSU Banks — Allahabad Bank, Indian Overseas Bank and UCO Bank – have got Rs 8,655 crore fresh capital infusion from the government. The Finance Ministry has approved infusing fresh capital amounting to Rs 2,153 crore in the Allahabad Bank, Rs 2,142 crore in the UCO Bank and Rs 4,360 crore […]

RBI imposes penalty of Rs 3 cr on Axis Bank

Mumbai: The Reserve Bank of India (RBI) has imposed a penalty of Rs 3 crore on private sector Axis Bank for violation of non-performing asset (NPA) classification norms, and Rs 2 crore on state-run Indian Overseas Bank (IOB) for not complying with the Know Your Customer (KYC) regulations, the banking regulator said on Monday. A […]

Woman Director Of Real Estate Firm Arrested For Rs 7.31 Crore Fraud
EOW arrests IOB DGM for Rs 1.8 cr loan fraud

Bhubaneswar: The Economic Offences Wing (EOW) today arrested Deputy General Manager (DGM) of India Overseas Bank (IOB) on charges sanctioning loans to the tune of Rs 1.8 crore with help of fake documents. The accused has been identified as a Bimbhadhara Swain who reportedly served as branch manager in 2010 at an IOB branch located […]