Current context: Public sector Indian Overseas Bank (IOB) has received a capital infusion of Rs 4,360 crore from the government on 4th Jan 2020.
a. Mumbai
b. Chennai
c. New Delhi
d. Bangalore
- The bank has received the amount as contribution of the government in preferential allotment of equity shares during the financial year 2019-20 as government's investment.
- The Finance Ministry had announced capital infusion of Rs 3,800 crore on August 2019, which was later increased by Rs 5600 crore.
- IOB is under the Prompt Corrective Action framework of the RBI.
- A net loss of Rs 2,253.64 crore of the bank was reported for the quarter ending 30th September 2019.
- The Prompt Corrective Action framework comes into force when banks breach the three key regulatory points namely i) capital to risk weighted assets ratio ii) net non-performing assets and iii) return on assets.
- IOB Bank Headquarters: Chennai
- CEO: Shri Karnam Sekar (1st Jul 2019 till present)
- Founder: M. Ct. M. Chidambaram Chettyar
- Tagline: “Good people to grow with”
Question:
Q.1 The Headquarter of the public sector “Indian overseas bank” is at?a. Mumbai
b. Chennai
c. New Delhi
d. Bangalore
