Govt infused Rs 4,360 crore to IOB

Published on January 06, 2020
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.
Govt infused Rs 4,360 crore to IOB 
  • 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

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ramandeep singh

My name is Ramandeep Singh. I authored the Quantitative Aptitude Made Easy book. I have been providing online courses and free study material for RBI Grade B, NABARD Grade A, SEBI Grade A and Specialist Officer exams since 2013.

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