Indian Overseas Bank has received an approval for the issue of equity shares by bank on preferential basis to Government of India for the capital infusion of Rs 4360 crore received during FY 2019-20. The Board of the Bank at its meeting held on January 21, 2020, approved the same.
Indian Overseas Bank is a pioneer in many fields - Banking, Insurance and Industry with the twin objectives of specialising in foreign exchange business and overseas banking.