As part of the Bank's Business plan to widen Credit Growth and funding towards Infrastructure Development across the nation, Indian Overseas Bank has sanctioned a loan of Rs. 1,000 crore (of which amount disbursed is Rs. 500 crore) to Jammu and Kashmir Infrastructure Development Finance Corporation (JKIDFC) guaranteed by Union Territory of J&K, towards part funding for completion of the languishing infrastructure projects in J&K and other new infrastructure projects which are a priority for the state.
Indian Overseas Bank is one of the First Public Sector Banks to lend to Jammu and Kashmir Infrastructure Development Finance Corporation, which is incorporated to complete various projects belonging to various departments like Agriculture Production, Animal Husbandry, Housing & Urban Development, Industries & Commerce Department, Jal Shakti Department, Public Works Department, School Education Department etc.
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.
