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Indian Overseas Bank News
Indian Overseas Bank
RBI fines Axis for under-reporting NPAs, IOB for KYC lapse
Tue, Mar 06, 2018
The Rs 12,636 crore fraud at Punjab National Bank (PNB) is forcing Reserve Bank of India (RBI) to swing into action.
RBI cracks down against Axis Bank, Indian Overseas Bank, imposes hefty monetary penalty
Mon, Mar 05, 2018
RBI has imposed a Rs 3 crore penalty on Axis Bank, while on Indian Overseas Bank faces Rs 2 crore fine.
RBI puts Bank of India under watch; initiates 'corrective action'
Wed, Dec 20, 2017
In a filing to stock exchanges, BoI said Reserve Bank of India has placed it under Prompt Corrective Action Framework, consequent to the onsite inspection under the risk based supervision model carried out for the year ended March 2017.
Indian Overseas Bank goes live with Bharat Bill Payment system
Sat, Jul 29, 2017
BBPS is an integrated bill payment system that offers inter-operable online bill payments to customers.
IDBI to establish exclusive vertical for NPA recovery
Tue, Jun 13, 2017
Apart from creating this NPA recovery vertical, the bank management has formed a 'Credit Monitoring Group' to find out potential NPAs based on early warning signals, said Deputy Managing Director of IDBI Bank, G M Yadwadkar.
Prompt Corrective Action doesn't constraint bank's normal operations: RBI
Tue, Jun 06, 2017
The RBI today said its prompt corrective action (PCA), initiated in case of some public sector banks with high NPAs, is a supervision tool and does not constrain normal banking operations for the public.
RBI initiates 'Prompt Corrective Action' against UCO Bank on high bad loans, negative return on assets
Sun, May 14, 2017
The Reserve Bank of India (RBI) has initiated a 'Prompt Corrective Action' against UCO Bank on account of the bank's increasing bad loans and negative return on assets.
Russian Rosneft's $12.9 billion Essar Oil deal held up over debt issues
Thu, May 11, 2017
Sources said some lenders might be seeking to gain concessions on other debt with Essar units before giving their approval.
PSU Banks Rejig: Govt appoints heads of 7 banks; shifts MDs of Punjab National Bank, Bank of India
Sat, May 06, 2017
In a major restructuring of PSU banks, the government on Saturday has appointed heads of seven public sector unit (PSU) banks and carried out rejigs at Punjab National Bank (PNB) and Bank of India (BOI).
Tamil Nadu man deposits Rs 246 crore in old currency, to pay 45% tax under PMGKY
Mon, Mar 27, 2017
Under the PMGKY scheme, out of the total amount deposited 50% of the amount is taxed and 25% of the amount is kept with the government or Reserve Bank of India as non-interest bond for four year.
NCDRC asks bank to pay Rs 50,000 for delay in processing cheque
Sun, Jan 15, 2017
Indian Overseas Bank has been asked to pay Rs 50,000 by the apex consumer commission to a man for delaying the crediting of a cheque amount of Rs 24,652.82 into his account.
Indian Overseas Bank posts Rs 939 crore loss for January-March quarter
Fri, May 27, 2016
Indian Overseas Bank said the Board of Directors in a meeting held today has approved to raise Rs 4,000 crore by issuing bonds.
Banks Board Bureau chief says it's time for mergers
Tue, May 24, 2016
Reserve Bank of India Governor Raghuram Rajan has set a deadline of March 2017 to clean up the sector.