Modi 2.0 government hikes Indian Overseas Bank authorised capital by Rs 5,000 crore
The Central Government, after consultation with Reserve Bank of India, has increased the authorised capital of the Bank by Rs 5,000 crore from Rs 10,000 crore to Rs 15,000 crore through Gazette Notification.
Move will enable the Bank to take steps to shore up its capital adequacy by way of issue of share capital including in case of further capital infusion by the Government. Photo: Reuters