Money & Banking

Central Government raises India Overseas Bank's authorised capital to Rs 25,000 crore

PTI New Delhi | Updated on January 10, 2020 Published on January 10, 2020

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Indian Overseas Bank (IOB) on Friday said the Central Government has increased its authorised capital by Rs 10,000 crore to Rs 25,000 crore.

The Centre after consultation with the Reserve Bank of India (RBI) has increased the authorised capital of the bank from Rs 15,000 crore to Rs 25,000 crore, it said in a regulatory filing.

Shares of the bank were trading at Rs 11.30 apiece on the Bombay Stock Exchange (BSE).

Published on January 10, 2020
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