indian overseas bank

Inflation to be high till fiscal consolidation is complete: Experts


September 17th, 2012 - 11:23 pm ICT by IANS
Chennai, Sep 17 (IANS) The Reserve Bank of India (RBI) has decided to wait till the effects of current fiscal consolidation is complete before tweaking the policy rates, a top ... Read more...

Posted in Business |

MCC-Murugappa Hockey: BPCL, Air India enter semis


September 14th, 2012 - 12:17 am ICT by IANS
Chennai, Sep 13 (IANS) Bharat Petroleum Corporation Ltd (BPCL) and Air India completed the semi-final line-up in the 87th All-India MCC-Murugappa Gold Cup hockey tournament in contrasting styles here Thursday.BPCL ... Read more...

Posted in Sports |

Reliance Capital ties up with Indian Overseas Bank


September 13th, 2012 - 6:00 pm ICT by IANS
Chennai, Sep 13 (IANS) Reliance Capital Asset Management, a unit of Anil Ambani-led Reliance Capital, said Thursday it has entered into distribution tie-up with the public sector lender Indian Overseas ... Read more...

Posted in Business |

MCC-Murugappa Hockey: Army XI draw with ONGC


September 11th, 2012 - 12:20 am ICT by IANS
Chennai, S Sep 10 (IANS) Holders Oil and Natural Gas Corp (ONGC)dropped precious points as they drew 1-1 with Army XI in a pool A match of the 87th MCC ... Read more...

Posted in Sports |

MCC-Murgappa Hockey: Amir Khan’s hat-trick sees BPCL drub IOB


September 8th, 2012 - 9:49 pm ICT by IANS
Chennai, Sep 8 (IANS) Amir Khan notched a hat-trick to star in BPCL's 4-0 win over Indian Overseas Bank in a Group A fixture for their second successive success in ... Read more...

Posted in Sports |

Ten teams for Murugappa hockey


September 5th, 2012 - 2:25 pm ICT by IANS
Chennai, Sep 5 (IANS) Ten teams, including holders ONGC, will take part in the 87th All-India MCC Murugappa Gold Cup hockey tournament commencing here Thursday.According to organising secretary Sanjay Gulvady, ... Read more...

Posted in Sports |

Public sector banks to disburse Rs.6 lakh crore farm loans: Chidambaram


August 25th, 2012 - 11:53 pm ICT by IANS
Karaikudi (Tamil Nadu), Aug 25 (IANS) Government-owned banks have a target to disburse agriculturale loan to the tune of Rs.600,000 crore during the current fiscal - Rs.25,000 crore higher than ... Read more...

Posted in Politics |

IOB plans to raise $500 mn through MTN issue


July 19th, 2012 - 9:04 pm ICT by IANS
Kolkata, July 19 (IANS) State-run Indian Overseas Bank (IOB) is planning to raise $500 million through the issue of medium term notes (MTNs) in 3-6 months, Chairman and Managing Director ... Read more...

Posted in Business |

Micro finance institutions: RBI concerned on monitoring deficiences


July 5th, 2012 - 5:43 am ICT by IANS
Chennai, July 4 (IANS) The Reserve Bank of India (RBI) is the regulator for micro finance institutions (MFIs) but there are concerns over whether it has the wherewithal to do ... Read more...

Posted in Business |

IOB targets 20 percent business growth in 2012-13


May 5th, 2012 - 10:07 pm ICT by IANS
Chennai, May 5 (IANS) The government-owned Indian Overseas Bank (IOB) hopes to log 20 percent growth in its total business (deposits plus advances) this fiscal while hoping to rein its ... Read more...

Posted in Business |

IOB mulls new core banking solution on Oracle platform


May 5th, 2012 - 8:58 pm ICT by IANS
Chennai, May 5 (IANS) Government-owned Indian Overseas Bank (IOB) will soon migrate to a new core banking solution (CBS) built on Oracle platform from its own CBS, a senior bank ... Read more...

Posted in Uncategorized |

S&P; lowers outlook on SBI, ICICI and HDFC Bank


April 25th, 2012 - 9:18 pm ICT by IANS
Mumbai, April 25 (IANS) Global ratings agency Standard & Poor's Wednesday cut its outlook to negative from stable on 11 financial institutions, including the top three banks State Bank ... Read more...

Posted in Business |

Bulk, retail deposit interest rates would go down first: Bankers


April 17th, 2012 - 9:00 pm ICT by IANS
Chennai, April 17 (IANS) Welcoming the Reserve Bank of India's (RBI) move to reduce the reverse purchase (repo) rate by 50 basis points and other features of the monetary policy ... Read more...

Posted in Business |

Police gun down five ‘robbers’ in Chennai (Third Lead)


February 23rd, 2012 - 9:30 pm ICT by IANS
Chennai, Feb 23 (IANS) Five men who allegedly robbed two banks were shot dead in a residential area here in a midnight gunbattle that also left two policemen wounded, police ... Read more...

Posted in Uncategorized |

Police gun down five robbers in Chennai (Second Lead)


February 23rd, 2012 - 4:06 pm ICT by IANS
Chennai, Feb 23 (IANS) Five young men who allegedly robbed a bank were shot dead in a residential locality here in a sensational midnight gunbattle which also left two policemen ... Read more...

Posted in Uncategorized |

Rs.1.4 million looted from a bank in Chennai


February 20th, 2012 - 8:06 pm ICT by IANS
Chennai, Feb 20 (IANS) A four-member gang looted a large amount of cash from a suburban branch of the Indian Overseas Bank (IOB) at gunpoint Monday afternoon, said police.According ... Read more...

Posted in Uncategorized |

RBI moves against fake currency deposit


February 15th, 2012 - 9:08 pm ICT by IANS
Lucknow, Feb 15 (IANS) The Reserve Bank of India (RBI) Wednesday filed an FIR against nine banks in Lucknow on charges of depositing counterfeit currency to its vault here.Shalini ... Read more...

Posted in Uncategorized |

IOB plans recovery of Rs.1,500 crore from sticky accounts (Lead)


January 28th, 2012 - 8:40 pm ICT by IANS
Chennai, Jan 28 (IANS) With its Q3 profits down by 53 percent due to restructuring of loan accounts and the resultant reduction in income, the government-owned Indian Overseas Bank (IOB) ... Read more...

Posted in Uncategorized |

IOB quarterly net profit declines 53 percent


January 28th, 2012 - 5:04 pm ICT by IANS
Mumbai, Jan 28 (IANS) Indian Overseas Bank (IOB) Saturday reported a massive 53 percent decline in net profit at Rs.108.27 crore for the quarter ended Dec 31, 2011, ... Read more...

Posted in Business |

RBI to act against banks not beefing up cyber security


January 27th, 2012 - 7:41 pm ICT by IANS
Chennai, Jan 27 (IANS) The Reserve Bank of India (RBI) will act against banks that do not implement its guidelines on electronic security of their transactions and operations by October ... Read more...

Posted in Sci-Tech |

Bankers to discuss cyber security


January 26th, 2012 - 8:06 pm ICT by IANS
Chennai, Jan 26 (IANS) Bankers and cyber experts will meet here Friday to discuss securing electronic banking transactions and improving customer convenience, an official said.The seminar 'Banking on e-Security - ... Read more...

Posted in Business |

Pranab asks banks to take belt tightening measures


January 6th, 2012 - 9:01 pm ICT by IANS
Chennai, Jan 6 (IANS) Finance Minister Pranab Mukherjee Friday asked Indian banks to scale down their advances to risky businesses to protect their asset quality."The non-performing assets ... Read more...

Posted in Business |

No tight monetary policy once inflation softens: Rangarajan


November 5th, 2011 - 11:02 pm ICT by IANS
Chennai, Nov 5 (IANS) The Reserve Bank of India (RBI) may reverse its tight monetary policies once inflation softens, said top economist C. Rangarajan Saturday."By December-January, the inflation would break ... Read more...

Posted in Business |

Indian Overseas Bank Q2 net profit rises to Rs.207.46 crore


October 29th, 2011 - 4:57 pm ICT by IANS
New Delhi, Oct 29 (IANS) The Indian Overseas Bank (IOB) Saturday posted a marginal increase in net profit to Rs.207.46 crore for the quarter ended Sep 30 as against Rs.206.15 ... Read more...

Posted in Business |

Indian Overseas Bank hikes base rate


July 30th, 2011 - 4:56 pm ICT by IANS
Mumbai, July 30 (IANS) Indian Overseas Bank Saturday said it has revised its base rate from 10.25 percent to 10.75 percent in response to the Reserve Bank of India's 50 ... Read more...

Posted in Uncategorized |

Indian Overseas Bank raises lending rate


July 1st, 2011 - 9:25 pm ICT by IANS
Mumbai, July 1 (IANS) State-owned Indian Overseas Bank Friday raised its benchmark prime lending rate by 25 basis points in response to the monetary tightening measures taken by the Reserve ... Read more...

Posted in Business |

Indian Overseas Bank picks consultant for software arm


May 25th, 2011 - 7:23 pm ICT by IANS
Chennai, May 25 (IANS) Moving ahead with its plans to float a banking software subsidiary, the city-based Indian Overseas Bank (IOB) has short-listed consultancy firm Ernst and Young to assist ... Read more...

Posted in Business |

IOB planning to raise $350 mn through MTNs


May 10th, 2011 - 6:58 pm ICT by IANS
Kolkata, May 10 (IANS) Public sector Indian Overseas Bank (IOB) is planning to raise $350 million through medium term notes (MTNs) in the next three to six months, a top ... Read more...

Posted in Business |

IOB eyes Rs.2.5 lakh crore business


February 6th, 2011 - 2:08 pm ICT by IANS
Raghunathganj (West Bengal), Feb 6 (IANS) The Indian Overseas Bank hopes to increase its business volume to Rs.2.50 lakh crore by March 2011."We are targeting Rs.2.50 lakh crore business by March. Now, ... Read more...

Posted in Business |

Pranab calls for private-public partnership in insurance


February 6th, 2011 - 12:01 am ICT by IANS
Ragunathganj (West Bengal), Feb 5 (IANS) Union Finance Minister Pranab Mukherjee Saturday advocated public-private partnership in the insurance sector to bring more people under its cover."In our country, the total number ... Read more...

Posted in Business |

Delhi cop suspended after vigilance report


January 18th, 2011 - 11:23 pm ICT by IANS
New Delhi, Jan 18 (IANS) A station house officer (SHO), who was Sunday transferred to the police lines for squabbling over the jurisdiction of a robbery case, was Tuesday suspended after the ... Read more...

Posted in Uncategorized |

Delhi cop transferred for refusing to file complaint


January 16th, 2011 - 8:53 pm ICT by IANS
New Delhi, Jan 16 (IANS) Squabbling over the jurisdiction of a robbery case proved costly for a station house officer (SHO), who was Sunday transferred to the police lines.Kailash Kukreti, SHO of ... Read more...

Posted in Uncategorized |

Union Bank hikes lending rate by 50 bps


December 27th, 2010 - 5:17 pm ICT by IANS
Mumbai, Dec 27 (IANS) The government-run Union Bank of India Monday raised the base rate, the minimum rate at which banks lend, by 50 basis points (bps) to 9 percent, in line ... Read more...

Posted in Business |

Indian Overseas Bank to float software subsidiary


November 11th, 2010 - 4:35 pm ICT by IANS
Chennai, Nov 11 (IANS) City-based Indian Overseas Bank (IOB) plans to float a banking software subsidiary to tap the Asian and African markets, the bank's top official said Thursday."Our core banking ... Read more...

Posted in Business |

Union Bank raises base rate by 50 bps to 8.5 percent


October 15th, 2010 - 7:19 pm ICT by IANS
New Delhi, Oct 15 (IANS) Public sector lender Union Bank of India said Friday it will increase its base rate by 50 basis points (bps) to 8.5 percent and deposit rates by ... Read more...

Posted in Business |

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