The Finance Ministry has given written assurance to Indian Overseas Bank (IOB) that its request for fresh capital infusion will be granted. The public sector lender had sought Rs 4,016 crore from the government to fund its business growth for a three-year period, beginning 2011-12.
M Narendra, the chairman and managing director of Indian Overseas Bank tells CNBC-TV18 that it has received assurance from the government to help it maintain Tier-I capital of 8% by March-end 2012. At present, IOB
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