RBI gives huge relief to this bank after 6 years

Investors in the Indian Overseas Bank stock market seem to be benefiting. The bank’s share in the stock market has risen by more than 12 per cent.

Share price of Indian Overseas Bank An increase of about 13 per cent to Rs 23.10 Is at the level of Let me tell you that on June 30, the bank’s stock had touched a high of Rs 29. At present, the company has a market capitalization of Rs 43,664.57 crore.

The RBI said that Indian Overseas Bank has improved various criteria and has given a written assurance that it will adhere to minimum capital norms. According to the Reserve Bank, after reviewing the IOB’s performance, the Financial Supervision Board, based on the publication of financial results for 2020-21, found that the bank was not violating the PCA rules.

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