Epic Research

Monday, May 6, 2013

Epic Update : Indian Overseas Bank

Epic Update Indian Overseas BankIndian Overseas Bank (IOB), the public sector bank, has set a target to recover Rs 2,500 crore from bad loans in FY2014, against Rs 1,700 crore recovered in FY2013. The bank has given its branch managers power to enter into one-time settlement with borrowers, whose loan outstanding is up to Rs 5 lakh. In order to make recoveries the bank is also organising camps (loan recovery) and resorting to Lok Adalats.

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