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Government raises authorised capital of Indian Overseas Bank to Rs 25,000 crore

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indian overseas bank, iob capital, iob, banking newsShares of the bank were trading at Rs 11.30 apiece on the BSE. (Reuters)

Indian Overseas Bank on Friday said the 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 has increased the authorised capital of the bank from Rs 15,000 crore to Rs Rs 25,000 crore, it said in a regulatory filing.

Shares of the bank were trading at Rs 11.30 apiece on the BSE.

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