New Delhi, Dec 27- Indian Overseas Bank (IOB) on Friday said it will get a fresh capital infusion of Rs. 4,360
In August, the finance ministry had announced a capital infusion of Rs. 3,800
"The Bank has received
Besides, the government has approved infusion of Rs. 2,142
Both the lenders are under the Prompt Corrective Action (PCA) framework of the Reserve Bank.
IOB has reported widening of net loss to Rs. 2,253.64 crore for the quarter ended Sep. 30, 2019.
The bank had registered a loss of Rs. 487.26
IOB's gross non-performing assets stood at 20 per cent (Rs. 28,673.95
Net NPAs during the quarter stood at 9.84 per cent as against 14.34 per cent in the year-ago period.
The Net NPA level is higher than the RBI's comfortability level of 6 per cent.
The PCA framework kicks in when the banks breach any of the three key regulatory trigger
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