Share price of Indian Overseas Bank gained more than 12 per cent on Thursday, September 30, a day after the banking regulator Reserve Bank of India (RBI) removed the bank from the Prompt Corrective Action (PCA) Framework. Shares of Indian Overseas Bank were last trading 12.44 per cent at Rs 23.05 on the BSE.
Share price of Indian Overseas Bank gained more than 12 per cent on Thursday, September 30, a day after the banking regulator Reserve Bank of India (RBI) removed the bank from the Prompt Corrective Action (PCA) Framework. Shares of Indian Overseas Bank were last trading 12.44 per cent at Rs 23.05 on the BSE.
Indian Overseas Bank opened on the BSE at Rs 23.95, swinging to an intra day high of Rs 26.60 and an intra day low of Rs 22.50, in the trading session so far.
In a circular on Wednesday, the central bank said that the performance of Indian Overseas Bank was reviewed by the Board for Financial Supervision and it was noted that the bank is not in the breach of the PCA parameters, as per its published results for the year ended March 31, 2021.
The RBI added that the state-run lender provided a written commitment that it would comply with the norms of Minimum Regulatory Capital, net NPA (non-performing assets) and the leverage ratio on an ongoing basis.
The RBI also stated that the Indian Overseas Bank has apprised about the systemic and structural improvements. The central banking regulator had put Indian Overseas Bank under the PCA framework in October 2015.
On the NSE, Indian Overseas Bank opened at Rs 23.75, registering an intra day high of Rs 24.50 and an intra day low of Rs 22.50, in the session so far. It was last trading 12.96 per cent higher at Rs 23.10 on the NSE.
At 1:12 pm, the BSE Sensex was trading 129.76 points or 0.22 per cent lower at 59,283.51 on the BSE.
Sign Up with Google
RECOMMENDED FOR YOU
POPULAR