Chennai-based public sector bank Indian Overseas Bank (IOB) today said that bank's exposure in Maytas Infrastructure, the subsidiary of information technology (IT) major Satyam, is around Rs 92 crore as on January 2009.
IOB will be the first Chennai-based bank to report that, the bank got the exposure.
The bank's Chairman and Managing Director (CMD) on Friday said the the bank is dealing with the infrastucture company for the last four years and the lending started from Rs 50 crore and as on January 30, 2009 it is around Rs 90 crore. He did not make any further comment.
Earlier another Chennai-based public sector bank, Indian Bank, said it does not have any exposure to Satyam or to Maytas.
