Capital infusion is govt's recognition for IOB's turnaround strategies: CEO

As part of bank recapitalisation plan, the lender got Rs 46.94 bn from govt

The government's plan to infuse Rs 46.94 billion into Indian Overseas Bank (IOB) would help the bank to comply with the regulatory requirements and provide better headroom to improve its credit on niche areas, said R Subramaniakumar, chief executive officer of IOB.

Speaking to Business Standard, he said: "We have taken this capital into consideration while working out of plan of action for turnaround in FY19. It has reaffirmed our plan and thanks to the government for the timely and very positive and forward looking release of the capital."

"This is not only going to help the bank in meeting its regulatory