BANKING AFFAIRS

Detailed explanation-1: -Indian Overseas Bank (IOB) is an Indian public sector bank based in Chennai. It has about 3, 214 domestic branches, about 4 foreign branches and representative office. Founded in February 1937 by M.

Detailed explanation-2: -IOB was one of the 14 major banks that were nationalized in 1969. On the eve of Nationalization in 1969, IOB had 195 branches in India with aggregate deposits of Rs. 67.70 Cr.

Detailed explanation-3: -Motilal Oswal tracks top 7 PSU banks-State Bank of India, Punjab National Bank, Bank of India, Bank of Baroda, Central Bank, Union Bank and Indian Bank and from the list its top picks are SBI, BoB and Central Bank.