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Indian Overseas Bank receives ₹123.87-crore income tax refund

Shares of Indian Overseas Bank ended at ₹57.46, down by ₹1.55, or 2.63%, on the BSE.

Business Standard

HSBC India starts global education payments; direct payments to 600 univ

HSBC India on Monday launched global education payments to enable Indian students and the bank's customers to pay fees directly to more than 600 international universities and colleges. Aiming to simplify the process of foreign currency payment, it provides students and their families a completely digital experience when making tuition payments for their overseas education, the bank said in a statement. With this new feature on the HSBC India mobile banking app, customers can select the country or territory and the university and get pre-loaded, pre-verified account details of the university, it said. They can then add student details, upload loan documents, make a payment request instantly and securely through the mobile app and benefit from reduced remittance costs compared to other international education payment options available. *** Piramal Finance partners with Digital India's Common Service Centers * Piramal Capital & Housing Finance Ltd (Piramal Finance), a wholly-owned

Business Standard

Indian Overseas Bank bags Rajbhasha Kirti Puraskar for 2nd consecutive time

Public sector Indian Overseas Bank has secured the Rajbhasha Kirti Pratham Puraskar first prize for the second consecutive year in the Official Language Implementation category for 2023-24 by the Ministry of Home Affairs. The recognition underscores the commitment of the city-headquartered bank in promoting the use of Hindi language and enhancing the implementation of official language policies across its operations. Union Home Minister Amit Shah presented the award to the bank's Managing Director and CEO Ajay Kumar Srivastava in New Delhi at a function to mark the Hindi Day Celebrations and the Diamond Jubilee of Official Languages, a press release from the Bank said. Indian Overseas Bank currently has 3,264 branches, 3,500 ATM network and 7,251 business correspondents. It also offers its service in Singapore, Hong Kong, Thailand and Sri Lanka. The Ministry of Home Affairs introduced the Rajbhasha Kirti Puraskar award scheme to encourage the implementation of the official language

The Economic Times

Shriram Finance plans to raise up to $1.5 bn from overseas, CEO says

Shriram Finance, an Indian non-banking lender, plans to raise $1.25 billion to $1.5 billion in the current fiscal year from international markets to diversify its borrowings. The funds will be raised through a mix of loans and bonds. This move comes after India's central bank required lenders to hold more capital for loans to NBFCs, increasing the cost of raising funds.

Business Line

Tech Query: What is the outlook for HDFC Bank, Gujarat Ambuja Exports Ltd (GAEL) and Indian Overseas Bank (IOB)?

We zoom in on the prospects of HDFC Bank, as also the prospects of two other stocks — Gujarat Ambuja Exports Ltd (GAEL) and Indian Overseas Bank (IOB)