Govt ups stake in IOB to 65.87% chennai: The governments stake in public sector Indian Overseas Bank has increased from 61.23 per cent to 65.87 per cent as a result of capital infusion of Rs 1,054 crore into the Bank. At a recent meeting,IOB allotted 7,39,49,343 equity shares of Rs 10 each at an issue price of Rs 142.53 per equity share totalling Rs 1,054 crore to Government of India on preferential basis,the Bank said in a statement. India extends LoC to Tanzania mumbai: India has extended a Line of Credit (LOC) of $36.56 million to the Government of Tanzania,for financing purchase of 723 vehicles from India. Export-Import Bank of India will reimburse 100 per cent of contract value to the Indian exporters,upfront upon the shipment of goods. The LOC will be used for financing at least 75 per cent of total contract value through sourcing of goods and services from India. Exim gives LoC to Mozambique Mumbai: Export-Import Bank of India has extended a Line of Credit (LOC) of $ 20 million to the Government of the Republic of Mozambique,for enhancing productivity of rice-wheat-maize cultivation in Mozambique. This is the seventh LOC extended by Exim Bank to Mozambique,taking the total value of LOCs extended to $160 million.
