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IOB
scheme for PSU issues
Our Banking
Bureau
4 October 2004
 Visakapatnam:
Indian Overseas Bank (IOB) has devised a special financing
scheme for the public to invest in the shares of public
sector units (PSUs) such as NTPC, according to a bank
release.
The
interest rate for these loans will be 9.5 per cent and
60 per cent of the offer price, subject to a ceiling of
Rs10 lakh per individual, can be taken from the bank,
according to A J Prasad, senior regional manager.
 There
will be no pre-payment charges and no guarantee is required.
The loans can be availed from the Dwarakanagar and Jagadamba
branches in the city, and the Eluru and Kakinada branches.
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