Chennai, July 9 (UNI) The Indian Overseas Bank (IOB), which

has sought Rs 6,000 crore as capital from the Central government,

is looking at increasing its current and savings account deposits.

Talking to reporters here on Tuesday, IOB MD and CEO Karnam Sekar

said the bank would focus on One Time Settlement of non-performing

loan (NPL) accounts; auctioning seized mortgaged properties, increasing

\\\\net interest income and net interest margin and tackling education loan

defaulters this year.

“We hope to come out of the prompt corrective action framework this

year', he said and added the the second quarter of the current fiscal

was expected to turn profitable by focussing on recovery of big loans

with one time settlement options.

Observing that the bank was biased towards corporate sector for the

past couple of years, he said this would be changed with greater focus

on retail, jewel and other loans, with corporate-retail ratio being 50:50.

Stating that delinquency rate on education loan portfolio was high

due to genuine reasons and also willful defaulters, Mr Sekar said

the bank was mulling with the option of recovering the dues by

contacting the employers of the borrowers or by even placing their

details on the social media, besides extending the loan repayment

period.

UNI GV 1803