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RBI nod for IOB final dividend

CHENNAI, JUNE 9. Indian Overseas Bank (IOB) has received the approval from the Reserve Bank of India for its proposed final dividend of 8 per cent. The total dividend for 2003-04 is 20 per cent. The bank had reduced its net NPA ratio to 2.85 per cent from 5.23 per cent in the previous year and attained capital adequacy ratio of 12.49 per centagainst 11.30 per cent in the previous year.

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