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Rental Deposit Loans from Indian Overseas Bank in Tiruppur

The city of Tiruppur is situated in the south Indian state of Tamil Nadu. It is the states fifth largest. Thiruppur lies on the banks of the River Noyyal and serves as the administrative headquarters of the Tiruppur district. The city is also familiar to many as the "Knit Wear Capital of India" or as "Textile City." Tiruppur was a major part of a trade route and was much coveted by various ruling dynasties in India during the medieval period. The city is a manufacturing hub for textiles, knitwear, bleaching and dyes. The economy of the city is flourishing on textiles. There are small industries manufacturing commodities for MNCs like Nike, Walmart, Adidas, Diesel, Tommy Hilfiger, etc. The educational necessities of students in Tiruppur are taken care of by renowned institutions like Tamil Nadu School Of Architecture, Alagappa University, Bharathiar University, A.S Educational Institute, Bharathiyar University, School Of Distance Education, etc. Tiruppur is an ancient city and hosts many monuments of cultural, religious as well as historical significance. A few areas of tourist interest in and around Tiruppur are Avinashi Temple, Thirumoorthy Dam, Tirupur Kumaran Memorial Statue, Amaravathi Crocodile Farm, Orathuppalayam Dam, Ayyan Kovil, etc.

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Low interest rate Rental Deposit Loan in Tiruppur, 09 July 2020 from Indian Overseas Bank

In 2000, Indian Overseas Bank engaged in an initial public offering (IPO) that brought the governments share in the banks equity down to 75%. In 2001, the IOB acquired the Mumbai-based Adarsha Janata Sahakari Bank. Then in 2009, the bank took over Shree Suvarna Sahakari Bank, which was founded in 1969 and had its head office in Pune. Since 2006, Shree Suvarna Sahakari Bank had been in administration. It had nine offices in Pune, 2 in Mumbai and 1 in Shirpur. The total strength of employees was estimated to be more than 100. On 29 August 2003, the Indian Overseas Bank has opened an extension counter at New Kathiresan Temple complex, Bambalapitiya, Ceylon. The IOB opened a representative office in Guangzhou, China in 2005 followed which the bank opened another representative office in Kuala Lumpur and 2009 in Dubai, UAE. In the new millennium, international expansion started once again. The bank took over Bharat Overseas Bank in 2007. After three years, Malaysia granted a commercial banking license to a local bank jointly owned by BOB, IOB, and the Andhra Bank. The new bank named, India International Bank ( IIB Malaysia), began its business in 2012 in Kuala Lumpur and had a large population of Indians. The Andhra Bank holds a 25% stake in its joint-venture, BOB owns 40%, and remaining 35% is with IOB. On 31 August 2013, the Indian Overseas Bank has opened an offshore banking unit in Colombo, Sri Lanka. The bank also converted its existing Extension Counter at Ceylon into a full-fledged branch.

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