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Rental Deposit Loans from Indian Overseas Bank in Udupi

Udupi city is the administrative headquarter of the Udupi District of Karnataka. Udupi is a prime tourist attraction in Karnataka. It is known for the famous Krishna Temple and the delectable Udupi cuisine which is famous all over South India. Udipi is often referred to as Lord Parashurama Kshetra and it is famous for Kanakana Kindi. It is an important center of pilgrimage and is known as Rajata Peetha and Shivalli. It is also known as the temple city. Udupi has more than 1.5 lakh residents who mostly speak in the Tulu language. The other languages spoken in the area are Konkani, Kannada, Hindi and English. Muslims living in Udupi speak in Urdu, Nawayathi and Beary. Udupi is slowly developing into a major town in Karnataka. Udupis economy is largely dependent on agriculture and fishing. The city has quite a few small-scale industries such as cashew industry and milk cooperatives. Udupi is of-late making its mark in the real estate industry as well. Udupi also has a local handloom sari industry, made of pure cotton. These lightweight sarees have art silk design and small motifs of art silk dotting. Manipal is a suburb of Udupi and hosts a number of famous educational institutions.

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Low interest rate Rental Deposit Loan in Udupi, 07 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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