Definitions

Bharat Overseas Bank Ltd

Bharat Overseas Bank Ltd.

Bharat Overseas Bank is a private bank based in Chennai, India. It was established in order to take over for the Bangkok branch of the Indian Overseas Bank. It is one of the few private banks that the Reserve Bank of India permits to have a branch outside of India, and is the only bank representing India in Thailand. It was owned by seven banks (initial ownership figures in parentheses): Indian Overseas Bank (30%), Bank of Rajasthan (16%), Vyasa Bank (14.66%), Karur Vyasa Bank (10%), Federal Bank (19.67%), South Indian Bank (10%), and Karnataka Bank(8.67%), but in 2007 Indian Overseas Bank fully acquired the bank.

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Now this bank is merged with Indian Overseas Bank. All employees ,deposits and advances are now of Indian Overseas Bank

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