📰 Indian Public Sector Banks Capital Raise Indian Overseas Bank (**IOB**) and Punjab & Sind Bank (**P&SB**) are preparing to raise a combined total of **₹7,000 crore** through Qualified Institutional Placements (**QIPs**). This capital infusion is intended to support **growth initiatives** and ensure compliance with **Basel III norms**. Furthermore, the QIPs are aimed at **reducing the high shareholding** of the Government of India in both banks. IOB has concurrently indicated that it faces challenges in meeting the mandated **minimum public shareholding** requirements by the August deadline.