The stock witnessed a massive combined volume of around 51.56 million shares in the first hour of trades on the BSE and NSE. The stock has pared some gains, but is still up 12.2 percent at Rs 23 on the BSE, while the S&P BSE Sensex is down 10 points at 59,404 at 10, 05 am.

RBI said the bank has given the commitment to comply with the norms of Minimum Regulatory Capital, Net Non-performing Assets and Leverage ratio on an ongoing basis. It has apprised about the structural and systemic improvements in place to help the bank to meet these commitments.

According to India Ratings, IOB has been meeting the threshold to exit the PCA framework on a quarterly basis in the last four quarters and on an annual basis for FY21.

IOB was placed under in October 2015 on account of fight Net-Performing Assets (NPAs) and negative Return on Assets (RoA). It was barred from increasing risk-weighted assets.

For the quarter ended March 2021, the IOB’s net NPAs declined to 3.58 percent from 5.68 percent in March 2015 (FY15). It posted a net profit of Rs 831 crore in FY21 as against a net loss of Rs 454.33 crore in Fy15. The ROA was 0.27 percent for FY21 while it was negative at -0.16 percent for FY15.

“Today, Ambassador of India to Qatar, Deepak Mittal, met Sher Mohammad Abbas Stanekzai, the head of Taliban’s Political Office in Doha. The meeting took place at the Embassy of India, Doha, on the request of the Taliban side,” the statement said.

Stanekzai, who is seen as a key member of the number two in the Taliban’s negotiating, team is ranked third overall among leaders based in Qatar. He is believed to have trained for several years at the Indian Military Academy (IMA) in Dehradun in the early 1980s. In recent days, Stanekzai has been seen as taking on a key role in foreign relations but he is not seen part of the decision-making team in Kabul.

“Discussions focused on safety, security, and early return of Indian nationals stranded in Afghanistan. The travel of Afghan nationals, especially minorities, who wish to visit to India also came up,” the Indian foreign ministry said.

“Ambassador Mittal raised India’s concern that Afghanistan’s soil should not be used for anti-Indian activities and terrorism in any manner,” the Indian statement said.

“The Taliban Representative assured the Ambassador that these issues would be positively addressed,” the statement added.

The meeting between the two comes a fortnight after the Taliban took over Kabul on 15 August after a lightning sweep across the country. It also comes after the completion of the US-led international troops from Afghanistan. The last of the US troops left Afghanistan on Monday.

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