<h1>Central Government Appoints New Executive Director for Indian Overseas Bank under Banking Companies Act.</h1> The Central Government has appointed an individual as Executive Director of Indian Overseas Bank. This decision was made under the authority granted by The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970/1980, and the Nationalized Banks (Management and Miscellaneous Provisions) Scheme, 1970/1980. The appointee, previously an Executive Director at Indian Bank, will serve in the new role from the date of assuming charge until January 21, 2019, or until further notice, whichever comes first.