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Visakhapatnam, June 23, 2005

The Indian Overseas Bank will conduct a mega housing loan mela in the city and at nine other places on Saturday and Sunday.

The mela will be held simultaneously at the Lions Community Hall and in Srikakulam, Vizianagaram, Anakapalle, Kakinada, Amalapuram, Rajahmundry, Bhimavaram and Eluru. Loans to the tune of Rs.75 crores are likely to be sanction during the event.

The IOB Chief Regional Manager, MN Krishnan told reporters on Thursday that as an incentive to the borrowers they would waive the processing charges on proposals mobilized during the mela.

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