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Indian Overseas Bank

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Indian Overseas Bank

  • IOB was one of the 14 major banks that was nationalised in 1969. 
  • IOB was one among the first to join Reserve Bank of India’s negotiated dealing system for security dialing online. 
  • IOB has about 15 overseas branch and representative offices around the world.
  • The Agri Business Consultancy Services was setup in 1996 at the Central Office of IOB in Chennai for the purpose of encouraging and fostering Agriculture, Horticulture, Agro-Processing, Agro-Forestry, Animal Husbandry, Infra-structure Parks etc., and related Agro industries primarily through provision of quality consultancy.

Indian Overseas Bank (IOB) was founded on February 10, 1937, by Mr M Ct M Chidambaram Chettyar, a pioneer in many fields - Banking, Insurance and Industry with the twin objectives of specialising in foreign exchange business and overseas banking. IOB had the unique distinction of commencing business on February 10, 1937 (on the inaugural day itself) in three branches simultaneously - at Karaikudi and Chennai in India and Rangoon in Burma (presently Myanmar) followed by a branch in Penang. 

IOB has about 3,350 domestic branches, including 1,150 branches in Tamil Nadu, 3 extension counters as of September 30, 2014, besides overseas branches. IOB aims to be among the top five nationalised banks in terms of business volumes and sustained profitability with global recognition and to emerge as the “Most Preferred Banking Partner” to unlock value to all its stakeholders

IOB has keen interest in commitment towards social causes besides catering to the rural areas. The bank offers a myriad of banking and loan options.


Indian Overseas Bank: One of the major nationalised banks in India

2012-2013 Received National award for excellence in MSME Lending and for outstanding performance for implementing PMEGP programme in South Zone
2012-2013 Received IBA Technology Award for best use of business Intelligence awarded
2000-2001 IOB bagged the NABARD's award for credit linking the highest number of Self Help Groups among the Banks in Tamil Nadu. 
2000 The Bank made a successful debut in raising capital from the public, despite a subdued capital market, was oversubscribed by 1.87 times
1999 IOB had the distinction of being the first Bank in Banking Industry to obtain ISO 9001 Certification for its Computer Policy and Planning Department from Det Norske Veritas (DNV), Netherlands
Bank accounts opened under the Government’s flagship financial inclusion drive Pradhan Mantri Jan Dhan Yojana (PMJDY) reached 40.05 crore and deposits in Jan Dhan bank accounts stood at more than Rs. 1.30 lakh crore (US$ 18.44 billion).