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Indian Overseas Bank | SBI PO Prelims & Mains Preparation - Bank Exams PDF Download

Introduction

  • Indian Overseas Bank is one of the public sector banks in India. 
  • It is the first public sector bank in India to introduce mobile banking using WAP (wireless Application Protocol). 
  • It is also the first one to get the latest digital banking software, Finacle 10 suite package from Infosys.

History

  • In 1937, Thiru M. Chidambaram Chettiyar established the Indian Overseas Bank to encourage overseas banking and foreign exchange operations. 
  • Then in 1969, Government of India nationalized IOB. 
  • In 1984, IOB opened its 1000th branch. 

Logo of Indian Overseas Bank
Indian Overseas Bank | SBI PO Prelims & Mains Preparation - Bank Exams

  • Tagline: Good people to grow with
  • Headquarter: Chennai, Tamil Nadu
  • Founded on: 10 February 1937
  • Founder: M. Chidambaram Chettyar
  • CEO and ED: R. Subramania Kumar

Acquisitions

  • Coimbatore Standard Bank 
  • Coimbatore Vasunthara Bank 
  • Nanjinnad Bank 
  • Kulitalai Bank 
  • Srinivasa Perumal Bank 
  • Venkateswara Bank 
  • Bank of Tamil Nadu

Joint Ventures 

  • Universal Sompo General Insurance (USGI) Company 
  • Apollo Munich Health Insurance company 

Sponsored Regional Rural Banks (RRB)

  • Pandyan Grama Bank 
  • Puri Gramya Bank 
  • Dhenkanal Gramya Bank 

Awards Received Recently

  • Best Performing Bank award in the implementation of PMEGP (Prime Minister’s employment generation Programme.)
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