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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
- 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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