Indian Overseas Bank Purasaiwalkam branch commemorated its 88th Foundation Day on 10-02-2024. Thiru. I Paranthamen, MLA Egmore Constituency graced the occasion and made this day more memorable by giving away tricycles to differently abled and received a cheque of Rs. 235650/- towards the contributions from its staff to Chief Minister’s Public Relief Fund. Free medical camp was also conducted. Long standing customers of the Bank were felicitated by Shri. Davender Kumar, Chief Regional Manager, Indian Overseas Bank, Chennai-1 Region.
About Indian Overseas Bank
Indian Overseas Bank (IOB) is an Indian public sector bank based in Chennai. It has about 3,220 domestic branches, 2 DBUs (Digital Banking Unit) about 4 foreign branches and representative office. Founded in February 1937 by M. Ct. M. Chidambaram Chettyar with twin objectives of specializing in foreign exchange business and overseas banking, it has created various milestones in Indian Banking Sector. During the nationalization, IOB was one of the 14 major banks taken over by the government of India. On 5 December 2021, IOB got Degidhan Award 2020–21 by Ministry of Electronics & Information Technology for achieving second highest percentage of digital payment transaction among public sector banks. As on 31 March 2022, IOB’s total business stands at 417,960 crore (US$52 billion)