Indian Overseas Bank was established in 1937 with the aim to specialize in foreign exchange and overseas banking business in India. It started with simultaneously three branches in Chennai, India; Rangoon, Burma (Now Myanmar) and Penang. On the Independence Day, Indian Overseas Bank had expanded to 38 branches within the country and 7 branches abroad.
Before nationalization in 1969, the bank had ventured into consumer credit, had begun computerization of their branch in 1964 and had established an independent department for agricultural finance. In 1969, IOB had 195 branches in India. In 1977, Indian Overseas Bank opened a branch in Seoul followed by a foreign currency-banking unit in Colombo in 1979. In 1997, the bank launched its official website and introduced online Bill Payment Services for MTNL Bills to its New Delhi branch customers in 1999.
Indian Overseas Bank currently provides specialized banking services to its retail customers that include Any Branch Banking (ABB), ATM Banking, IOB STARS (Indian Overseas Bank - Speedy Transfer And Realization Service) and the most popular and latest one is the 8% Saving (Taxable) Bond Scheme.
IMPORTANT DATES
Opening date for online registration 06.12.2008
Closing date for online registration 31.12.2008
Indian Overseas Bank Head Office Address
763, Anna Salai,
Chennai - 600002
Website : www.iob.in
Email : iobcmd@vsnl.com
Mr. S. A. Bhat
Chairman & MD
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