INDIAN OVERSEAS BANK.pptx for college students

all about Indian overseas bank in detail

1. INDIAN OVERSEAS BANK By Bhairavi Shete

2. Introduction 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 on 10 th February 1937 by  M. Ct. M. Chidambaram Chettyar  with twin objectives of specialising in foreign exchange business and overseas banking, it has created various milestones in Indian Banking Sector. During the nationalisation , IOB was one of the 14 major banks taken over by the government of India. As on 31 March 2022, IOB's total business stands at ₹417,960 crore (US$52 billion).

3. History In 1937,  M. Ct. M. Chidambaram Chettyar  established the Indian Overseas Bank to encourage overseas banking and foreign exchange operations Th e bank served the  Nattukottai Chettiars , who were a mercantile class that at the time had spread from  Chettinad  in Tamil Nadu state to  Ceylon  (Sri Lanka), Burma (Myanmar),  Malaya , Singapore,  Java ,  Sumatra , and  Saigon . As a result, from the beginning IOB specialised in foreign exchange and overseas banking In 1969, the Government of India nationalized IOB In 2000, IOB engaged in an  initial public offering  ( IPO ) that brought the government's share in the bank's equity down to 75%. 

4. Mission Vision “To provide Best Banking Solutions through Digital and physical experience for customer delight with skilled manpower “ “To emerge as preferred bank connecting generations with high standards of ethics and governance”

5. Key People Shri Ajay Kumar Shrivastava MD & CEO Ms. S Srimathy Executive director Shri Suresh Kumar Rungta Director Ms. Sonali Sen Gupta RBI Nominee Director

6. Products And Services provided by Indian Overseas Bank The thoughtfully designed products and services of the Indian Overseas Bank can be listed as given below: Personal Banking Saving bank Current account Term deposit Retail loans Home loans and mortgages Depository services IOB Fine Gold International VISA Cards Any Branch Banking Multi city cheque facility Insurance and mutual fund Corporate Banking Micro Small and Medium Enterprises (MSME) IT & ITes BPO Cash management services -IOB STARS Rural IOB's commitment for social causes Agricultural short time loans Financial inclusion Agri business consultancy

7. Government Business E-Payment of direct taxes E-Payment of indirect taxes Pension payment scheme Sales tax collections Provident Fund Scheme 1968 8 percent savings taxable bond scheme Senior citizen scheme 2004 Forex SWIFT centers Authorized dealer branches Forex collection services Overseas cash

8. Customer touchpoint PAN India & Foreign Branches

9. Initiatives As a part of Green Initiative, the Bank is moving towards Paperless banking through various initiatives such as Mobile Banking, Internet Banking, BHIMIOB UPI, Debit Cards, Management of ATMs/Cash Recyclers/Passbook Kiosks, IOB PAY etc. For encouraging use of renewal energy, Bank offers special credit scheme – IOB SURYA for purchase renewable solar energy equipment Such as Solar Cookers, Solar Heaters & Home/Indoor Lighting Systems Supporting environment friendly projects, bank extend credit facilities to renewal energy sector such as projects for installation of wind mills etc. Supporting governments aims for becoming a 100% electric vehicle nation by 2030, Our Bank too have taken measures to motivate buying Electric Vehicles by offering attractive loans scheme with interest concessions .

10. IOB is committed to and involved in various social causes, the most prominent being women empowerment. The Sakthi - IOB Chidambaram Chettiar Memorial Trust which was established with an Objective to empower the Women Folk in the lower strata of society through vocational training Credit facilities are being extended under various social service Schemes such as Credit Linkage to Women SHGs, PMSvanidhi , Mudra ( Shishu ) etc. Bank also encourages women borrowers by extending interest Concessions and offering special credit schemes such as IOB Sagarlakshmi , Bhoomishakti , IOB Mahila Plus etc. Financial Literacy is imparted through Financial Literacy Centers (SNEHA) established at 24 locations under Corporate Social Responsibility. The counsellors of these centers are educating the people in rural and urban areas with regard to various financial products and services available.

11. Financial Inclusion

12. Digital outreach

13. Thankyou By Bhairavi Shete Div – A Roll no – 96