Indian Overseas Bank Accelerates Growth With Digital Innovations

Indian Overseas Bank (IOB), a leading public sector bank, celebrated its 89th Foundation Day in Chennai, honoring the legacy of its esteemed founder, Shri M. Ct. M. Chidambaram Chettyar, who established the Bank on this day in 1937.

The celebrations commenced with a ceremonial garlanding of the Founder’s Statue by Managing Director & CEO Ajay Kumar Srivastava, alongside Executive Directors Joydeep Dutta Roy and Dhanaraj T, Chief Vigilance Officer Rajeev Kumar and members of the founder’s family. The event was attended by senior bank executives, making it a momentous occasion.

Reaffirming its commitment to innovation and customer-centric banking, IOB is embarking on a series of strategic initiatives to expand its network, enhance digital banking capabilities, and introduce specialized financial solutions.

Key Announcements by IOB Managing Director & CEO, Ajay Kumar Srivastava

Branch Network Expansion

• 89 new branches and 3 Regional Offices to be opened by FY 2026, following the addition of 88 branches last year.

Empowering Women: IOB STHREE SHAKTHI YOJANA

• Aligned with Sustainable Development Goals (SDGs), this scheme supports access to Water, Sanitation, and Hygiene (WASH) facilities by offering:
• Loans up to ₹1 lakh for sanitation infrastructure at homes.
• Assistance in achieving SDGs related to No Poverty, Health, Education, Gender Equality, and Climate Action.
• Economic and social empowerment by reducing time spent on water and sanitation-related tasks.
• This scheme is designed to uplift women by reducing the burden of water and sanitation tasks, thereby fostering greater economic and social empowerment.

Commitment to Social Responsibility

As part of its Corporate Social Responsibility (CSR) initiatives, IOB has undertaken multiple community welfare programs, including:

• ₹50.78 lakh donation to the Akshaya Patra Foundation, supporting breakfast for 3,126 students across 12 schools.
• Sponsoring 836 cataract surgeries for underprivileged individuals in partnership with HelpAge India.
• Providing one-day meals, school, and sports uniforms for 650 students at Ramakrishna Mission Students Home, Mylapore, Chennai.
• Distributing wheelchairs, walking sticks, and tripod walking sticks to 30 needy individuals.

Employee Wellness Initiatives

To support employee well-being including support staff, IOB has conducted:

• Medical check-ups and wellness programs for staff and support staff.
• Sports programs to encourage fitness and team spirit among employees.

A Legacy of Excellence & Innovation

With 89 years of dedication to financial inclusion, digital transformation, and social responsibility, IOB continues to strengthen its customer-centric approach while expanding its presence and embracing technological advancements.

As the Bank moves towards its 90th year, it remains committed to delivering seamless banking experiences, fostering innovation, and empowering communities across India.