IOB accelerates growth through digital innovations, new branches and customer-centric initiatives and CSR initiatives

Chennai: Indian Overseas Bank celebrated its 89th Foundation Day in Chennai. The event was a tribute to the rich legacy of the bank, which was founded on this day in 1937 by M. Ct. M. Chidambaram Chettiyar.

The special day celebrations began with the family members of the bank’s founder, Ajay Kumar Srivastava, Managing Director & CEO of the bank, and Executive Directors Joydeep Datta Roy and T. Dhanaraj, Chief Supervisory Officer Rajeev Kumar, garlanding the statue of the founder Chidambaram Chettiar.

Reaffirming its commitment to innovation and customer-centric banking, IOB has launched and implemented a series of strategic initiatives to expand its service offering, enhance digital banking capabilities and introduce unique financial solutions.

Ajay Kumar Srivastava, Managing Director & Chief Operating Officer, Indian Overseas Bank, made the key announcements in this regard.
Expansion of Branch Network

 With 88 new branches opened last year, three regional offices and 89 new branches are set to be opened by FY26.
Empowering Women: IOP Stree Shakti Yojana
 Aligned with the Sustainable Development Goals, this scheme will support access to water, sanitation and hygiene (WASH) facilities by providing:
 Loans up to Rs. 1 lakh for household sanitation infrastructure.
 Assistance in achieving the Sustainable Development Goals related to poverty alleviation, health, education, gender equality and climate action.
 Economic and social empowerment by reducing the time spent on water and sanitation-related activities.
 The scheme is designed to improve the lives of women by reducing the burden of water and sanitation-related activities; thereby leading to women’s empowerment in large-scale economic and social activities.

Commitment to Social Responsibility

As part of its Corporate Social Responsibility (CSR) initiatives, IOP has undertaken various social welfare projects, including the following:

 Donation of ₹50.78 lakhs to Akshaya Patra Foundation for providing breakfast to 3,126 students in 12 schools.
 Funding of 836 cataract surgeries for underprivileged persons in a joint venture with Help Age India.
 Providing one-day meals, school and sports uniforms to 650 students at Ramakrishna Mission Students’ Home, Mylapore, Chennai.
 Distribution of wheelchairs, walking sticks and walking aids to 30 differently-abled and mobility-impaired persons in need.

Employee Wellness Initiatives

IOB has conducted the following events to support employees, including support staff:

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

Legacy of Excellence and Innovation

With 89 years of dedication to the goals of financial inclusion, digital transformation and social responsibility, IOB has continued to strengthen its customer-centric approach while expanding its footprint across the country and proactively implementing technological advancements.

As IOB approaches 90 years of service since its inception, Indian Overseas Bank is fully committed to providing a seamless and seamless banking experience across India, encouraging and nurturing innovation and empowering communities.