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1st February 2017, 05:13 PM
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Join Date: Mar 2013
Re: Indian Overseas Bank Is Nationalised Or Not

Yeah, Indian Overseas Bank is a Nationalised bank.

The Government of India nationalised the IOB in 1969.

The Bank is a major public sector bank based in Chennai (Madras), with about 3700 domestic branches, including 1150 branches in Tamil Nadu, 3 extension counters, and eight branches and offices overseas as of 30 September 2014.

Indian Overseas Bank has an ISO certified in-house Information Technology department.

The bank has achieved 100% networking status as well as 100% CBS status for its branches.

IOB also has a network of about 3300 ATMs all over India.

IOB has branches in Singapore, Hong Kong, Colombo, Seoul, and Bangkok.

It has representative offices in Guangzhou, Vietnam, and Dubai.

IOB also is part-owner of a joint-venture bank in Malaysia.

Products and Services -

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

NRI Accounts

Non-Resident Ordinary (NRO)
Resident Foreign Currency Account (RFC)
Foreign Currency Non-Resident Accounts (Banks)
NRI home loan scheme
NRI remittances
Remittances procedures
Tracking cell
Forward cover
IOB NRI shield
IOB Expo Gold Card

Forex

SWIFT centers
Authorized dealer branches
Forex collection services
Overseas cash

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

Contact-

Head Office –

Indian Overseas Bank
763 Anna Salai,
Chennai - 600002
Phone: +91-44- 28524212


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