IOB FELICITATES RUPINDER PAL SINGH

 IOB FELICITATES RUPINDER PAL SINGH

 

Indian Overseas Bank (IOB), a leading public sector bank headquartered in Chennai felicitated Mr. Rupinder Pal Singh, who was part of the Indian hockey team that won the Bronze medal at the 2020 Olympic Games held in Tokyo. He plays as a fullback and is known for his abilities as one of the best drag flickers in the world. Rupinder Pal Singh is an IOB employee of the bank since 2010.

 

Rupinder was felicitated with the customary shawl and garland by Mr. Partha Pratim Sengupta, Managing Director & CEO, Indian Overseas Bank in the presence of Executive Directors Mr. Ajay Kumar Srivastava and Ms. S. Srimathy and the staff at IOB’s Central Office premises in Chennai. 

 

Speaking on the occasion, Mr. Partha Pratim Sengupta said, “Rupinder has indeed made IOB proud with his achievement at the recently concluded Tokyo Olympics. We look forward to more such laurels from him. IOB will continue to strongly support him in his hockey endeavors. On behalf of the entire staff at IOB from across the length and breadth of the country and also our overseas branches, I wish to take this opportunity to congratulate him and the entire Indian hockey team for their brilliant performance at the world's biggest and the most coveted sports event.”

 

As a token of appreciation, IOB presented Rupinder Pal Singh with a cash prize on the occasion. The bank also announced his one out of turn promotion for his active participation as a member of the Tokyo Olympics and for winning the Bronze Medal.

IOB appoints Digital Consultant for

 IOB appoints Digital Consultant for the Bank.

 

INDIAN OVERSEAS BANK (IOB), as part of its growth strategy, intends to transform its banking services into a DIGITALIZED FORM with an aim to increase its  DIGITAL SHARE in the market.Towards achieving this goal, the Bank hasappointedM/s. Ernst & Youngas its DIGITAL CONSULTANT.

The DIGITAL CONSULTANT, the Bank believes, would help the Bank to stay more focussed on leveraging and adopting newtechnologies and to enhancethe service quality and service delivery to its customers.  This initiative would also help the Bank to accelerate DIGITALIZATION in all the areas of Banking  including its Assets and Liability products and services.

According to MD & CEO of IOB, Shri Partha Pratim Sengupta, with this new initiative, the Bank is poised to attract Millennial customers who are  techsavvy.Bank will now be confident of providing all customers a hassle free and seamless Banking experience.

IOB requests Moody’s Investor Service to

             IOB requests Moody’s Investor Service to withdraw Ratings

Bank was utilizing the services of Moody’s for international rating.  Moody’s rating was necessary for the Bank at the time of issuance of MTN bonds amounting to USD 1.00 Billion which was raised in Singapore and Hong Kong in two tranches of USD 500 Mio each one in 2011 and another in 2012.  

At the time of floating MTNs during 2011/2012, Bank entered into Rating agreement with Moody’s Investors Services and had opted for the following ratings: 

1.            Bank Deposit and Financial Strength Rating (BFSR) and

2.            Medium Term Notes (MTN) Program Rating 

Bank had redeemed the MTN in two tranches of USD 500 Mio each on 19.10.2016 and 21.02.2018. 

The Bank is mobilising deposit in both domestic as well as overseas branches from public. Our overseas branches continue to actively borrow in the inter-bank market for onward lending.  

Since the Bank has no immediate plan to mobilise funds through MTN programme, Bank requested Moody’s Investor Services during Feb’ 21 to withdraw the ratings. 

Based on Bank’s request, Moody’s Investor Service published its rating action for withdrawal of ratings of Indian Overseas Bank   

Plastic Free India Campaign by IOB

Chennai: Indian Overseas Bank, one of the leading Public Sector Banks in the country, held the Swatchhta Hi Sewa Campaign between 7.00 a.m. to 8.00 a.m. at the Besant Nagar Beach today. The campaign was led by Mr.Karnam Sekar, MD & CEO, Indian Overseas Bank.

Around 150 employees of the Bank contributed their time for cleaning and making Besant Nagar Beach free from plastic. This is a part of Government of India’s initiative to make India cleaner and Plastic free. Mr K.Swaminathan, Executive Director IOB, and Mr. Ajay Kumar Srivastava, Executive Director IOB and other GMs and DGMs also participated in the campaign.