Indian Overseas Bank, Lead Bank Chennai recently conducted a

Indian Overseas Bank, Lead Bank Chennai recently conducted a Mega Customer Outreach Programme wherein 21 Public and Private Sector Banks participated. The District Collector Dr.J.Vijaya Rani, IAS inaugurated the event and handed over sanction letters to the tune of Rs.1035.00 Crores viz MSME Loans, Self Help Groups, Retail Loans, Housing Loans, Education Loans, etc., to 3000 beneficiaries by the participating Banks.

 

In the Mega Event, Shri. Susil Chandra Mohanta, General Manager, IOB & State Level Bankers’ Committee Convener, Shri. Davender Kumar, Chief Regional Manager, IOB & District Consultative Committee Convener, Shri. S.Krishnan, Lead District Manager, Executives of Various Banks and other Government Officials participated.

Indian Overseas Bank is now Integrated with

 Indian Overseas Bank is now Integrated with 

TN Govt for all Treasury collections

 Indian Overseas Bank is now integrated with TN Govt’s IFHRMS (Integrated Finance Human Resource Management System) portal designed for collection of all treasury receipts. IFHRMS portal is developed as a comprehensive management system by integrating Human Resources and Financial services to improve operational efficiency.  Indian Overseas Bank is now authorized to collect all the receipts of Tamil Nadu Government under IFHRMS portal through both offline and online.”

Indian Overseas Bank has also joined PFRDA in promoting pension and retirement planning. In this connection, IOB has launched an NPS Campaign until 31st October 2021.

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.

INDIAN OVERSEAS BANK LAUNCHES RETAIL LOANS ON

INDIAN OVERSEAS BANK LAUNCHES RETAIL LOANS ON
DIGITAL PLATFORM

 

Indian Overseas Bank has announced the launch of Retail Loans (home loan, personal loan & clean loan) on digital platform.

 

The launch was presided by Mr. Partha Pratim Sengupta, Managing Director&CEO, Indian Overseas Bank in the presence of Executive Directors Mr. A. K. Srivastava and Mrs. Srimathy S.

 

The loans are now available through various channels, i.e. the bank website (www.iob.in), Internet Banking and the Mobile Banking App. IOB customers may apply for these loans through the bank website, mobile banking and internet banking, while non-customers may apply only through thebank website.

 

Applicants may apply for Housing Loans and Home Loans under the PMAY schemes (subsidy linked home loans). They will also have the option to switch over their home loans from other Banks to IOB. Applicants may also apply for Two &Four Wheeler Loans and Personal Loans in easy steps. Personal Loan to HNIs are also being offered at a discounted interest rate.

 

On submission of the application after accepting the terms & conditions of the loan, an In-principle sanction letter having a reference number will be generated and will be intimated to applicant through SMS/e-mail.Applicants may then visit IOB’s nearestbranch to avail the loan with the required documents and the in-principle sanction letter. The branch will disburse the loan after verifying the details entered by the borrower, due diligence, appraisal of the loan and execution of documents.

 

The Digital Loan Initiative is a step towards providing enhanced banking experience to the customers.

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.

INDIAN OVERSEAS BANK INTRODUCES

                 INDIAN OVERSEAS BANK INTRODUCES ‘IOB TRENDY’

~ A Savings Account for the Millennials ~

 

Indian Overseas Bank has launched ‘IOB Trendy’, a Savings Account that has been thoughtfully customised keeping in mind the banking preferences of the growing millennial population in the country.

Millennials today heavily rely on their savings accounts to manage their finances. They want to carry out their banking activities with minimal hassles, and they routinely rely on technology to help them do it. This is exactly what Trendy has to offer…convenient banking with value-adds for the monies they save for themselves at IOB.

Indian Overseas Bank understands that banking needs are prompted by life needs…small and big. IOB Trendy is a Savings Bank Account Scheme introduced by the bank towards this endeavour of understanding the banking needs of millennials and customising the scheme to those needs.

At the time of opening an IOB Trendy account, one needs to be within the age bracket of 21 – 38 years. The account may be self or jointly operated. In case of a joint account, the primary holder has to be a millennial at the time of account opening.

There is no ‘Opening Balance’ requirement for IOB Trendy…meaning to say no charges shall be levied for the first month for non-maintenance. One will need to maintain a daily minimum balance of INR 10,000/- (OR) a daily minimum balance of INR 5,000/- and a digital turnover (transactions using IOB ATM / CDM / IOB Mobile Banking or Internet Banking fund transfer / IOB UPI transactions or IOB Debit card POS transactions) of minimum of INR 20,000/- per month.

 Other value-adds offered by IOB Trendy include…

 §  Facility of online submission of application form

§  Free personalised accident (death) insurance cover of INR 5,00,000/- if the quarterly average balance is INR 1,00,000/- and above

§  Free personalised cheque book (maximum 50 leaves per year) delivered at doorstep

§  Free funds transfer online / offline using NEFT / IMPS / RTGS

§  Free SMS alerts for transactions (Debit / Credit)

§  Free registration of ECS / NACH Mandate

§  Free registration of Standing Instructions

§  Monthly statement of accounts on registered e-mail

§  Auto-sweep facility, when the balance exceeds INR 50,000/- in Savings Account in units of INR 2,000/- and kept as short-term deposits

§  Issue of debit cards as per the choice of the customer by paying the applicable charges

§  Availability of mobile banking and internet banking on activation of account

§  Availability of Video KYC and Online account opening shall follow on implementation of the features

MRS. S. SRIMATHY ASSUMES CHARGE AS EXECUTIVE DIRECTOR

MRS. S. SRIMATHY ASSUMES CHARGE AS EXECUTIVE DIRECTOR
AT INDIAN OVERSEAS BANK

Mrs. S. Srimathy has assumed charge as Executive Director of Indian Overseas Bank. Prior to this, she was serving as Chief General Manager at Canara Bank.  She had been deputed to NABARD as Chief Vigilance Officer immediately before her appointment in Indian Overseas Bank.

Mrs. Srimathy joined Canara Bank as a Probationary Officer in November 1986.  She has 34+ years of Banking experience across categories of branches from Rural to Metro, and is well exposed to various verticals like Branch Operations, Mid & Large Credits, Human Resources, Risk Management etc.  She has worked across several locations in the country.

She headed Canara Bank’s Prime Corporate Branch at Cuffe Parade, Mumbai for over three years. She also headed the Corporate Credit Wing & International Operations at Canara Bank’s Head Office before becoming Head of Chennai Circle.

She was deputed to NABARD as Chief Vigilance Officer in July 2018.  During this period, Mrs.  Srimathy held additional charge as Chief Vigilance Officer at New India Assurance Company, State Bank of India and Bank of Baroda for varying periods.

Mrs. Srimathy holds a Post-Graduate degree in Commerce along with a Masters in Business Administration.  She is also a Certified Associate of the Indian Institute of Banking & Finance (CAIIB).

Universal Sompo General Insurance Company Limited has

Universal Sompo General Insurance Company Limited has announced the appointment of Sharad Mathur as its Managing Director & CEO

Sharad Mathur has been appointed as Managing Director & CEO of Universal Sompo General Insurance Company Limited w.e.f. 2^nd June 2020. He will lead the company's overall operations and report to the Board of Directors. Sharad is a seasoned business leader and brings over 23 years of extensive experience and a strong track record of building scale and profitable general insurance businesses. 

Universal Sompo is a joint venture between Indian Bank, Indian Overseas Bank, Karnataka Bank, Dabur Investments Corporation and Sompo Japan Insurance. Universal Sompo employs over 1,000 employees and has 86 offices across India.

"We are glad to have Sharad on board as we plan to drive the next phase of development of Universal Sompo. 

Under Sharad's leadership, company aims to develop a capability to deliver more innovative products, re-engineered distribution architecture and significant improvements in productivity,” said Padmaja Chunduru, Managing Director & CEO, Indian Bank.

On his appointment, Sharad said, "It has been a fulfilling journey in the general insurance sector wherein we have achieved many milestones together and will definitely achieve many more. I am thankful to the board of Universal Sompo for having faith in me and I am looking forward to working with all stakeholders to accelerate the company's expansion. Together, we will leverage our ability to innovate, with sharp customer focus which will remain at the heart of our DNA as we continue to build a great service platform for our customers and channel partners.”

"India is a rapidly-growing market for our business in Asia. Sharad's understanding of Indian market and general insurance business, combined with his expertise in sustainable business expansion and digital technologies, will be a huge asset for Universal Sompo." said Daniel Neo, Regional Chief Executive Officer of Sompo Holdings (Asia) Pte. Ltd. 

Sharad has been employed with SBI General Insurance Company Limited in different roles since its inception in the year 2009, and finally as Head - Distribution till July 2019, appointed as a KMP by the Board of Directors of the Company.

Prior to joining Universal Sompo, Sharad had a specific stint in a new General Insurance project, developing business structure and long-term strategy for a proposed venture. Earlier, he has been employed with ICICI Lombard General Insurance Company Limited, since its inception, in the year 2001, in various regional and national leadership roles. In the past, he has worked with large diversified manufacturing organizations, including, MRF, Bharat Shell and Reliance Retail.

He holds a Bachelor’s degree from Delhi College of Arts and Commerce, University of Delhi; Completed Post-Graduation Program in Management with a specialization in Marketing; 'Certification Programs in Leadership and Management from Indian School of Business and Harvard.

Sharad has been a key-note speaker and panelist in international insurance summits, being held in parts of Asia, South Africa and Europe.

He has been conferred with awards such as '50 Most Talented Retail Professionals of India' by CMO Asia and '50 Most Influential Digital Media Professionals' by World Marketing Congress.

Sharad added, "The current environment has made the safety of our customers, partners, vendors and colleagues, our top most priority. We are making our best efforts and certain that together, all of us will get through these challenging times!"

Indian Overseas Bank appoints Shri Bhuwan Chandra as CFO Indian Overseas Bank

Celebration of Constitution Day, 26th November 2019

Indian Overseas Bank has celebrated Constitution Day on 26^th November 2019 at its Central Office, Chennai.

MD & CEO, Shri. Karnam Sekar read the Preamble of the Constitution along with Executive Directors Shri. K. Swaminathan, Shri. Ajay Kumar Srivastava and all the staff members. Bank’s Branches, Regional Offices and Zonal Offices at various places celebrated “Constitution Day”.