Indian Overseas Bank (IOB)

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Overview

Indian Overseas Bank (IOB) is Indian state-owned commercial bank + NSE: IOB BSE: 532388 + Government of India Ministry of Finance ~96%+ controlling + Indian retail + institutional investors free float + one of India's mid-sized state commercial banks + founded Feb 10 1937 in Chennai India as Indian Overseas Bank by M. Chidambaram Chettyar + Jul 19 1969 Indian banking nationalisation [1, in-cro].

History

Feb 10 1937 — Indian Overseas Bank IOB founded in Chennai India by M. Chidambaram Chettyar as Indian commercial bank specifically targeting Indian diaspora overseas remittance + commercial banking distinctive Indian banking heritage.

Jul 19 1969 — IOB nationalised under Indira Gandhi-era Indian Banking Nationalisation Act consolidating IOB into Government of India-owned commercial bank.

2014 — IOB Mobile banking app launch.

Ownership & operator

Operating entity: Indian Overseas Bank IOB (Indian state-owned commercial bank; NSE: IOB; BSE: 532388).

Major shareholders: Government of India Ministry of Finance ~96%+ controlling + Indian retail + institutional investors free float.

Regulators: Reserve Bank of India RBI + national regulators across 7+ countries.

Technical integration

IOB Mobile app (iOS + Android) + iob.in online + Indian Overseas Bank branch network across India + Singapore + Hong Kong + Malaysia + Thailand + South Korea + Sri Lanka international branches + IOB Visa + Mastercard + RuPay cards; RuPay Indian national card scheme + EMVCo QRCPS QR payments + Bharat QR (Indian national QR payment scheme) + UPI Unified Payments Interface (Indian instant payments) + Indian Rupee INR domestic transfers.

Implementations & partners

Major Indian banking + payments competitors: [[sbi-india]] (State Bank of India SBI) + [[hdfc-bank]] (HDFC Bank) + [[icici-bank]] (ICICI Bank) + [[axis-bank]] (Axis Bank) + [[kotak-mahindra]] (Kotak Mahindra Bank) + [[pnb-india]] (Punjab National Bank PNB) + [[canara-bank]] (Canara Bank) + [[bob-india]] (Bank of Baroda BOB) + [[upi]] (Unified Payments Interface UPI).

Regulators: Reserve Bank of India RBI + national regulators across 7+ countries.

Status

Active, Indian state-owned commercial bank + NSE:IOB BSE:532388 + Government of India Ministry of Finance ~96%+ controlling + one of India's mid-sized state commercial banks + founded Feb 10 1937 in Chennai India as Indian Overseas Bank by M. Chidambaram Chettyar + Jul 19 1969 Indian banking nationalisation [1, 2].

Sources

1 IOB — official
2 IOB — Wikipedia
in-cro In-corpus: reports/countries/IN-india.md

Source

Biography extracted from iob-india.md. See matrix.md for standards-support matrix if present.