IOB meaning in Public Sector Bank in India ?

Public Sector Bank in India Miscellaneous in Public Sector Bank in India . 2 weeks ago

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What is Indian Overseas Bank mean?

Indian Overseas Bank (IOB) is a major Indian nationalised bank. It is under the ownership of Ministry of Finance, Government of India based in Tamilnadu, India, with about 3,400 domestic branches, about 6 foreign branches and representative office. Founded in February 1937 by M. Ct. M. Chidambaram Chettyar with twin objectives of specialising in foreign exchange business and overseas banking, it has created various milestones in Indian Banking Sector. During the nationalisation, IOB was one of the 14 major banks taken over by the government of India. It is one of the two banks recommended for privatization by NITI ayog as per various news reports. As on 31 March 2021, IOB's total business stands at ₹379,885 crore (US$50 billion).

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Posted on 28 Dec 2024, this text provides information on Public Sector Bank in India related to Miscellaneous in Public Sector Bank in India. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.

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