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Indian Overseas Bank IFSC Code Palavakkam Branch, MICR code, Address

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Indian Overseas Bank News - Sep 2017
  • 2017-08-18 : IOB organises ‘Retail Utsav’ in Delhi
    Indian Overseas Bank (IOB) has organised a ‘Retail Utsav’ across all its bank branches in Delhi. In its statement, the bank has told that it has sanctioned approximately Rs. 44 crore under various retail and MSME loans scheme to its bank customers at the function. Meanwhile, the bank also plans to lend greater focus on retail lending to cater to increased demand from customers.
  • 2017-08-11 : IOB cuts losses to Rs. 499 crore in first quarter
    Indian Overseas Bank has significantly reduced its net losses to Rs. 499 crore during the first quarter of FY18 as against Rs. 1,450 crore during the corresponding quarter of the previous fiscal year. The bank has managed to cut the losses due to increase in the recovery of NPA accounts.
  • 2017-08-02 : IOB to strengthen lending to mid corporates, jewellery loans segment
    In a bid to drive its income growth, Indian Overseas Bank (IOB) is setting its target to refocus on low risk mid corporates and jewellery loan segment. For this purpose, the bank has also undertaken several initiatives in these segments to further improve its profit. Meanwhile, the bank also aims to focus on its housing loan segment as a part to transform its retail lending.
  • 2017-07-31 : Indian Overseas Bank implements NPCI’s Bharat Bill Payment System
    Public sector lender, Indian Overseas Bank has started offering the facility of integrated bill payment system to its customers which will ease the process of making bill payments online. Apart from IOB, the banks including Bank of Baroda and Union Bank of India have also recently announced the incorporation of the BBPS system for its customers.
  • 2017-07-26 : Indian Overseas Bank initiates turnaround plan
    Public sector lender, Indian Overseas Bank (IOB) is in the process of preparing a turnaround plan. The Finance Ministry has informed that along with IOB, several public lenders including Allahabad Bank, Bank of India, Central Bank of India, Andhra Bank, Union Bank of India, UCO Bank and Dena Bank have also submitted their turnaround plan to them. With this move, the bank targets to improve its operating profit and lending portfolio.
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