Indian Overseas Bank (IOB) has expanded its dedicated Start-up Banking Network to Delhi, Mumbai and Bengaluru, building on the success of its first exclusive start-up branch launched in Chennai.
The Chennai start-up branch has supported 33 start-ups operating in emerging sectors such as electric vehicles (EVs), clean energy and robotics, handling business exceeding Rs 100 crore. Encouraged by this response, the public sector lender is scaling its specialised banking services to key innovation hubs across the country.
In addition to strengthening its start-up ecosystem engagement, IOB has launched ‘IOB Gram Sweekar’, a focused rural outreach initiative aimed at enhancing credit delivery, improving financial literacy and ensuring universal access to the bank’s flagship financial products and services. The programme will initially cover 90 gram panchayats across 14 districts in Tamil Nadu and the Thiruvananthapuram district of Kerala.
The new initiatives were inaugurated by M Nagaraju, Secretary, Department of Financial Services, along with the bank’s top management, as part of IOB’s 90th Foundation Day celebrations.
Ajay Kumar Srivastava, MD & CEO, Indian Overseas Bank, said the initiatives reflect the bank’s future-ready approach, combining technology, outreach and collaboration to serve the evolving needs of entrepreneurs, citizens and communities. He added that the bank remains committed to expanding its services and contributing meaningfully to India’s economic growth.
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