Launched in June 2024, the Chennai startup arm has backed 33 startups operating in emerging sectors such as electric vehicles, clean energy and robotics, handling cases of over ₹100 crore.
The bank has also introduced ‘IOB Gram Sweekar’, a targeted rural development programme. The program will focus on strengthening lending, increasing financial literacy and ensuring universal access to the Bank’s key financial products and services. The bank plans to initiate 90 gram panchayats in 14 districts in Tamil Nadu and Thiruvananthapuram districts of Kerala.
The initiatives were inaugurated by M. Nagaraju, Secretary, Ministry of Financial Services, along with the Bank’s top management, as part of the 90th foundation anniversary of IOB.
“These initiatives underscore IOB’s forward-looking approach, combining technology, outreach and collaboration to meet the evolving needs of citizens, entrepreneurs and communities. The Bank remains committed to innovation and expanding its services to meaningfully contribute to India’s economic progress,” said Ajay Kumar Srivastava, MD & CEO, Indian Overseas Bank.
Published on February 15, 2026
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