Chennai, Feb 14: Indian Overseas Bank (IOB), one of India’s leading public sector banks, marked its 90th Foundation Day by launching two significant initiatives aimed at strengthening India’s startup ecosystem and deepening financial inclusion in rural communities.
The Bank expanded its dedicated Startup Banking Network and introduced ‘IOB Gram Sweekar’, a focused rural outreach programme. The initiatives were unveiled virtually by Shri M. Nagaraju, Secretary, Department of Financial Services, along with the Bank’s top management.
Building on the success of its first startup-focused branch in Chennai, IOB has now operationalised exclusive Startup Banking branches in Delhi, Mumbai and Bengaluru.
Since its launch in June 2024, the Chennai startup branch has supported 33 startups operating in emerging sectors such as electric vehicles (EVs), clean energy and robotics, and has handled business exceeding ₹100 crore as of January 31, 2026.
With expansion into key innovation hubs, the Bank aims to provide tailored financial solutions, advisory support and structured credit access to empower early-stage and growth-oriented enterprises.
Under the ‘IOB Gram Sweekar’ initiative, the Bank has adopted 90 Gram Panchayats across 14 districts in Tamil Nadu, and Thiruvananthapuram district in Kerala.
The programme focuses on strengthening credit delivery, enhancing financial literacy and ensuring universal access to the Bank’s flagship financial products and services. Through structured engagement with rural communities, IOB aims to accelerate inclusive growth at the grassroots level.
Speaking on the occasion, Mr. Ajay Kumar Srivastava, MD & CEO, Indian Overseas Bank, said,
“These initiatives underscore IOB’s future-ready approach, combining technology, outreach and collaboration to serve the evolving needs of citizens, entrepreneurs and communities. The Bank remains committed to innovating and expanding its services to contribute meaningfully to India’s economic progress”.
As it enters its 10th decade, IOB continues to position itself as a future-ready institution — aligning growth, technology and outreach to support India’s evolving development priorities.
