About Indian Overseas Bank Founded on February 10, 1937 by M. Ct. M. Chidambaram Chettyar with the twin objectives of specialising in foreign exchange business and overseas banking, Indian Overseas Bank (IOB) has ever since created various milestones in Indian Banking Sector. IOB is today a leading public sector bank headquartered in Chennai (India). The bank has the distinction of simultaneously commencing operations in three branches at Karaikudi, Chennai and Yangon (Myanmar). Since the bank aimed to encourage overseas banking and foreign exchange operations, it soon opened its branches in Penang and Singapore. Today, Indian Overseas Bank covers a vast domain in the banking sector with over 3216 domestic branches, 3223 ATMs and 4 overseas branches. IOB is now aggressively focussing on ‘Digital Banking’, with a view to doing away with all the paperwork like cheques, pay-in slips, demand drafts and so on, through its robust digital platform.