Bank: INDIAN OVERSEAS BANK
Address: C-116, BAZAR STREET, VRIDHCHALAM 606 001.
State: TAMIL NADU
District: CUDDALORE (Click here for all the branches of “INDIAN OVERSEAS BANK” in “CUDDALORE” District)
Contact: P SURESH KUMAR, SENIOR MANAGER, INDIAN OVERSEAS BANK, FUNDS DEPARTMENT, CENTRAL OFFICE, PHONE-044-28519488, EMAIL:FUNDS@IOBNET.CO.IN
IFSC Code: IOBA0001088 (used for RTGS, IMPS and NEFT transactions)
Branch Code: Last six characters of IFSC Code represent Branch code.
MICR Code: 606020202
Indian Financial System Code (IFSC). It is used for electronic payment applications like Real Time Gross Settlement (RTGS), National Electronic Funds Transfer (NEFT), Immediate Payment Service, an interbank electronic instant mobile money transfer service (IMPS), and Centralised Funds Management System (CFMS) developed by Reserve Bank of India (RBI). Code has eleven characters “Alpha Numeric” in nature. First four characters represent bank, fifth character is default “0” left for future use and last six characters represent branch.
Indian Overseas Bank (IOB) is a major public sector bank based in Chennai (Madras), with about 3700 domestic branches, including 1150 branches in Tamil Nadu, 3 extension counters, and eight branches and offices overseas as of 30 September 2014. Indian Overseas Bank has an ISO certified in-house Information Technology department, which had developed the software that its branches used to provide online banking to customers earlier.The bank has achieved 100% networking status as well as 100% CBS status for its branches. IOB also has a network of about 3300 ATMs all over India.The bank has taken a late leap towards internet-enabled banking and data analytics by implementing Infosys Finacle’s latest rack of software executed by American technology company HPE and became the first public sector bank to get the latest digital banking software, Finacle 10 suite package from Infosys.
IOB has branches in Singapore, Hong Kong, Colombo, Seoul, and Bangkok. It has representative offices in Guangzhou, Vietnam, and Dubai. IOB also is part-owner of a joint-venture bank in Malaysia.
The net profit for the quarter ended 30 June 2014 stood at INR 272 Crores. The Business touched INR 4,20,739 Crores(YoY Growth 8.16%) for the quarter ended 30 September 2014. Deposits stood at INR 2,39,223 Crores(YoY Growth 12.47%), CASA stood at 23.76%, Advances stood at INR 1,81,515 Crores(YoY Growth 2.96%) Operating Profit for Q2 14-15 is INR 729 Crores.