Indian Overseas Bank Inaugurates 126th ATM In Puducherry And Virtually Opens New Branch In Nagapattinam – Indian PSU

Indian Overseas Bank (IOB) celebrated a significant milestone with the inauguration of its 126th ATM in the Puducherry region at the well-known tourist destination, Promenade Pony Marina. This ATM was officially opened by Shri Ajay Kumar Srivastava, Managing Director & CEO of IOB. He was accompanied by Shri Anand Ganesh, CEO of Pondy Marina Eco Beach, CRM Shri R. Rakesh, and other notable officials.

During the event, Mr. Srivastava also virtually inaugurated IOB’s 3240th branch located at the Medical College in Nagapattinam. Furthermore, he announced the relocation to new premises of the Lalpettai branch, aimed at enhancing banking services in the rural and unbanked areas of the Cuddalore district.

In his address, Mr. Srivastava emphasized the bank’s ambitious expansion strategy, revealing plans to open 88 new branches across India within the year. Of these, 8 branches will be strategically established in the districts of Puducherry, Cuddalore, Nagapattinam, and Mayiladuthurai.

IOB is committed to rolling out innovative banking products that meet the evolving needs of its customers. The bank’s total business has surpassed Rs. 5 lakh crores, reflecting robust growth that ranks among the best in the sector.

Additionally, IOB has introduced new jewel loan products, offering competitive interest rates and no processing charges to attract more customers. The bank’s 444-day deposit scheme also stands out as one of the most lucrative in the market, providing attractive returns to depositors.