Commemorating its 90th Foundation Day, public sector Indian Overseas Bank has strengthened its startup banking network with the inauguration of ‘Startup Banking’ branches, a top official said on Saturday.
The Chennai-headquartered bank also launched its rural outreach programme ‘IOB Gram Sweekar’ under which 90 Gram Panchayats across 14 districts in Tamil Nadu and in Thiruvananthapuram, Kerala, were adopted.
“Indian Overseas Bank, marked its 90th Foundation Day by launching two significant initiatives aimed at strengthening India’s startup ecosystem besides focusing on deepening financial inclusion in rural communities,” the bank said in a statement on Saturday.
Commenting on the occasion, the bank’s Managing Director and CEO Ajay Kumar Srivastava said such 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 meaningfuly to India’s economic progress, he added.
The ‘Gram Sweekar’ 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,” the statement said.
On the launch of ‘Startup Banking Branch Network’, the lender said it has operationalised exclusive Startup Banking branches in Delhi, Mumbai and Bengaluru following the success of its maiden ‘Startup Banking’ branch in Chennai.
Launched in June 2024, the Startup Banking Branch in Chennai supported 33 startups focused in sectors like electric vehicles, clean energy and robotics and has handled business of over ₹100 crore as of January 31, 2026.
Published on February 14, 2026
