HYDERABAD: It was a day when the regional offices of Indian Overseas Bank (IOB) in Hyderabad sanctioned loans worth ` 6.70 crore to 90 account-holders of micro, small and medium-sized enterprises (MSMEs), apart from holding tree plantation drives, blood donation camps and distribution of clothes and fruits to orphans.
Founded by Chidambaram Chettiar on February 10, 1937, IOB celebrated its 80th year of existence on Friday. General manager Krishan Lal and employees took a pledge to further improve their customer outreach.
Speaking after sanctioning loans to business customers, Krishan Lal instructed bank managers to “hand-hold” their patrons. He advised the customers to treat their banker like a doctor and not hide anything.
“Payment banks do not constitute a threat but complement traditional banks as they can widen the customer base,” observed Krishan Lal and said he expected the Centre to infuse ` 1,500 crore into IOB as part of 2016-17 budget package of ` 3,191 crore.