Sunday, January 23, 2011

“IOB Sampoorna” and “IOB Smile”



“IOB Sampoorna” and “IOB Smile” schemes
Indian Overseas Bank has kicked off its 75th Anniversary Celebrations’.

As part of the 75th Anniversary Celebrations, IOB has identified 75 villages across the country and launched IOB Sampoorna and IOB Smile, as part of its Corporate Social Responsibility.

The following are few of the facilities that the citizens of the 75 villages can look forward to: -
1.     All the eligible residents are provided with a No Frills Savings Account in the bank,
2.     Biometric cards
3.     An overdraft of Rs 1,000 if requested by the beneficiary

As IOB has not yet updated its website with the details of Sampoorna and Smile Schemes, the link is not provided.

IOB commenced its operations in 1937: Shri.M.Ct.M. Chidambaram Chettyar establishes the Indian Overseas Bank (IOB) to encourage overseas banking and foreign exchange operations.

As the name suggested the focus was on overseas banking from Day 1.

IOB started up simultaneously at three branches, one each in Karaikudi, Madras (Chennai) and Rangoon (Yangon). It then quickly opened a branch in Penang and another in Singapore. The bank served the Nattukottai Chettiars,

M.Ct.M.Chidambaram Chettyar was popularly known as M.CT. 

Apart from founding Indian Overseas Bank he also founded two Insurance Companies vis  The United India Life Assurance Co.Ltd and, The United India Fire & General Insurance Co.Ltd., that proved as successful as his previous venture.

Nattukottai Chettiars,   hail from the Sivagangai and Pudukottai districts of Tamil Nadu State in India. 

They are often referred to as Nattukottai Chettiars to distinguish them from other groups of Chettiars. The term "Nattukottai Chettiars" means "people with palatial houses in the countryside".

Nattukottai Chettiars,  are a part of the larger Vysya Clan i.e the Trading Community of India.

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