Chennai, February 14 Marking its 90th Foundation Day, the public sector Indian Overseas Bank has strengthened its startup banking network by inaugurating 'Startup Banking' branches, a top official said on Saturday.
The Chennai-headquartered bank also launched its rural outreach program '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, in addition to 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 meaningfully to India's economic progress, he added.
The 'Gram Sweekar' program 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.
Regarding the launch of the 'Startup Banking Branch Network,' the lender said it has operationalized 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 Rs 100 crore as of January 31, 2026.