On September 14, as the nation celebrated Hindi Day and the Diamond Jubilee of the Official Language, Indian Overseas Bank (IOB) achieved a remarkable milestone. The bank was honored with the Rajbhasha Kirti First Prize in the Official Language Implementation category for the year 2023-24. The award ceremony was held at the prestigious Bharat Mandapam in New Delhi, adding a touch of grandeur to the occasion.
Indian Overseas Bank Honoured with Rajbhasha Kirti Pratham Puraskar pic.twitter.com/jDqb7G2AiV
— Hellobanker (@Hellobanker_in) September 15, 2024
A Proud Moment for Indian Overseas Bank
The Rajbhasha Kirti First Prize is a significant accolade, and this year, it was awarded to Shri Ajay Kumar Srivastava, the Managing Director and CEO of Indian Overseas Bank. This is the second consecutive year IOB has won this esteemed prize, a testament to their consistent efforts and commitment to promoting Hindi.
A special highlight of the event was the release of the book ‘Bhasha Sangam’ by Shri Amit Shah, the Union Home and Cooperation Minister. This book, created by IOB, is designed to help employees learn 19 different scheduled Indian languages from Hindi, reflecting the bank’s dedication to linguistic diversity and inclusion.
Words of Pride from the Leadership
Shri Ajay Kumar Srivastava expressed his joy and pride, stating, “This honour is a matter of pride for our bank. I congratulate all the officers and employees of my bank; their dedication, hard work, and mutual cooperation have made this achievement possible. There is a wave of happiness among the officers and employees of Indian Overseas Bank on receiving the Rajbhasha Kirti Pratham Puraskar.”
This award underscores IOB’s commitment to enhancing the use of Hindi and effectively implementing official language policies throughout its operations.
About Indian Overseas Bank (IOB)
Founded on February 10, 1937, by Shri M.Ct.M. Chidambaram Chettyar, Indian Overseas Bank has a rich history. It was nationalized by the Indian government in 1969, becoming one of the major banks under government control.
Today, IOB has a strong domestic presence with 3,264 branches, 3,500 ATMs, and 7,251 business correspondents. It also operates in four countries: Singapore, Hong Kong, Thailand, and Sri Lanka, serving 41 million active customers.
As of June 30, 2024, IOB’s total business has reached ₹5,28,773 crores. The bank has shown impressive growth in low-cost CASA deposits and has performed well in retail, agriculture, and MSME segments, which contribute to 70.83% of domestic advances. For the quarter ending June 30, 2024, IOB reported an operating profit of ₹1,676 crores and a net profit of ₹633 crores.
Leading the Way in Digital Innovation
Indian Overseas Bank is also known for its innovative digital solutions that enhance customer experience. The bank boasts a state-of-the-art technology stack, including:
- Top-Rated Core Banking Solutions: For efficient and reliable banking operations.
- Private Cloud and Container Orchestration: For flexible and scalable application management.
- API Hub: For seamless integration and collaboration.
- Integrated Payment Hub: For handling various payment types and high transaction volumes.
IOB has introduced several new features, such as:
- Tab Banking: Allowing staff to deliver services anytime, anywhere.
- My Account My Name: Letting customers name their accounts as they wish.
- Instant Safe Deposit Locker: Accessible through a web portal.
- Instant Account Number Portability and Instant Jansuraksha Policy Enrollment: For enhanced customer convenience.
These advancements reflect IOB’s commitment to providing top-notch banking services and a superior customer experience.
