{"id":19970,"date":"2021-06-15T15:08:23","date_gmt":"2021-06-15T15:08:23","guid":{"rendered":"http:\/\/faceinews.com\/?p=19970"},"modified":"2021-06-15T15:08:23","modified_gmt":"2021-06-15T15:08:23","slug":"indian-overseas-bank-central-office-chennai-performance-highlights-31-03-2021","status":"publish","type":"post","link":"https:\/\/www.faceinews.com\/?p=19970","title":{"rendered":"Indian Overseas Bank Central Office Chennai Performance Highlights \u2013 31.03.2021"},"content":{"rendered":"

Indian Overseas Bank Central<\/strong>\u00a0Office\u00a0Chennai Performance Highlights \u2013 31.03.2021\u00a0<\/strong><\/p>\n

\"Faceinews<\/a><\/p>\n

Chennai – 14.06.2021<\/strong><\/p>\n\n\n\n
Performance Highlights \u2013 31.03.2021<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/span><\/p>\n

\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0(Rs. In Crores)<\/strong><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/strong><\/td>\n31.03.2021<\/strong><\/p>\n

(Q4)<\/strong><\/td>\n

31.03.2020 (Q4)<\/strong><\/td>\n\u00a0<\/strong><\/td>\n31.03.2021 (12 M)<\/strong><\/td>\n31.03.2020 (12 M)<\/strong><\/td>\n\u00a0<\/strong><\/td>\n<\/tr>\n
Operating Profit<\/td>\n1724<\/td>\n1197<\/td>\n<\/td>\n5896<\/td>\n3534<\/td>\n<\/td>\n<\/tr>\n
Net Profit \/ Loss<\/td>\n350<\/td>\n144<\/td>\n<\/td>\n831<\/td>\n(8527)<\/td>\n<\/td>\n<\/tr>\n
Deposits<\/td>\n240288<\/td>\n222952<\/td>\n<\/td>\n240288<\/td>\n222952<\/td>\n<\/td>\n<\/tr>\n
Gross Advances<\/td>\n139597<\/td>\n134771<\/td>\n<\/td>\n139597<\/td>\n134771<\/td>\n<\/td>\n<\/tr>\n
Investments<\/td>\n98412<\/td>\n82029<\/td>\n<\/td>\n98412<\/td>\n82029<\/td>\n<\/td>\n<\/tr>\n
Business Mix<\/td>\n379885<\/td>\n357723<\/td>\n<\/td>\n379885<\/td>\n357723<\/td>\n<\/td>\n<\/tr>\n
CASA<\/td>\n102165<\/td>\n89751<\/td>\n<\/td>\n102165<\/td>\n89751<\/td>\n<\/td>\n<\/tr>\n
CASA Ratio<\/td>\n42.52%<\/td>\n40.26%<\/td>\n<\/td>\n42.52%<\/td>\n40.26%<\/td>\n<\/td>\n<\/tr>\n
Gross NPA<\/td>\n16323<\/td>\n19913<\/td>\n<\/td>\n16323<\/td>\n19913<\/td>\n<\/td>\n<\/tr>\n
Net NPA<\/td>\n4578<\/td>\n6603<\/td>\n<\/td>\n4578<\/td>\n6603<\/td>\n<\/td>\n<\/tr>\n
Net Interest Margin<\/td>\n2.22%<\/td>\n2.60%<\/td>\n<\/td>\n2.39%<\/td>\n2.03%<\/td>\n<\/td>\n<\/tr>\n
Gross NPA Ratio<\/td>\n11.69%<\/td>\n14.78%<\/td>\n<\/td>\n11.69%<\/td>\n14.78%<\/td>\n<\/td>\n<\/tr>\n
Net NPA Ratio<\/td>\n3.58%<\/td>\n5.44%<\/td>\n<\/td>\n3.58%<\/td>\n5.44%<\/td>\n<\/td>\n<\/tr>\n
Cost to Income Ratio<\/td>\n49.58%<\/td>\n54.43%<\/td>\n<\/td>\n48.54%<\/td>\n59.21%<\/td>\n<\/td>\n<\/tr>\n
PCR<\/td>\n90.34%<\/td>\n86.94%<\/td>\n<\/td>\n90.34%<\/td>\n86.94%<\/td>\n<\/td>\n<\/tr>\n
CRAR<\/td>\n15.32%<\/td>\n10.72%<\/td>\n<\/td>\n15.32%<\/td>\n10.72%<\/td>\n<\/td>\n<\/tr>\n
RoE<\/td>\n21.33%<\/td>\n19.63%<\/td>\n<\/td>\n13.21%<\/td>\n(163.72)<\/td>\n<\/td>\n<\/tr>\n
RoA<\/td>\n0.50%<\/td>\n0.20%<\/td>\n<\/td>\n0.31%<\/td>\n(2.95)<\/td>\n<\/td>\n<\/tr>\n
CD Ratio<\/td>\n58.10%<\/td>\n60.45%<\/td>\n<\/td>\n58.10%<\/td>\n60.45%<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The Bank has posted yearly net profit of Rs.831 crores for the year ended 31.03.2021 after 6 years.<\/strong><\/p>\n

\u00a0<\/strong><\/p>\n\n\n\n\n\n\n
 <\/td>\n12(M)<\/td>\nVariance<\/td>\n<\/tr>\n
31.03.2021<\/td>\n31.03.2020<\/td>\nRs. in crore<\/td>\n% Growth<\/td>\n<\/tr>\n
Operating Profit<\/td>\n5896<\/td>\n3534<\/td>\n2362<\/td>\n66.84%<\/td>\n<\/tr>\n
Net Profit<\/td>\n831<\/td>\n(8527)<\/td>\n9358<\/td>\nPositive Growth<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/strong><\/p>\n

    \n
  • The Bank plans to come out of Prompt Corrective Action by focusing on Recovery, low cost deposits and less capital consuming advances.<\/li>\n
  • Profit for the quarter ended 31.03.2021 recorded at Rs.350 crores as against Rs.213 crores for the quarter ended 31.12.2020.<\/li>\n
  • Net NPA has stood at 3.58% which is within prescribed RBI guidelines.<\/li>\n
  • During the quarter GNPA reduced by Rs.430 crore.\u00a0 GNPA ratios \u00a0reduced to 11.69% \u00a0from 14.78%\u00a0 QoQ<\/li>\n
  • The provision coverage ratio improved to 90.34%<\/li>\n<\/ul>\n

    \u00a0<\/u><\/strong><\/p>\n

    Performance Highlights for the Financial Year ended March 31, 2021<\/u><\/strong><\/p>\n

    \n

      \n
    1. CASA of the Bank improved to 42.52% (Domestic 42.70%) as on 31st<\/sup>\u00a0March 2021 as against 40.26% (Domestic 40.67%) as on 31st<\/sup>\u00a0March 2020. Total CASA has increased from Rs.89,751 crores as on 31.03.2020 to Rs.1,02,165 crores as on 31.03.2021,and registered 13.83% growth as at 31st<\/sup>\u00a0March \u201921 over 31st<\/sup>\u00a0March \u201820.<\/li>\n<\/ol>\n

      \n

        \n
      1. Total business\u00a0<\/strong>stood at Rs.3,79,885 crore as on 31st<\/sup>\u00a0March 2021 as against Rs.3,57,723\u00a0 crore as on 31st<\/sup>\u00a0March 2020 (Increase of 6.20%).<\/li>\n<\/ol>\n

        \n

          \n
        1. Total deposits increased to\u00a0<\/strong>Rs.2,40,288\u00a0<\/strong>crore as on 31st<\/sup>\u00a0March 2021 as against Rs.2,22,952 crore as on 31st<\/sup>\u00a0March 2020. The Bank has reduced the concentration of Bulk Deposits and high cost deposits and increased Retail Term Deposits to have a stable and sustainable deposit profile and reduce the cost of funds.<\/li>\n<\/ol>\n

          \n

            \n
          1. Gross Advances\u00a0stood at Rs.1,39,597 crore as on 31st<\/sup>\u00a0March 2021 as against Rs.1,34,771 crore as on 31st<\/sup>\u00a0March 2020. The Bank has evolved a policy of not taking fresh exposures in stressed sectors, below hurdle rated accounts and BB and below rated accounts. The Bank has also exited from accounts in the stressed sectors, wherever feasible.<\/li>\n<\/ol>\n

            \n

              \n
            1. Operating Profit for the year ended 31.03.2021 stood at Rs.5,896 crore as against of Rs.3,534 crore on 31.03.2020 which is an increase of 67% over the previous year.<\/li>\n<\/ol>\n

              \n

                \n
              1. Total income for the year ended 31.03.2021 stands at Rs.22,525 crore as against Rs.20,766 crore for the previous year (2019-20)<\/li>\n<\/ol>\n

                \n

                  \n
                1. Interest income stands at Rs.16,966 crore for the year ended 31.03.2021.<\/li>\n<\/ol>\n

                  \n

                    \n
                  1. Other income stands at Rs.5,559 crores for the year ended 31.03.2021.<\/li>\n<\/ol>\n

                    \n

                      \n
                    1. Total Expenditure stands at Rs.16,629 crore for the year ended 31st<\/sup>\u00a0March 2021 which is reduced as against Rs.17,232 crores for the year ended 31st<\/sup>\u00a0March 2020.<\/li>\n<\/ol>\n

                      \n

                      Cost to Income decreased from 59.21% as at March \u201920 to 48.54% as at March \u201921.<\/p>\n

                      \n

                        \n
                      1. Recovery in NPA accounts for the year ended 31.03.2021 is Rs.6,831 crores.<\/li>\n<\/ol>\n

                        \n

                        –\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0GNPA reduced from 14.78% as at March \u201920 to 11.69% as at March \u201921.<\/p>\n

                        –\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0NNPA reduced from 5.44% as at March \u201920 to 3.58% as at March\u201921<\/p>\n

                        \n

                        –\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Provision Coverage Ratio (PCR) improved from 86.94% as at March \u201920 to 90.34% as at March \u201821<\/p>\n

                        \u00a0<\/u><\/strong><\/p>\n

                        Performance Highlights for the Quarter ended March 31, 2021 QoQ (Sequential) ie\u00a0 Dec,31.2020<\/u><\/strong><\/p>\n

                        \u00a0<\/u><\/strong><\/p>\n

                          \n
                        1. Total business\u00a0stood at Rs.3,79,885 crore as on 31st<\/sup>\u00a0March 2021 as against Rs.3,71,585 as on 31st<\/sup>\u00a0December 2020.<\/li>\n<\/ol>\n

                          \u00a0<\/u><\/strong><\/p>\n

                            \n
                          1. Total deposits\u00a0stood at Rs.2,40,288 crore as on 31st<\/sup>\u00a0March 2021 as against Rs.2,34,116 as on 31st<\/sup>\u00a0December 2020.<\/li>\n<\/ol>\n

                            \u00a0<\/u><\/strong><\/p>\n

                              \n
                            1. CASA of the\u00a0<\/strong>stood at 42.52% as on 31st<\/sup>\u00a0March 2021 as against 40.93% as on 31st<\/sup>\u00a0December 2020.<\/li>\n<\/ol>\n

                              \u00a0<\/u><\/strong><\/p>\n

                                \n
                              1. Gross Advances\u00a0<\/strong>stood at Rs.1,39,597 crore as on 31st<\/sup>\u00a0March 2021 as against Rs.1,37,469 crore as on 31st<\/sup>\u00a0December 2020. Bank focused on re-aligning its loan book for efficient capital utilization.<\/li>\n<\/ol>\n

                                \n

                                  \n
                                1. Operating Profit stood at Rs.1,724 crore for quarter ended 31st<\/sup>\u00a0March 2021 as against Rs.1,731 crore for the quarter ended 31st<\/sup>\u00a0December 2020.<\/li>\n<\/ol>\n

                                  \n

                                    \n
                                  1. Net profit for the quarter ended 31st<\/sup>\u00a0March 2021 is Rs.350 crore as against Rs.213 crore as on 31st<\/sup>\u00a0December 2020.<\/li>\n<\/ol>\n

                                    \n

                                      \n
                                    1. Total income is Rs.6,074 crore for the quarter ended 31st<\/sup>\u00a0March 2021 as against Rs.5,787 crore for the quarter ended 31st<\/sup>\u00a0December 2020.<\/li>\n<\/ol>\n

                                      \n

                                        \n
                                      1. Interest income stood at Rs.4,057 crore for the quarter ended 31st<\/sup>\u00a0March 2021 as against Rs.4,244 crore for the quarter ended 31st<\/sup>\u00a0December 2020.<\/li>\n<\/ol>\n

                                        \u00a0<\/u><\/strong><\/p>\n

                                          \n
                                        1. Other \u00a0income increased to Rs.2,016 crore for the quarter ended 31st<\/sup>\u00a0March 2021 as against Rs.1,543 crore for the quarter ended 31st<\/sup>\u00a0December 2020.<\/li>\n<\/ol>\n

                                          \n

                                            \n
                                          1. Total Expenditurestood at\u00a0<\/strong>Rs.4,349 crore for the quarter ended 31st<\/sup>\u00a0March 2021 as against Rs.4,055 crore for the quarter ended 31st<\/sup>\u00a0December 2020.<\/li>\n<\/ol>\n

                                            \n

                                              \n
                                            1. NPA MANAGEMENT: Gross NPA as at 31st<\/sup>\u00a0March 2021 stood at Rs.16323 crore as against Rs.16,753 crore as at 31st<\/sup>\u00a0December 2020.<\/li>\n<\/ol>\n

                                              \n

                                                \n
                                              1. Recovery\u00a0<\/strong>made Rs.3934 crore for the quarter ended March \u201921 as against Rs.1625 crore as at 31st<\/sup>\u00a0December 2020.<\/li>\n<\/ol>\n

                                                \n

                                                  \n
                                                1. Net NPA as at 31st<\/sup>March 2021 and stood at Rs.4,578 crore with ratio of 3.58% as against Rs.3,905 crore with ratio of 3.13% as on 31st<\/sup>\u00a0December 2020.<\/li>\n<\/ol>\n

                                                  \u00a0<\/strong><\/p>\n

                                                    \n
                                                  1. Provision Coverage Ratio stood at 90.34% as on 31st<\/sup>March 2021 as against 91.91% as on 31st<\/sup>\u00a0December 2020.<\/li>\n<\/ol>\n

                                                    \u00a0<\/strong><\/p>\n

                                                    Performance Highlights for the Quarter ended March 31, 2021 – Q4 March\u201921 over Q4 March\u201820<\/u><\/strong><\/p>\n

                                                    \u00a0<\/strong><\/p>\n

                                                      \n
                                                    1. Deposits stood at Rs.2,40,288 as on 31.03.2021 as against Rs.2,22,952 on 31.03.2020.<\/li>\n<\/ol>\n

                                                      \n

                                                        \n
                                                      1. Gross Advances\u00a0stood at Rs.1,39,597 crore as on 31st<\/sup>\u00a0March 2021 as against Rs.1,34,771 crore as on 31st<\/sup>\u00a0March 2020.<\/li>\n<\/ol>\n

                                                        \n

                                                          \n
                                                        1. Total business stood at Rs.3,79,885 crores \u00a0as on 31.03.2021 as against Rs.3,57,723 crores \u00a0on 31.03.2020.<\/li>\n<\/ol>\n

                                                          \n

                                                            \n
                                                          1. Operating Profit for quarter ended 31st<\/sup>\u00a0March 2021 registered growth of 44% and stood at Rs.1,724 crore as against Rs.1,197 crore for the quarter ended 31st<\/sup>\u00a0March 2020.<\/li>\n<\/ol>\n

                                                            \n

                                                              \n
                                                            1. Net Profit for the quarter ended 31st<\/sup>\u00a0March 2021 stood at \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Rs.350 crore as against Rs.144 crore for the quarter ended 31st<\/sup>\u00a0March 2020.<\/li>\n<\/ol>\n

                                                              \n

                                                                \n
                                                              1. Total income stood at Rs.6,074 crore for the quarter ended 31st<\/sup>\u00a0March 2021 as against Rs.5,537 crore for the quarter ended 31st<\/sup>\u00a0March 2020.<\/li>\n<\/ol>\n

                                                                \n

                                                                  \n
                                                                1. Interest income\u00a0<\/strong>stood at Rs.4057 crore for the quarter ended 31st<\/sup>\u00a0March 2021 as against Rs.4,442 crore for the quarter ended 31st<\/sup>\u00a0March 2020.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/strong><\/li>\n
                                                                2. Other income\u00a0<\/strong>increased to\u00a0Rs.2,016 crore for the quarter ended 31st<\/sup>\u00a0March 2021 as against Rs.1,095 crore for the quarter ended 31st<\/sup>\u00a0March 2020.<\/li>\n<\/ol>\n

                                                                  \n

                                                                    \n
                                                                  1. Total Expenditure for the quarter ended 31st<\/sup>\u00a0March 2021 continued to remain at Rs.4,350 crores.\u00a0\u00a0<\/strong>Operating expenses stood at Rs.1,695 crore for the quarter ended 31st<\/sup>\u00a0March 2021 as against Rs.1,430 crore for the quarter ended 31st<\/sup>\u00a0March 2020.<\/li>\n<\/ol>\n

                                                                    \n

                                                                      \n
                                                                    1. NPA MANAGEMENT: Gross NPA\u00a0<\/strong>as at 31st<\/sup>\u00a0March 2021 stood at Rs.16,323 crore with ratio of 11.69% as against Rs.19,913 crore with ratio of 14.78% as at 31st<\/sup>\u00a0March 2020.<\/li>\n<\/ol>\n

                                                                      \u00a0<\/u><\/strong><\/p>\n

                                                                        \n
                                                                      1. Recovery\u00a0<\/strong>made Rs.3934 crores for the quarter ended March \u201921 as against Rs.2377 crores for the quarter ended 31st<\/sup>\u00a0March 2020.<\/li>\n<\/ol>\n

                                                                        \n

                                                                          \n
                                                                        1. Net NPA\u00a0<\/strong>is contained to Rs.4,578 crore with ratio of 3.58% as at 31st<\/sup>\u00a0March \u201821 as against Rs.6,603 crore with ratio of 5.44% as on 31st<\/sup>\u00a0March \u201820.<\/li>\n<\/ol>\n

                                                                          \u00a0<\/strong><\/p>\n

                                                                            \n
                                                                          1. Provision Coverage Ratio is improved to 90.34% as on 31st<\/sup>\u00a0March 2021 as against 86.94% as on 31st<\/sup>\u00a0March 2020.<\/li>\n<\/ol>\n

                                                                            \u00a0<\/strong><\/p>\n

                                                                            v\u00a0\u00a0CAPITAL ADEQUACY RATIO (CRAR):<\/strong><\/p>\n\n\n\n\n\n\n\n
                                                                            Particulars<\/strong><\/td>\nBasel III as on 31.03.2021<\/strong><\/td>\nRegulatory Requirement<\/strong><\/td>\n<\/tr>\n
                                                                            CET 1<\/td>\n12.91%<\/td>\n5.50%<\/td>\n<\/tr>\n
                                                                            Tier I<\/td>\n12.91%<\/td>\n7.00%<\/td>\n<\/tr>\n
                                                                            Tier II<\/td>\n2.41%<\/td>\n2.00%<\/td>\n<\/tr>\n
                                                                            Total CRAR\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/strong><\/td>\n15.32%<\/strong><\/td>\n9.00%*<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

                                                                            * Excluding CCB<\/p>\n

                                                                            \n

                                                                            Total Capital includes Capital infusion by GOI of Rs.4100 cr received during FY 2020-21.<\/p>\n

                                                                            \n

                                                                            \u00a0v\u00a0\u00a0KEY FINANCIAL RATIOS:<\/strong><\/p>\n

                                                                            \u00a0<\/strong><\/p>\n

                                                                              \n
                                                                            • Credit Deposit Ratio\u00a0<\/strong>is 58.10% as on 31.03.2021 as against 60.45 % as on 31.03.2020<\/li>\n<\/ul>\n

                                                                              \u00a0<\/strong><\/p>\n

                                                                                \n
                                                                              • Average Cost of Deposit is 4.70% for the year ended 31.03.2021 as against 5.33% for the year ended 31.03.2020.<\/li>\n<\/ul>\n

                                                                                \n

                                                                                  \n
                                                                                • Average Yield on Advances\u00a0is 8.00% for the year ended 31.03.2021 as against 7.01% for the year ended 31.03.2020.<\/li>\n<\/ul>\n

                                                                                  \u00a0<\/strong><\/p>\n

                                                                                    \n
                                                                                  • Cost to Income Ratio is 48.54% for the year ended 31.03.2021 as against 59.21% for the year ended 31.03.2020.<\/li>\n<\/ul>\n

                                                                                    \n

                                                                                      \n
                                                                                    • Net Interest Margin\u00a0<\/strong>is 2.39% for the quarter ended 31.03.2021 as against 2.03% for the year ended 31.03.2021.<\/li>\n<\/ul>\n

                                                                                      \n

                                                                                      v\u00a0\u00a0\u00a0\u00a0CAPITAL INFUSION BY GOVERNMENT OF INDIA<\/strong><\/p>\n

                                                                                      \u00a0<\/strong><\/p>\n

                                                                                      On 31.03.2021, the Bank has received Rs.4100 crores as capital infusion by the Government of India\u00a0for which the Bank has allotted\u00a0246,54,23,932\u00a0equity shares of Rs.10\/- each for cash at Issue Price of Rs.16.63 per equity share (including premium of Rs.6.63 per equity share) on preferential basis, to Government of India. Upon allotment made,\u00a0GOI\u2019s shareholding increased to 96.38% from 95.84%.<\/p>\n

                                                                                      \u00a0<\/strong><\/p>\n

                                                                                      Developments \/ Initiatives \/ Accolades and Awards \/ Implementation of New Programmes<\/strong><\/p>\n

                                                                                      \u00a0<\/strong><\/p>\n

                                                                                      Digital Banking Department<\/strong><\/p>\n

                                                                                      \u00a0<\/strong><\/p>\n

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                                                                                      1. Self-registration without visiting branch<\/li>\n
                                                                                      2. Login using Biometric authentication for enhanced security and access<\/li>\n
                                                                                      3. mPassbook facility available to view and download statements<\/li>\n
                                                                                      4. Voice assistance facility<\/li>\n
                                                                                      5. Deposit opening , renewal, pre-closure and closure<\/li>\n
                                                                                      6. Bharat Bill Payment System (BBPS) integration.<\/li>\n
                                                                                      7. PMJJBY\/PMSBY insurance enrolment<\/li>\n
                                                                                      8. Pay Later\/Standing Instructions facility<\/li>\n
                                                                                      9. Mobile Banking application in 10 regional languages<\/li>\n<\/ol>\n

                                                                                        \u00d8\u00a0\u00a0Number of registrations made till 31.03.2021 are 36.26 lakhs<\/p>\n

                                                                                        \n

                                                                                        \u00a0<\/strong><\/p>\n

                                                                                        BHIM IOB UPI<\/strong><\/p>\n

                                                                                        \u00d8\u00a0\u00a0Introduced from the year 2016<\/p>\n

                                                                                        \u00d8\u00a0\u00a0By Linking Savings or Current account, customer can<\/p>\n

                                                                                          \n
                                                                                        1. Send money using VPA, A\/c No and IFSC Code, QR Code<\/li>\n
                                                                                        2. Collect money using remitters VPA<\/li>\n<\/ol>\n

                                                                                          \u00d8\u00a0\u00a0Introduced separate 6 digit PIN for each account for enhanced security.<\/p>\n

                                                                                          \u00d8\u00a0\u00a0Has the facilities of One Time mandate creation and ASBA<\/p>\n

                                                                                          \u00d8\u00a0\u00a0Number of registrations made till 31.03.2021 are 39.64 lakhs<\/p>\n

                                                                                          \u00a0<\/strong><\/p>\n

                                                                                          Debit Cards<\/strong><\/p>\n

                                                                                          }\u00a0\u00a0Cards are issued in different flavours (Gold, Platinum and Signature) under VISA, Rupay and Master Card<\/p>\n

                                                                                          }\u00a0\u00a0Both Insta and Personalized cards are issued to customers<\/p>\n

                                                                                          }\u00a0\u00a0Green Pin (in place of Paper pin) for Debit Cards introduced.<\/p>\n

                                                                                          }\u00a0\u00a0Facility has been provided to card holders for blocking Debit Cards through Bank Web Site, Internet Banking and Mobile Banking.<\/p>\n

                                                                                          }\u00a0\u00a0Option given to card holders to switch ON\/Off and set\/modify transaction limit, if any, for all types of transactions – Domestic and International, at POS\/ATMs\/Ecom transactions\/contactless transactions through Internet banking and Mobile banking.<\/p>\n

                                                                                          }\u00a0\u00a0National Common Mobility Card (NCMC) introduced in RUPAY category which can also be used for contactless transactions.<\/p>\n

                                                                                          \u00a0<\/strong><\/p>\n

                                                                                          Management of ATMs\/Cash Recyclers\/Passbook Kiosks<\/strong><\/p>\n

                                                                                          \u00d8\u00a0\u00a0IOB is having\u00a03145\u00a0<\/strong>machines as on 31.03.2021 of which 1927 are ATMs and 1218 are Cash Recyclers.<\/p>\n

                                                                                          \u00d8\u00a0\u00a0Of the total 3145 machines 2720 are Onsite and 425 are Offsite<\/p>\n

                                                                                          \u00d8\u00a0\u00a0Out of total 3129 machines, 2700 are Branch Managed (CAPEX model) and 445 are vendor managed (OPEX model)<\/p>\n

                                                                                          \u00d8\u00a0\u00a0Bank is having 2109 Passbook Kiosks belonging to four vendors, functioning PAN INDIA<\/p>\n

                                                                                          \u00a0<\/strong><\/p>\n

                                                                                          INTERNET BANKING<\/strong><\/p>\n

                                                                                          \u00d8\u00a0\u00a0The software developed in house introduced in the year 2003<\/p>\n

                                                                                          \u00d8\u00a0\u00a0Some of features are Balance Enquiry, Transaction details, Funds Transfer using NEFT\/RTGS\/IMPS etc, Online Tax and Utility Payments Bill Payments, IPOs, Top Up of Prepaid Cards and Credit Card Payments<\/p>\n

                                                                                          \u00d8\u00a0\u00a0Internet Banking application in 10 regional languages<\/p>\n

                                                                                          \u00d8\u00a0\u00a0Total registrations till 31.03.2021 are 22.16 lakhs<\/p>\n

                                                                                          \u00a0Bank on Wheels<\/strong><\/p>\n

                                                                                          \u00d8\u00a0\u00a0As part of Bank\u2019s Commitment under EASE (Enhanced Access and Service Excellence), Our Bank has launched \u201cBank on Wheels\u201d (Mobile ATMs) in 13 districts of Tamil Nadu and one district of Kerala where IOB is the Lead Bank besides one district in Andhra Pradesh (Vijayawada)<\/p>\n

                                                                                          \u00d8\u00a0\u00a0Each Bank on Wheel is equipped with one Cash Dispenser, one Passbook Kiosk and 55\u201d LED Screens for marketing of various products of the Bank. These Screens are also utilized for delivering Financial Inclusion messages or any educative series to the general public.<\/p>\n

                                                                                          \u00d8\u00a0\u00a0A Business Correspondent will also available in the vehicle to popularise the bank schemes.<\/p>\n

                                                                                          \u00a0<\/strong>RTGS\/NEFT<\/strong><\/p>\n

                                                                                          \u00d8\u00a0\u00a0Available for Customer and Inter Bank transactions<\/p>\n

                                                                                          \u00d8\u00a0\u00a0Customers can avail NEFT channels through Mobile Banking and NEFT and RTGS through Internet Banking .<\/p>\n

                                                                                          \u00d8\u00a0\u00a0NEFT & RTGS channels functioning 24 X 7<\/p>\n

                                                                                          \u00a0<\/strong><\/p>\n

                                                                                          IOB PAY<\/strong><\/p>\n

                                                                                          \u00d8\u00a0\u00a0Introduced in the year 2017<\/p>\n

                                                                                          \u00d8\u00a0\u00a0Developed in house and integrated with Aggregators<\/p>\n

                                                                                          \u00d8\u00a0\u00a0The product is an integrated on line payment which offers fee payments, merchant payments, donations. An easy and effective way of collecting payments by the merchants.<\/p>\n

                                                                                          \u00d8\u00a0\u00a0Targeted to enable Online Payments for different type of merchants with or without merchant web site.<\/p>\n

                                                                                          \u00d8\u00a0\u00a0470 Institutions have been registered in IOB Pay.<\/p>\n

                                                                                          \n

                                                                                          \n

                                                                                          Marketing Department:<\/strong><\/p>\n

                                                                                            \n
                                                                                          • Corona Specific Health Insurance Products launched<\/u><\/strong><\/li>\n<\/ul>\n

                                                                                            \u00a0<\/u><\/strong><\/p>\n

                                                                                            Our Bank has launched Corona coverage Specific Health Insurance products (Corona Kavach and Corona Rakshak) on 20.07.2020 as Per IRDAI guidelines in coordination with Universal Sompo General Insurance Co Ltd.<\/p>\n

                                                                                            \n

                                                                                              \n
                                                                                            • New tie up under General Insurance Category<\/u><\/strong><\/li>\n<\/ul>\n

                                                                                              \u00a0<\/u><\/strong><\/p>\n

                                                                                              Our Bank has partnered with M\/s SBI General Insurance Co Ltd for providing variety of General Insurance Products to IOB Customers.\u00a0 In this regard a Corporate Agency Agreement signed on 25.02.2021 with SBI General Insurance Co Ltd.<\/p>\n

                                                                                                \n
                                                                                              • \u00a0New tie up under standalone Health Insurance category<\/u><\/strong><\/li>\n<\/ul>\n

                                                                                                \u00a0<\/u><\/strong><\/p>\n

                                                                                                Our Bank has partnered with M\/s Max Bupa Health Insurance Co Ltd for providing competitive Standalone Health Insurance products to IOB Customers. In this regard a Corporate Agency Agreement signed on 22.03.2021 with M\/s Max Bupa Health Insurance Co Ltd.<\/p>\n

                                                                                                Financial Inclusion:<\/strong><\/p>\n

                                                                                                v\u00a0\u00a0\u201cWonderous Warrior\u201d of Winning Wednesday Campaign for July- December 2020, January 2021, February 2021 and March 2021.<\/p>\n

                                                                                                \n

                                                                                                v\u00a0\u00a0Recognition to GM-FI. from PFRDA for qualifying in \u201cShine and Succeed\u201d campaign during July-August 2020.<\/p>\n

                                                                                                \n

                                                                                                v\u00a0\u00a0\u00a0Qualified for \u201cOLD AGE Financial Freedom Fighters\u201d Campaign with Exemplary award and Recognition from PFRDA for 6 Regional Heads\u00a0and Nodal Officer of our Bank.<\/p>\n

                                                                                                \n

                                                                                                v\u00a0\u00a0\u00a0Qualified for \u201cMakers of Excellence 4.0\u201d Campaign and Recognition from PFRDA.<\/p>\n

                                                                                                \n

                                                                                                Implemented the following new programme:<\/u><\/strong><\/p>\n

                                                                                                \u00a0<\/u><\/strong><\/p>\n

                                                                                                We have introduced\u00a0End to End Online Gold Loan application,<\/strong>\u00a0on our Bank\u2019s 84th<\/sup>\u00a0Foundation Day (i.e, on 10.02.2021) to digitalize the Gold Loan facility with a customer friendly user interface.<\/p>\n

                                                                                                \n

                                                                                                Our Bank customers can apply for Gold Loan through our Bank website, mobile banking and internet banking while non-customers can apply through our Bank Website.<\/p>\n

                                                                                                \n

                                                                                                Applicants can apply for any of our 4 Gold Loan Schemes viz.\u00a0Agriculture Term loan \u2013 Jewellery<\/strong>\u00a0(to meet Short-term production, Agri-allied activities and investment credit needs of farmers),\u00a0Jewel loan \u2013 Others<\/strong>\u00a0(to meet domestic\/business needs),\u00a0Jewel Loan SME<\/strong>\u00a0(to meet investment need in MSME – Manufacturing, Services and Retail Trade sectors) and\u00a0IOB Swarnalakshmi\u00a0<\/strong>(to need domestic needs (i.e., non-productive) to women.<\/p>\n

                                                                                                \u00a0<\/strong><\/p>\n

                                                                                                \u00a0<\/strong><\/p>\n

                                                                                                *******<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

                                                                                                Indian Overseas Bank Central\u00a0Office\u00a0Chennai Performance Highlights \u2013 31.03.2021\u00a0 Chennai – 14.06.2021 Performance Highlights \u2013 31.03.2021 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,30],"tags":[],"class_list":["post-19970","post","type-post","status-publish","format-standard","hentry","category-corporate","category-finance"],"_links":{"self":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/19970","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19970"}],"version-history":[{"count":1,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/19970\/revisions"}],"predecessor-version":[{"id":19971,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/19970\/revisions\/19971"}],"wp:attachment":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19970"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19970"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19970"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}