IOB celebrates Platinum Jubilee in Mangalore

IOB celebrates Platinum Jubilee in Mangalore

Mangalore Today News Network

Mangalore, Feb 26: Indian Overseas bank has played a prominent role in the development of economic and social sectors of the country said N Vinay Hegde,  Chancellor, Nitte University. He was speaking at the 75th anniversary celebration of Indian overseas Bank at TMA Pai Convention Hall on Friday, February 26.

 

 

 

Hailing the banks achievement, Mr Vinay Hegde said that Indian Overseas Bank a leading Public Sector Bank has introduced a bunch of new credit and financial schemes for Small and Marginal Farmers, MSEs and holistic village development.

Mr Vinay Hegde welcomed the enhancement programme of Indian Overseas bank in present financial year.  He said that through the enhancement programme, the youngsters will get vast job opportunities in the banking field. He recalled that he too had attended for an interview conducted by the Indian Overseas Bank in 1962. Unfortunately, he failed to get the job, he added.

 

 

 

 

 

 

T Sathish Pai, Managing director, Manipal Media Network, was the Chief Guest of the function. He handed over loan documents to the special scheme beneficiaries.  Sri. Sri. Vidya Prasanna Theertha Swamiji, Seer of Sri Kshethra Subramanya delivered benedictory address.

Speaking on the occasion, Mr. M. Narendra, Chairman and Managing Director, IOB , said “As we are celebrating 75th year of our bank, we are pleased to introduce many new schemes for the low income group of our society. They are aimed at the welfare and development of  marginal farmers, small and medium entrepreneurs. They play a very crucial role in the growth and economy of our  country.” Established in 1973, the Indian Overseas Bank, has grown above the banking system this year, he said. The bank’s growth in deposits is 19.75 percent as against the system’s growth of 10.92 percent; and in terms of advances, the bank’s growth is 29.04 percent as against the system’s growth of 14.95 percent. The bank has crossed its global business mix target of Rs. 2,37,000 and plans to reach the business level target of Rs. 2,50,000 by March 2011, he said.

 

On this occasion, P Vinod Shenoy, Carmine Baas Lobo, and Muralidhar Nayak were felicitated. Bank’s executive directors, Nupur Mitra and A K Bansal, were  present on the dais.