Last Updated on: 27/05/2024
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SUO MOTO DISCLOSURE OF INFORMATION UNDER SECTION 4(1)(b) of THE RIGHT TO INFORMATION ACT, 2005
4.1.b.i
Particulars of its Organization, Functions and Duties
Name of Organization: Indian Overseas Bank
Corporate Office: P.B. No.3765, 763 Anna Salai, Chennai, Tamilnadu, India - 600002
Date of Establishment: 10.02.1937
Ownership: Public Sector Bank. Click below for further details.
Board of Director - (View)
Indian Overseas Bank Genesis - (Click here)
Vision, Mission and Key Objectives - (Click here)
Details of Regional Offices and Regional Managers at Regional Offices - (Click here)
Functions and Duties: The primary functioning of the Bank is to Accept Deposits, to Lend for various activities & to do other Business as permitted under Banking Regulation Act 1949, The Banking Companies (Acquisition And Transfer Of Undertaking) Act, 1969 etc...
Organizational Structure: - (Click here)
Information About General Manager - (Click here)
Information about Regional Offices - (Click here)
Information about Overseas Branches and Representative Offices: - (Click here)
Information about Branches - (Click here)
Information about ATMs - (Click here)
Information about Bank Products - https://www.iob.in/
Debit/Credit Cards Information - (Click here)
Other Services:
i. Customers Corner / Customer Service - (Click here)
ii. Grievances Redressal - (Click here)
iii. Service Charges - (Click here)
iv. Interest Rates - (Click here)
v. Forex Rates - (Click here)
vi. Aadhar Enrolment Centre - (Click here)
vii. Annual Reports - (Click here)
4.1.b.ii
The powers and duties of its officers and employees
The powers, roles and duties of employees of Bank are governed by the Bi-partite Settlements, memorandum of settlement between Bank Management and association/union etc...
For Regulations, Settlement etc. - (Click here)
Annual Reports - (Click here)
4.1.b.iii
The procedure followed in the decision making process, including channels of supervision and accountability.
The Board has delegated different powers to the officers at various levels for performing their duties. In order to exercise supervision and fix accountability, various control measures have been put in place.
Bank is following Reserve Bank of India, Government Guidelines/Policies and other statutes in framing various policies, guidelines and procedure etc... for smooth functioning and supervision of Bank.
The Board, in order to facilitate the decision-making process and to provide specific and focused governance in the important functional areas and effective control of the affairs of the Bank, has constituted the committees and delegated specific powers to them.
The policies are revised periodically, depending upon the organization's requirement and also Government/RBI guidelines.
The list of various committees is as below:
1. Management Committee of the Board (MCB)
2. Credit Approval Committee (CAC)
3. Audit Committee of the Board (ACB)
4. Risk Management Committee of the Board (RMCB)
5. Customer Service Committee of the Board (CSC)
6. Committee for Review of Disciplinary Cases & Departmental Enquiries (CRDC)
7. Information Technology Strategy Committee (ITSC)
8. Board Level Steering Committee on Human Resources (BLSCHR)
9. Board Level Committee to Monitor Recovery in NPA (BLCMRNPA)
10. Committee of Board for Consideration of Appeals (CBCA)
11. Stakeholder Relationship Committee of the Board (SRC)
12. Nomination and Remuneration Committee (NRC)
13. Board Level Committee for Monitoring Large Value Frauds (CMLVF)
14. Review Committee on Wilful Defaulters and Non Co-Operative Borrowers (RCWDNCB)
15. Board Committee for Performance Evaluation (BCPE)
4.1.b.iv
The norms set by it for the discharge of its functions
Bank follows policies framed by Broad based on circular & guidelines issued by Reserve Bank of India, Government of India and law prescribed by Statutes. The policies are revised periodically, depending upon the organization's requirement and also Government/RBI guidelines.
The various policies of the bank can be accessed through the following links:
Customers Corner / Customer Service - (Click here)
Cheque Collection Policy - (Click here)
Documents Retention and Preservation Policy - (Click here)
Timeline for Disposal - (Click here)
Deposit Policy - Deposit Policy
Policy for Appointment of Statutory Central Auditors and Statutory Branch Auditors - (Click here)
SME Policy - (Click here)
Compensation Policy - (Click here)
Policy on Collection of Dues and Possession of Securities - (Click here)
Death Claim Settlement - (Click here)
Customer Right Policy - (Click here)
Whistle Blower - (Click here)
Time Norms for Services Provided by the Bank
4.1.b.v
The rules, regulations, instructions, manuals records, held by it or under its control or used by its employees for discharging its functions:
Bank is having manuals, circulars, Book of Instruction and policies etc..., which are made available to employees of Bank for exercising their discretion judicially while performing their duties.
These documents are updated periodically depending upon the organization's requirement.
a. Information about Bank Products: - (Click here)
b. Regulations and Settlements - (Click here)
c. Annual Reports - (Click here)
4.1.b.vi
A statement of the categories of documents that are held by it or under its control.
Documents as required under Law, Rules & Regulations such as Balance Sheet, annual reports, record of staff members, licenses obtained from the RBI, for opening branches/offices are held by the Bank.
The following documents are made available on Bank website:
Investor Grievances Report - (Click here)
4.1.b.vii
A statement of the boards, councils, committees and other bodies consisting of two or more persons constituted as its part or for the purpose of its advice, and as to whether meetings of those boards, councils, committees and other bodies are open to the public, or the minutes of such meetings are accessible for public:
The Government of India, in consultation with RBI appoints/nominates persons from various fields like Finance, Management, Social functionaries, etc... as Board of Directors of the Bank.
Boards of Directors of Bank formed Various committees as per the requirement of the Bank as per the powers delegated by the Board.
Publics are not entitled to participate on the meetings of the Board/Committees and minutes are not accessible to Public.
Board of the Bank is constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970. Various committees, as per the requirements of the Bank, are formed as per the approval of the Board or by the top management, as per the powers delegated by the Board.
Public are not entitled to participate in the meetings of the Board/ committees and minutes are not accessible to the public.
Branch Contact - (Click here)
4.1.b.viii
A directory of its officers and employees.
For Information about Name, Scale, Designation of Employees - (Click here)
These information will be updated half-yearly.
4.1.b.ix
The monthly remuneration received by each of its officers and employees, including the system of compensation as provided in its regulations.
For information about Monthly Remuneration of Employees
Monthly Remuneration of Employees - (Click here)
Employees are given salary on the basis of Bi-partite settlement between IBA and Bank Union/Associations.
For Bi-partite and Joint Note:
Provide link for Bank Officer and Employee Service Regulation - (Click here)
4.1.b.x
The budget allocated to each of its agency, indicating the particulars of all plans, proposed expenditures and reports on disbursements made.
Not applicable to Indian Overseas Bank.
4.1.b.xi
The manner of execution of subsidy programs, including the amounts allocated and the details of beneficiaries of such programs.
4.1.b.xii
Particulars of recipients of concession, permits or authorizations granted by it.
4.1.b.xiii
Details in respect of the information available to or held by it, reduced in an electronic form.
The details about Bank Product and Services are already in Public Domain hosted at Bank website:
https://www.iob.in/
4.1.b.xiv
The particulars of facilities available to citizens for obtaining information including the working hours of a library or reading room, if maintained for public use.
The information about tenders, contract concluded, empanelment etc.... is available to Public at: - (Click here)
a. Citizen Charter - (Click here)
b. Branch Contact - (Click here)
The working Hours of the branches are displayed in the branch premises in Bold letters for the information of the Public
The information, which are not available in the Bank website Public can approach CPIO/CAPIO under RTI Act, 2005 for getting such information.
For Details of First Appellate Authority, Central Public Information Officer and Central Assistant Public Information Officer - (Click here)
4.1.b.xv
The names, designations and other particulars of the public Information officers
For details of First Appellate Authority, Central Public Information Officer and Central Assistant Public Information Officer - (Click here)
Training of Employees (Internal/External)
Year: 2023-24
No. of Employees Trained: 13090
Year: 2022-23
No. of Employees Trained: 19923
Year: 2021-22
No. of Employees Trained: 16341
Guidelines of RTI Act - (Click here)
Third Party Audit SUO MOTO Disclosure - (Click here)
4.1.b.xvi
Such other information as may be prescribed and thereafter update these publications every year.
All other information is already hosted at Bank Website, which will be updated periodically. - https://www.iob.in/
Details of RTI Applications Received and Disposed:
RTI Application Received: 1616
RTI Application Disposed: 1645
RTI Application Received: 1795
RTI Application Disposed: 1816
RTI Application Received: 1663
RTI Application Disposed: 1676
Details of First Appeals Received and Disposed:
First Appeal Received: 366
First Appeal Disposed: 363
First Appeal Received: 357
First Appeal Disposed: 346
First Appeal Received: 333
Date of Third Party Audit for the Year 2021-2022: 16.09.2022
Date of Third Party Audit for the Year 2022-2023: 25.07.2023.
4.2
No. of Employees against whom Disciplinary action has been proposed/taken (Section 4(2)