Last Updated on: 12/03/2024
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 on)
Vision, Mission and Key Objectives - (Click on)
Details of Regional Offices and Regional Managers at Regional Offices - (Click on)
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 on)
Information About General Manager - (Click on)
Information about Regional Offices - (Click on)
Information about Overseas Branches and Representative Offices: - (Click on)
Information about Branches - (Click on)
Information about ATMs - (Click on)
Information about Bank Products - https://www.iob.in/
Debit/Credit Cards Information - (Click on)
Other Services:
i. Customers Corner / Customer Service - (Click on)
ii. Grievances Redressal - (Click on)
iii. Service Charges - (Click on)
iv. Interest Rates - (Click on)
v. Forex Rates - (Click on)
vi. Aadhar Enrolment Centre - (Click on)
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 on)
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.i.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 on)
Cheque Collection Policy - (Click on)
Documents Retention and Preservation Policy - (Click on)
Timeline for Disposal - (Click on)
Deposit Policy - Deposit Policy
Policy for Appointment of Statutory Central Auditors and Statutory Branch Auditors - (Click on)
SME Policy - (Click on)
Compensation Policy - (Click on)
Policy on Collection of Dues and Possession of Securities - (Click on)
Death Claim Settlement - (Click on)
Customer Right Policy - (Click on)
Whistle Blower - (Click on)
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 on)
b. Regulations and Settlements - (Click on)
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:
Annual Reports - (Click on)
Investor Grievances Report - (Click on)
4.1.b.vii
The particulars of any arrangement that exists for consultation with, or representation by the members of the public in relation to the formulation of its policy or implementation thereof.
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.
4.1.b.viii
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:
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 on)
4.1.b.ix
A directory of its officers and employees.
For Information about Name, Scale, Designation of Employees - (Click on)
These information will be updated half-yearly.
4.1.b.x
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 on)
4.1.b.xi
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.xii
The manner of execution of subsidy programs, including the amounts allocated and the details of beneficiaries of such programs.
4.1.b.xiii
Particulars of recipients of concession, permits or authorizations granted by it.
4.1.b.xiv
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.xv
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 on)
a. Citizen Charter - (Click on)
b. Branch Contact - (Click on)
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 on)
4.1.b.xvi
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 on)
Training of Employees (Internal/External)
Year: 2021-22
No. of Employees Trained: 16341
Year: 2022-23
No. of Employees Trained: 19923
Guidelines of RTI Act - (Click here)
4.1.b.xvii
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
Details of First Appeals Received and Disposed:
First Appeal Received: 366
First Appeal Disposed: 363
First Appeal Received: 357
First Appeal Disposed: 346
Date of third party audit for the year 2021-2022: 16.09.2022.