Indian Overseas Bank
On 5 December 2021, IOB got Degidhan Award 2020–21 by Ministry of Electronics and Information Technology for achieving second highest percentage of digital payment transaction among public sector banks.Founded in February 1937 by M. Ct. M. Chidambaram Chettyar with twin objectives of specializing in FOREX and overseas banking.The bank served the Nattukottai Chettiars, who were a mercantile class that at the time had spread from Chettinad in Tamil Nadu state to Ceylon (Sri Lanka), Burma (Myanmar), Malaya, Singapore, Java, Sumatra, and Saigon.Two years later, IOB opened a foreign currency banking unit in Colombo, Sri Lanka.In 1983, ethnic sectarian violence in the form of anti-Tamil riots resulted in the burning of IOB's branch in Colombo.In 2000, IOB engaged in an initial public offering (IPO) that brought the government's share in the bank's equity down to 75%.In 2001 IOB acquired the Mumbai-based Adarsha Janata Sahakari Bank, which gave it a branch in Mumbai.Then in 2009 IOB took over Shree Suvarna Sahakari Bank, which was founded in 1969 and had its head office in Pune.IOB opened an extension counter at New Kathiresan Temple complex, Bambalapitiya, Sri Lanka, on 29 August 2003.IOB opened an Offshore Banking Unit in Colombo, Sri Lanka, on 31 August 2013.