16 Feb : Indian Overseas Bank today launched its New Product "Cash Credit Against Jewellary" at a function held at Regional Office, Civil Lines Ludhiana.
The function was presided over by Sh V K Gupta, Chief Regional Manager. Speaking on the occasion Mr. Gupta dwelt in detail the salient features of the newly launched product which include, credit against jewellary for individuals in small business/trade/professional and self employed. Credit under the scheme is available from Rs. 50000/- to Rs. 10 Lacs at an attractive interest rate with no margin and low processing charges. On the spot Disbursement under this scheme was also made to seven costmers from different branches.
Recently Indian Overseas Bank has been ranked First among the Public Sector Banks as per the survey conducted by the Business Today – KPMG Survey, an another feather in the Bank’s cap. He further informed that IOB is one of the Pioneer Banks in introducing innovative technologies in Banking System. The Bank at present offers Mobile SMS alerts facility, Internet Banking with the facility to deposit tax online, Multicity Cheques and Core Banking Solutions with all 55 branches in Ludhiana Region under Core Banking Solution.
The Bank is having plan to open new Branch at Focal Point, Ludhiana shortly to extend its customer friendly services to Industrial Hub of Ludhiana. A New ATM will also be inaugurated on 18.02.2009 at Air force Station Halwara in order to serve the defence personnels. At the end the Chief Regional Manager advised that Bank’s focus in Punjab is to act as a catalyst in growth of agriculture and SME segments of Industry and offer best personalized services to all segments of society.
Sh A K Chugh, Chief Manager, Civil Lines branch alongwith Sh Hari Om Grover and Sh R K Bhanot, Chief Managers Regional Office Ludhiana besides Senior Managers and Managers of local branches were also present at the ceremony.