IOB Expands Startup Banking Presence, Introduces ‘IOB Gram Sweekar’ Initiative
IOB expanded its dedicated Startup Banking Network by opening exclusive startup-focused branches in Delhi, Mumbai and Bengaluru, building on the success of its first specialised branch in Chennai.
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On its 90th Foundation Day, Indian Overseas Bank (IOB) announced two major initiatives to strengthen India’s startup ecosystem and expand financial inclusion in rural areas.
The initiatives were unveiled virtually by M Nagaraju, Secretary of the Department of Financial Services, along with the bank’s senior leadership.
IOB expanded its dedicated Startup Banking Network by opening exclusive startup-focused branches in Delhi, Mumbai and Bengaluru, building on the success of its first specialised branch in Chennai.
Since its launch in June 2024, the Chennai branch has supported 33 startups in emerging sectors such as electric vehicles, clean energy and robotics, handling business exceeding INR 100 crore as of January 31, 2026.
With expansion into major innovation hubs, the bank aims to provide tailored financial solutions, advisory support and structured credit access for early-stage and growth-oriented enterprises.
The bank also launched “IOB Gram Sweekar,” a rural outreach programme under which 90 Gram Panchayats across 14 districts in Tamil Nadu and Thiruvananthapuram district in Kerala have been adopted. The initiative focuses on strengthening credit delivery, improving financial literacy and ensuring universal access to banking services.
Ajay Kumar Srivastava, MD and CEO, said, “These initiatives underscore IOB’s future-ready approach… The Bank remains committed to innovating and expanding its services to contribute meaningfully to India’s economic progress.”
On its 90th Foundation Day, Indian Overseas Bank (IOB) announced two major initiatives to strengthen India’s startup ecosystem and expand financial inclusion in rural areas.
The initiatives were unveiled virtually by M Nagaraju, Secretary of the Department of Financial Services, along with the bank’s senior leadership.
IOB expanded its dedicated Startup Banking Network by opening exclusive startup-focused branches in Delhi, Mumbai and Bengaluru, building on the success of its first specialised branch in Chennai.
Since its launch in June 2024, the Chennai branch has supported 33 startups in emerging sectors such as electric vehicles, clean energy and robotics, handling business exceeding INR 100 crore as of January 31, 2026.
With expansion into major innovation hubs, the bank aims to provide tailored financial solutions, advisory support and structured credit access for early-stage and growth-oriented enterprises.
The bank also launched “IOB Gram Sweekar,” a rural outreach programme under which 90 Gram Panchayats across 14 districts in Tamil Nadu and Thiruvananthapuram district in Kerala have been adopted. The initiative focuses on strengthening credit delivery, improving financial literacy and ensuring universal access to banking services.
Ajay Kumar Srivastava, MD and CEO, said, “These initiatives underscore IOB’s future-ready approach… The Bank remains committed to innovating and expanding its services to contribute meaningfully to India’s economic progress.”
