Indian Overseas Bank Revolutionizes Retail Loan Processing with New Centres

Indian Overseas Bank has launched 8 new Retail Loan Processing Centres to improve loan approval processes, reduce turnaround times, and enhance financial accessibility. With digital tools and automation, these centers aim to build a resilient banking framework and support growth in the retail segment.

In a bid to streamline loan processing, Indian Overseas Bank has inaugurated 8 Retail Loan Processing Centres across various cities. This strategic move aims to reduce approval times and enhance financial accessibility for retail customers.

One center opened physically in Chennai, while seven more were launched virtually in other cities. According to Managing Director and CEO Ajay Kumar Srivastava, these centers are fortified with digital technologies and automation, ensuring rapid loan approvals and robust risk management.

The bank's new approach underscores its commitment to integrating technology within its services. Additionally, IOB debuted an ATM kiosk at the historic Puratchi Thalaivar Dr MGR Central Railway Station, combining innovation with the rich heritage of Chennai's architectural landscape.

(With inputs from agencies.)