# Indian Overseas Bank (IOB)

> Source: https://docs.barcoder.ai/docs/wallets/iob-india
> research date 2026-06-01 · extracted at 2026-10-07
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [IOB — official](https://www.iob.in/)

## Overview

**Indian Overseas Bank (IOB)** is **Indian state-owned commercial bank** + **NSE: IOB BSE: 532388** + **Government of India Ministry of Finance ~96%+ controlling + Indian retail + institutional investors free float** + **one of India's mid-sized state commercial banks** + **founded Feb 10 1937 in Chennai India as Indian Overseas Bank by M. Chidambaram Chettyar + Jul 19 1969 Indian banking nationalisation** <sup>[1][1], [India report](https://docs.barcoder.ai/docs/payments/IN)</sup>.

## History

**Feb 10 1937 — Indian Overseas Bank IOB founded in Chennai India by M. Chidambaram Chettyar as Indian commercial bank specifically targeting Indian diaspora overseas remittance + commercial banking** distinctive Indian banking heritage.

**Jul 19 1969 — IOB nationalised under Indira Gandhi-era Indian Banking Nationalisation Act consolidating IOB into Government of India-owned commercial bank**.

**2014 — IOB Mobile banking app launch**.

## Ownership & operator

**Operating entity**: **Indian Overseas Bank IOB** (Indian state-owned commercial bank; NSE: IOB; BSE: 532388).

**Major shareholders**: **Government of India Ministry of Finance ~96%+ controlling + Indian retail + institutional investors free float**.

**Regulators**: **Reserve Bank of India RBI + national regulators across 7+ countries**.

## Technical integration

IOB Mobile app (iOS + Android) + iob.in online + Indian Overseas Bank branch network across India + Singapore + Hong Kong + Malaysia + Thailand + South Korea + Sri Lanka international branches + IOB Visa + Mastercard + RuPay cards; RuPay Indian national card scheme + EMVCo QRCPS QR payments + Bharat QR (Indian national QR payment scheme) + UPI Unified Payments Interface (Indian instant payments) + Indian Rupee INR domestic transfers.

## Implementations & partners

**Major Indian banking + payments competitors**: [State Bank of India (SBI)](https://docs.barcoder.ai/docs/wallets/sbi-india) (State Bank of India SBI) + [HDFC Bank App](https://docs.barcoder.ai/docs/wallets/hdfc-bank) (HDFC Bank) + [ICICI Bank](https://docs.barcoder.ai/docs/wallets/icici-bank) (ICICI Bank) + [Axis Bank / Axis Mobile](https://docs.barcoder.ai/docs/wallets/axis-bank) (Axis Bank) + [Kotak Mahindra Bank / Kotak811](https://docs.barcoder.ai/docs/wallets/kotak-mahindra) (Kotak Mahindra Bank) + [Punjab National Bank (PNB ONE)](https://docs.barcoder.ai/docs/wallets/pnb-india) (Punjab National Bank PNB) + [Canara Bank](https://docs.barcoder.ai/docs/wallets/canara-bank) (Canara Bank) + [Bank of Baroda (BOB)](https://docs.barcoder.ai/docs/wallets/bob-india) (Bank of Baroda BOB) + [UPI QR](https://docs.barcoder.ai/docs/standards/upi-qr) (Unified Payments Interface UPI).

**Regulators**: Reserve Bank of India RBI + national regulators across 7+ countries.

## Status

**Active, Indian state-owned commercial bank + NSE:IOB BSE:532388 + Government of India Ministry of Finance ~96%+ controlling + one of India's mid-sized state commercial banks + founded Feb 10 1937 in Chennai India as Indian Overseas Bank by M. Chidambaram Chettyar + Jul 19 1969 Indian banking nationalisation** <sup>[1][1], [2][2]</sup>.

## Sources

[1]: https://www.iob.in/ "IOB — official"
[2]: https://en.wikipedia.org/wiki/Indian_Overseas_Bank "IOB — Wikipedia"
[in-cro]: https://docs.barcoder.ai/docs/payments/IN

- [1] [IOB — official][1]
- [2] [IOB — Wikipedia][2]
- <sup>[India report](https://docs.barcoder.ai/docs/payments/IN)</sup> In-corpus: `reports/countries/IN-india.md`

## Source

Biography extracted from [iob-india.md](https://docs.barcoder.ai/source/wallets/iob-india). See `matrix.md` for standards-support matrix if present.