B L :New Delhi, February 11:
2014
IOB should open branches abroad not only where Indians live, but also forge banking and commercial links where India does business and in all countries which are India’s trading partners, Chidambaram suggested on the occasion of the 78{+t}{+h}Foundation Day of the bank.
Currently, IOB has only 10 overseas branches and three representative offices.
Asked about the bank’s overseas branch expansion plans, M Narendra, Chairman and Managing Director, said he has again approached the Reserve Bank of India for a nod to open a branch at the Dubai International Financial Centre (DIFC).
“I have written again to the RBI Governor on the DIFC branch issue,” Narendra told Business Line .
Narendra also said the public sector bank will open its second branch in Bangkok in the next three months.
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