A Scheduled Bank in the Public sector in INDIA under Regional Rural Banks Act 1976 | ||
Established on 9th March 1977, Head Quarters at Sattur, then shifted to Virudhunagar, Tamilnadu state in South India. | ||
 | Issued and Paid up Share Capital is Rs 1Crore, held by Government of India (50%),Government of Tamilnadu (15%) and Sponsor bank - Indian Overseas Bank (35%). | |
| A leading Public Sector Bank - Indian Overseas Bank provides management expertise. | |
| The Primary objective of the Bank is to finance farm & non-farm sectors and other employment generation programs. | |
| Operates in 15 Districts with, 204 Branches, 6 Regional offices with a staff strength of 875. | |
| Continuous record of Profit. Total Reserves exceed Rs 180.22 Crores. | |
Achievements as on 31.03.2011
| Deposits crossed Rs 2102.89 Crores | |
| Credit crossed Rs 2531.51 Crores | |
| Operating profit of Rs 45.07 Crores |
| Achieved a recovery percentage of 96 % |
| Disbursed a sum of Rs 3483 Crores during 2010 April to March 2011 for various farm & non-farm activities. |
| Opened 5 New Branches | |
| Bank is Corporate Agent of LIC of India and United India Insurance Company, the first RRB. |
Significant Land Marks :-
Insurance Business
First RRB to become the composite corporate Agent of LIC of India and United India Insurance company . All the products of LIC of India and United India Insurance company will be available at our all branches.
Micro Credit
Winner of Best performance award from NABARD
Recognized as a Model Institution by NABARD for hosting Exposure visits on SHGs and JLGs.
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