Indian Overseas Bank (IOB) was founded in 1937 by Shri. M. Ct. M. Chidambaram Chettyar, a pioneer in many fields. IOB was one of the 14 major banks that were nationalized in 1969. It provides a wide range of products and services such as saving bank accounts, current accounts, term deposits, retail loans, home loans and mortgages, depository services, gold investment, products debit, and credit cards, multi-city cheque facilities, insurance and mutual funds, and real-time gross settlement services. The company's equity shares are listed on the Bombay Stock Exchange Limited.