Indian Overseas bank has started offering National Payment Corporation of India’s Bharat Bill Payment System (BBPS) to its customers.
with this the bank has become the third bank to get approval for this kind of service from RBI after Bank of Baroda and Union Bank of India.
It is the kind of integrated bill payment system where customers can pay their bills like electricity, telecommunication, gas and water.
Indian Overseas Bank was established on Feb 10, 1937 with headquarter at Chennai. Currently Mr. R. Subramania is its MD and CEO. it has total 3700 branches in India out of which 1150 are in Tamil Nadu and has 3 extension counters. The bank also has its presence in overseas with 8 branches which are in Singapore, Hong Kong, Colombo, Seoul, and Bangkok and have representative offices in Guangzhou, Vietnam, and Dubai.
It has more than 3300 ATMs in the India.