Indian Overseas Bank has announced a significant senior management change with the appointment of Shri S. Alagarsamy as General Manager effective December 31, 2025. The bank formally communicated this development to both BSE and NSE under Regulation 30 of SEBI (LODR) Regulations, 2015.

Management Appointment Details

Shri S. Alagarsamy has assumed charge as General Manager responsible for the Accounts and EDMD (Enterprise Data Management Department) portfolios. This appointment marks his return from deputation to GIC of India to take on expanded responsibilities within the bank's core operations.

Professional Background and Qualifications

Alagarsamy brings extensive banking expertise to his new role, having joined Indian Overseas Bank in September 1991. His career spans more than 34 years in the banking industry, providing him with comprehensive experience across various banking operations and functions.

His educational and professional qualifications demonstrate a strong foundation in banking and financial services:

Existing Management Structure

The bank has maintained continuity in other key leadership positions. Shri Arabindra Mohan Banerjee continues as Chief General Manager with his existing portfolios covering Inspection, Audit, and Public Relations departments. Additionally, Shri B. Sathia Narayanan retains his General Manager role overseeing ITD (Information Technology Department), DCOE (Dedicated Centre of Excellence), MISD (Management Information Systems Department), and MSD (Marketing Services Department).

Regulatory Compliance

The appointment notification was submitted to stock exchanges in compliance with Regulation 30 and 51 of SEBI (LODR) Regulations, 2015, ensuring transparency in senior management changes. The communication was signed by Ram Mohan K, serving as the bank's Compliance Officer, and filed with both BSE and NSE on December 31, 2025.

This management appointment reflects the bank's commitment to leveraging experienced professionals with deep banking expertise to drive its strategic initiatives in accounts management and enterprise data operations.

Indian Overseas Bank has received regulatory approval from the Reserve Bank of India to establish an International Financial Services Centre Banking Unit (IBU) at Gujarat International Finance Tec-City (GIFT City). This development marks a significant step forward for the public sector bank in expanding its international financial services capabilities and overseas operations.

Regulatory Approval Details

The Reserve Bank of India has granted permission to Indian Overseas Bank to set up the specialized banking unit within the IFSC framework at GIFT City. This approval allows the bank to operate under the specific regulatory guidelines established for International Financial Services Centre Banking Units.

GIFT City Operations

The establishment of the IBU at GIFT City will enable Indian Overseas Bank to offer specialized banking services designed for international clients and cross-border financial transactions. GIFT City serves as India's premier international financial services hub, providing a conducive environment for global financial operations within a special economic zone framework.

Strategic Expansion

This regulatory approval represents an important milestone in Indian Overseas Bank's strategic expansion into international financial services. The IFSC Banking Unit will position the bank to participate more actively in global financial markets and serve international clients through the specialized infrastructure available at GIFT City.

The approval enables Indian Overseas Bank to leverage the regulatory advantages and infrastructure facilities available within the IFSC framework, supporting the bank's objectives to enhance its presence in international banking services.