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CSR by Indian Overseas Bank Ltd.

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  • Sheetal - Karmayog
    CSR by Indian Overseas Bank Ltd. Profit before taxation - Rs 1050 Cr Corporate Social Responsibility (CSR) ( From Annual Report ) Agriculture During the year,
    Message 1 of 1 , Oct 1, 2012
      CSR by Indian Overseas Bank Ltd.
      Profit before taxation - Rs 1050 Cr
      Corporate Social Responsibility (CSR) ( From Annual Report )
      During the year, the agricultural credit portfolio of the Bank registered incremental growth of ` 3,360 crore from Rs 16,056 crore as on 31st March 2011 to Rs 19,416 crore as on 31st March 2012. The Bank’s ratio of agricultural advances to Adjusted Net Bank Credit was 18.82% against the required norm of 18%.

      The Bank disbursed Rs 22,272 crore under Special Agricultural Credit Plan (SACP) as against the target of Rs 21,500 crore during the year.
      Recovery to demand under agricultural advances continued  to be satisfactory at 78.31% for the year ended June 2011.

      New Agriculture loan products
      The Bank has introduced / customised the following Agricultural loan products to suit specific needs of identified segments:

      IOB Sagarlakshmi: An exclusive loan product designed for financing fisherwomen empowering them with sustainable income generation. Loans up to Rs 1.00 lac are granted under agricultural advances.

      IOB Bhoomi Shakti: The scheme is formulated to provide financial assistance to women having farm land in their own name and tenant farmers if the tenant is a woman. The scheme provides for interest concession @ 0.50% for limits up to Rs 50000/- and 0.25% for limits above Rs 50,000/-.

      Overdraft in SB accounts: The Bank has formulated a scheme for Savings-cum-OD accounts for rural families which do not have any land facilitating overdraft facilities up to Rs 10000/- per family.

      IOB Green Credit: A scheme for meeting the short term production credit or investment credit or both. The scheme was made more attractive by increasing maximum limit up to Rs 25 lacs.

      IOB Urban Horticulture: The Scheme is meant for individuals and institutions for raising kitchen garden, flower garden, small orchards or roof gardens. The scheme was modified by increasing minimum limit to Rs 33,000/- and maximum limit to Rs 2.50 lakhs to Individuals and to Rs 25.00 lakhs to Institutions. Margin and collateral security is waived for loans up to Rs 1.00 lac.

      IOB Agri. Transport: This scheme is designed for purchase of two wheelers, three wheelers and four wheelers to be used for agriculture purpose. The scheme is liberalized by waiving margin for loans up to Rs 1.00 lac. Further, collateral security valued at least 50% of the loan amount in any form is also waived.

      Kisan Credit Card Scheme (KCC) The Bank issued 3,42,806 KCCs during the year. The total number of cards cumulatively issued by the Bank as at the end of March 2012 stood at 25,61,192.

      During the year, the Bank credit-linked 33,469 Self Help Groups (SHGs) with a credit outlay of Rs 713.93 Crore. The cumulative number of SHGS credit linked by the Bank is 4,33,866 with a total disbursement of Rs 4,203.74 Crore as of March 2012.

      “SHG Credit Linkage Week” from 05.03.2012 to 10.03.2012 was observed coinciding with International Women’s Day on 8th March to give fillip to SHG linkage under the direct segment.

      Credit flow to Women
      As on 31st March 2012, Bank’s credit to women stood at Rs 14,059.65 Crore constituting 13.62% of the Bank’s Adjusted Net Bank Credit, as against the norm of 5%.

      Lead Bank Scheme
      The Bank has Lead Bank responsibility in twelve districts in Tamil Nadu and one district in Kerala. The Bank is also the Convenor of State Level Bankers’ Committee of Tamil Nadu
      (SLBC). During the year of review, as convenor of SLBC, Tamil Nadu, the Bank has conducted four meetings of the SLBC. In addition, the Bank convened the following special SLBC meetings during the year:

      1) Two special SLBC meetings on the Guidelines on Lending to Agriculture issued by Ministry of Finance.

      2) Meeting on Government of India’s Revival, reform & restructuring package for Handloom sector.

      3) Meeting on Tamil Nadu Government’s Old Age pension scheme.

      4) Meeting on Interest Subsidy for Housing Urban Poor (ISHUP).

      5) Meeting on Relief & Concessions to spinning, Textile and Knitwear industry.

      As Convenor of SLBC, the Bank organized a conference of all the 31 Lead District Managers of Tamil Nadu at Trichy to review the progress in various Government schemes, Financial Inclusion and Annual Credit Plan.Senior Officials  from Reserve Bank of India and NABARD also participated.

      As convenor of SLBC, the Bank monitored the progress in  coverage of 4,445 villages (with population above 2000) by Banks under the Financial Inclusion Plan and achieved 100% coverage.

      The Bank, as the Convenor of SLBC, Tamil Nadu organized establishment of Rural Self Employment Training Institutes (RSETI) and Financial Literacy & Credit Counseling Centres in all the 31 districts of the State.

      The Bank, as the convenor of SLBC monitored the progress of achievement under Annual Credit Plan, which stands at 115% as on 31.12.2011, the second highest in the country.

      Corporate Social Responsibility
      The Bank continues to meet its Corporate Social Responsibility by participating many of the activities towards socio-economic development by extending donations and sponsorship. During the year 2011-12, the Bank donated Rs 1 crore to Tamil Nadu Chief Minister’s Relief Fund and Rs 50 lakhs to Tamil Nadu Chief Minister’s Relief Fund – Thane Cyclone besides other donations and sponsorships to various socio welfare activities.

      IOB-Sampoorna Project – A Total Village Development Project
      IOB Sampoorna is an innovative rural development project aimed at Total Village Development. IOB-Sampoorna is a unique Project encompassing several livelihood initiatives in the villages to ensure all-inclusive growth of rural population. It comprises of credit and non-credit components such as Financial Inclusion, Information Technology enabled banking operations with Bio-metric Smart Cards under Business Correspondent model, Tree Planting and Social Forestry, Cleaning Water Bodies, Health Care, Skill Training for youth in computer, Rural Business Process Outsourcing, Promotion of non-conventional energy and Rural Tourism. The scheme is under implementation for last 5 years. This year 16 more villages were added taking the total IOB Sampoorna villages to 91 all over India.

      Rural Self Employment Training Institutes (RSETIs)

      In line with the guidelines issued by Ministry of Rural Development, Government of India (GOI), the Bank had set up RSETIs at all Lead Districts to provide training to farmers, members of SHGs, beneficiaries under SGSY, Educated Unemployed Youth, Artisans and beneficiaries belonging to weaker sections. In addition to the above, the Bank has set up one RSETI in the Nilgiris District for the benefit of the Tribals.

      A Rural Training Centre was set up by the Bank (jointly with NABARD and Indian Bank) at Karaikudi , Sivaganga District, Tamil Nadu state. The Bank has Lead Bank responsibility in these Districts. During the year under review, through these Training Institutes, the Bank had conducted 107 training programmes benefiting 2,848 trainees.
      Financial Literacy & Credit Counseling Centre (FLCCC) viz., SNEHA:

      During the period under review, the Bank has set up one FLCCC viz. SNEHA at Kothagiri in the Nilgris District, Tamil Nadu State to cater to the needs of Tribals taking the total FLCCCs to 14 .

      These centres will educate the people in rural and urban areas with regard to various financial products and services available from formal financial sector, provide face to face financial counseling services and offer debt counseling to indebted individuals. FLCCCs will enable the user public to make informed choices regarding financial services/ products to derive the maximum benefits.

      Sakthi Indian Overseas Bank Chidambaram Chettyar Memorial Trust

      The Trust, set up jointly by the Management of the Bank, Indian Overseas Bank Officers’ Association and All India Overseas Bank Employees’ Union to perpetuate the memory of the founder of the Bank Shri M. Ct. M. Chidambaram Chettyar, continued to provide Entrepreneurial Development Training to women, thereby empowering them socially and financially to meet the challenges. The Trust has so far conducted several skill based training programmes and 55 Entrepreneurship Development Programmes (EDP) exclusively for women at various centres all over India, benefiting 3,136 women.
      Corporate Social Responsibility (CSR) ( From Website )
      IOB and Society:
      IOB has been committed to and involved in various social causes, the most prominent being women empowerment - the Sakthi IOB Chidambaram Chettiar Memorial Trust and IOB's Promotion of the Agricultural Seed Bank.
      The Sakthi IOB Chidambaram Chettiyar Memorial Trust is a public charity trust initiated by the Bank and its Staff Representative organisations in February 1996 in memory of Shri M.Ct.M.Chidambaram Chettiyar, the founder of IOB.
      To enable women in the lower strata of society to equip themselves with the essential skills and knowledge required for embarking on a career of their choice.
      The Sakthi IOB Chidambaram Chettiar Memorial Trust

       IOB's Commitment for Social Causes
      IOB's Promotion of Pulses Seed Bank is a project in association with M.S.Swaminathan Research Foundation, Chennai for the establishment of Seed Banks in various villages under Dryland farming.
      Most small and marginal farmers in the rain fed areas pay less attention to cultivating pulses consequently leading to the decline of productivity in this sector. This scheme is intended to increase the production of pulses in dryland farming.
      The Districts of Ramanathapuram and Pudukottai in Tamil Nadu were chosen for the 1st Phase of this project.
      The aim of this project is...
      -     To increase the availability of good quality seeds at the right time to the small and marginal farmers
      -    The provision of market linkages for pulses
      -    Sending in experts from the MSSR Foundation for demonstration of pulses cultivation in the rain fed areas
      Sakthi Indian Overseas Bank Chidambaram Chettiar Memorial Trust
      The Sakthi - IOB Chidambaram Chettiar Memorial Trust was established in 1995 to perpetuate the memory of the Founder of Indian Overseas Bank – Shri M.CT.M.Chidambaram Chettiar. The Trust was formally launched on 9.12.95 by the then Hon’ble Union Minister of State for Finance, Government of India Shri P.Chidambaram.
      The objective of the Trust is to empower the Women Folk in the lower strata of society through vocational training.

      Indian Overseas Bank Management, Indian Overseas Bank Officers Association and All India Overseas Bank Employees’ Union joined together, to serve the noble cause of helping women to acquire vocational skills and thereby embark upon self-employment ventures, so as to enable them to improve their economic status.

      The Sakthi – I.O.B Chidambaram Chettiar Memorial Trust was established in 1995, with an initial corpus of Rs.5.25 lakhs which has now increased to Rs.21.30 lakhs.

      Sakthi-I.O.B Trust provides skill based vocational training and entrepreneurial development programme all over India, to Women below poverty line.


      The Trust imparts Vocational training to women by having a tie-up with other institutions like NGOs, Service organisations and Non profitable Institutions.
      Skill based vocational Courses include the following activities:-
      1. Nursing Scheme
      2. Tailoring Course
      3. Secretarial Course
      4. Retail Sales Management
      5. Audio / Video Repairs/Mechanism
      6. Computer Application
      7. Care Taker training
      8. Screen Printing
      9. Needle Work
      10. Minor household repair
      11. Candle making
      12. Preparation of Pheynyl, Dishwashing Powder, soap oil, etc.
      So far, 1128 women below poverty line were benefited through the skill based vocational training.
      To create awareness and to groom the entrepreneurial traits of educated unemployed women, our Bank is conducting Entrepreneurship Development Programme for Women under the aegis of Sakthi - IOB Chidambaram Chettiar Memorial Trust since as early 2000.
      As a way of synthesizing the objectives of IOB-Sampoorna (Village Adoption Scheme) and Sakthi Trust, skill based training programmes for women are being conducted in select IOB Sampoorna Villages and Minority concentrated districts.


      Some of the Women Entrepreneurs were allowed to exhibit their products for sale during last three days of the program at the training Venue on a trial basis. It was well received by the visitors and the women entrepreneurs were also able to assess the marketability of their products.
      So far, the training courses under the aegis of Sakthi IOB Trust have benefited 3136 women below poverty line.

      The Trust continues the pursuit of its objective viz. upliftment of downtrodden women.
      For more information please visit
      URL: http://www.iob.in/RuralCommitment.aspx
      URL: http://www.iob.in/sakthi.aspx
      Chairman - M Narendra
      Registered Office
      Indian Overseas Bank Ltd.
      763, Anna Salai,
      Post Box No.3765,
      Chennai - 600002
      Tamil Nadu
      Tel  : 044 - 28519791 / 28415702
      Fax : 044 - 28585675
      Email  : investorcomp@...
      Website: www.iob.in
      URL: http://www.iob.in/uploads/CEDocuments/IOB%20Annual%20Report-final-2011-12%20.pdf
      Source: Indian Overseas Bank Ltd. Annual Report 2011-2012, Page No.: 27 to 29
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