IIndian Overseas Bank has come up with the concept of ‘Retail Mart Branches’ as part of efforts to further strengthen its retail portfolio, R Subramania Kumar, Managing Director & Chief Executive Officer, has said. The public sector bank has rolled out 55 branches as ‘Retail Mart Branches’ on pan-India basis, of which five has come up in Delhi. The branches are functioning with exclusive retail loan desk for processing, sanctioning and documentation of the loan. Mobilisation and quick disbursement of retail loans, namely, housing, vehicle, education and loan against property will be the specific focus area of these branches, according to Kumar.
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