Chennai
Public-sector lender Indian Overseas Bank (IOB) has launched new retail loan processing centres (RLPCs) in Chennai and seven other key locations across India, as part of its effort to enhance customer experience and improve service delivery.
Chennai-headquartered IOB has inaugurated a total of eight RLPCs, with one physical centre in Chennai and seven others launched virtually across major cities.
These new centres are designed to streamline loan approval processes, reduce turnaround time, and provide faster and more efficient services to retail customers, according to a statement from the bank.
The RLPCs were launched in Bangalore, Coimbatore, Delhi, Hyderabad, Kolkata, Lucknow, and Mumbai, all of which are equipped with advanced digital technology and automation to expedite loan approvals and disbursements.
“Our new retail loan Processing centres are not just about convenience; they represent a smarter, more resilient banking framework. By harnessing digital tools and advanced analytics, we are improving risk management while significantly reducing loan processing times,” said Ajay Kumar Srivastava, MD & CEO of Indian Overseas Bank.
In addition, the bank has inaugurated a heritage-themed ATM at Puratchi Thalaivar Dr MGR Central Railway Station in Chennai.
This ATM is designed as a replica of the historic Victorian-era redbrick station building.
“This ATM serves as a tribute to the heritage of Central Railway Station, a landmark that has witnessed Chennai’s evolving history,” Srivastava added.