Indian Overseas Bank (IOB) is a major Indian nationalised bank. It is under the ownership of Ministry of Finance, Government of India based in Tamilnadu, India, with about 3,400 domestic branches, about 6 foreign branches and representative office. Founded in February 1937 by M. Ct. M. Chidambaram Chettyar with twin objectives of specialising in foreign exchange business and overseas banking, it has created various milestones in Indian Banking Sector. As on 31 March 2021, IOB's total business stands at ₹379,885 crore (US$50 billion).