Indian Overseas Bank Ltd.

Indian Overseas Bank Ltd.

Sales (2007-2008) = Rs.8000 crores (rounded off)

Net profit after tax = Rs.1200 crores (rounded off)

CSR Budget: Not available

Karmayog 2008 CSR Rating: 2/ 5

See Karmayog Comments below:

CSR activities:

The Sakthi – IOB Chidambaram Chettiar Memorial Trust was formed to perpetuate the memory of the founder of Indian Overseas Bank � Shri M.CT.M.Chidambaram Chettiar. This Trust was launched solely for the Empowerment of Women.

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 Trust came into legal existence on 9.2.96. The objective of the Trust is to empower the Women Folk in the lower strata of society through vocation training.

Indian Overseas Bank Management, Indian Overseas Bank Officers Association and All India Overseas Bank Employees� Union have joined together and came forward 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.17.50 lakhs with a contribution of Rs.13.00 lakhs from our Management, Rs.2.75 lakhs from the Officers� Association, Rs.1.50 lakhs from the Employees� Union and Rs.0.25 lakhs being the interest accrued on the investments made.

The Trust was established with the noble objective of providing Employment oriented vocational Training to the poor girls in the city of Chennai. Since inception, through our Sakthi-I.O.B Trust, 1408 women have been trained, involving an outlay of Rs.11.47 lakhs by involving many service organisations like Kaingkarya, Stenographers’ Guild, RPG Institute of Retail Management, Lotte Lemke Industrial School etc. As per the feedback received, more than 75% of these trainees have been gainfully employed.

Skill based vocational Training has been imparted to poor girls who are unable to pursue higher education after 10th or 12th standard. The Trust has so far trained 1013 girls at a total outlay of Rs.9.18 lakhs in the field of Nursing, Tailoring, Office Assistance, Retail Sales Management, Repairing of Audio / Video equipments, candle making, Minor household repairs etc.

11 Entrepreneurial Development Programmes exclusively for women have been conducted at various centres like Chennai, Kodaikanal, Trivandrum, Tirunelveli, Thanjavur, Karaikudi & Nagercoil at a total outlay of Rs.2.29 lakhs, benefiting 395 women.

The Trust imparts Vocational training to women by having a tie-up with other institutions like NGOs, Service organisations and Non profitable Institutions.

SAKTHI SCHEME FOR UPLIFTMENT OF DOWNTRODDEN WOMEN

Through this innovative scheme the bank has so far given vocational training to downtrodden women in the employment generating schemes:

Till December 2003 under this scheme 1478 women have been trained with an outlay of over Rs.11.86 lacs. All these women who have undergone vocational training have been gainfully employed. To cite a few illustrations:-

Under the Nursing scheme so far 220 women have been trained and all of them have secured employment in reputed hospitals, with a salary range Rs.1500 to Rs.2000/- p.m.
In respect of the Tailoring training, so far 290 women have been trained and all of them are doing tailoring jobs on their own or are gainfully employed. A sizeable number of such trained women have been also absorbed in many Garment export Units in Madras Export Processing Zone (MEPZ) where they get a decent salary.
95 candidates who have been trained in Secretarial course have secured employment with a salary ranging from Rs.1400-1500.
Under Sakthi Scheme we have tied up with like minded institutions and have given job-orientation programme in retail management in coordination with RPG Institute of Retail Management. As on date 53 women have undergone training and they have been employed in retail chain outlets like FOOD WORLD, HEALTH & GLOW, NILGIRIS Dept. Stores, VIVEKS, L.G showroom etc. with attractive salary.
Computer education and application are gaining importance and the Trust has identified this as a potential source of employment for women. Short Term Courses on Computer Application have been conducted at institutions like BITS, NIIT and APTECH. 235 candidates have been trained so far.
Care taker Training is a new area of training where girls are trained to look after old people, spastics and mentally retarded children. So far 19 girls are trained and all are employed in such institutions run by Spastics Society etc.
Audio � Video Repairs / Mechanism: Girls are trained exclusively in assembling Radio, TV, and their repairs/servicing etc. for a duration of 2 years and get Govt recognised certificate. 8 girls have completed training. They get regular part time jobs in TV service shops and assembling units even during their training period.

The other avocation of training of the Trust includes screen printing, needle work, minor household repair, candle making, preparation of phenyl, dishing washing powder making, soap oil etc. targeting below poverty line women.

SAKTHI � IOB CHIDAMBARAM CHETTIAR MEMORIAL TRUST also plans to sponsor training for physically challenged women, shortly.

ENTREPRENEURSHIP DEVELOPMENT PROGRAMME FOR WOMEN

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.

SELECTION OF CANDIDATES

News item/announcement is published in Dailies ‘The Hindu’, ‘Dinamani’ and ‘Dinakaran’ on various dates regarding conduct of this training programme. Candidates are short-listed by conducting the interview for two days in the Department. Selected candidates include professionally qualified (B.E., M.B.A. and B.Sc. Agri) post graduates, graduates, diploma holders and matriculates

FEED BACK:

From the feed back collected from the trainees, it is observed that the programme was very useful which provided them information in all fields and enabled them to gain confidence to start a business and to run it in a systematic manner.

ORGANISATION OF BAZAAR

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.

INTERFACE:

Within 3 months of the completion of the E.D.P, we call the trainees for an interface. We have an interactive discussion with them on the various difficulties experienced by them in starting / conducting their business and give them suggestions / advice to over come the same.

Annual Report ’07-’08 pg 22

Sakthi – Indian Overseas Bank Chidambaram Chettiar 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 Chettiar, is continuing the pursuit of its objective of �affording training to women for acquiring skills which will increase the income and

Create employment opportunities�. The Trust has so far imparted skill based vocational training to 1,128 women who have been gainfully employed. The Trust is also conducting Entrepreneurship Development Programme (EDP) for Women and so far, 34 EDPs exclusively for women have been conducted by the Bank, at various centers totally benefiting 1,239 women. After 3 �6 months from the date of completion of the EDP, an interface with the trainees is arranged to sort out the problems. For these Women Entrepreneurs and SHGs, �IOB Sakthi Bazaars� are also organised at a few of the branches, to exhibit their products for sale. 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. During the year under review, as Convenor of SLBC, Tamil Nadu, the Bank conducted three SLBC

Meetings and a State Level Review Meeting.

IOB-Sampoorna Project-A Total Village Development Project

The Bank has recently launched an innovative rural development project aiming at Total Village Development called IOB-Sampoorna in Kuthambakkam and Padur Villages in Tiruvallur District in Tamil Nadu. IOBSampoorna is an unique Project encompassing several livelihood initiatives in the villages to ensure all-inclusive

growth of rural population. IOB-Sampoorna comprises of the following credit and non-credit components.

Under total sanitation scheme, a sum of Rs. 45 lacs has been sanctioned for constructing bathroom cum toilet for 900 households (@Rs.5,000 / house), in Kuthambakkam village under DRI.
I.T.Enabled banking operations with Bio-metric Smart cards through Business Correspondent model.
Tree Planting and Social Forestry
Cleaning Water Bodies
Health care
Skill Training for youth in computer and BPO
Rural Business Process Outsourcing
Promotion of non-conventional energy.

Source: http://iob.in/sakthi.aspx

http://iob.in/Minority_Sachar_Committee.aspx

http://iob.in/uploads/AR_2007-08.pdf pg 22

Karmayog Comments: No substantial work done in community as per the information available on webpage and Annual report �07-�08

Contact Information:

Indian Overseas Bank

763 Anna Salai, Post Box No 3765

Chennai � 600002

Tamil Nadu

Phone no.. : 44-28519491/28519438/28415702

Fax : 44-28523372

E-mail : investor@iobnet.co.in

Website : http://iob.in/

Industry Sector: Banks – Public Sector

Products / Services: Banks – Public Sector

Other locations of factories / offices: Branches all over the country

Previous year�s CSR activities & rating: