At present Indian overseas bank is having 10 branches and 3 representative offices in abroad. Finance Minister Mr. P Chidambaram has asked the bank to open more branches overseas. While celebrating the 78th foundation day of the bank Mr. Chidambaram told the bank to continue opening the overseas branch. Bank should not open the branches only in India, but should build the banking network abroad, where India is having trading partners.
Highlighting the bank’s expansion plan, the Chairman and managing director of the bank reported that he is waiting for the approval from RBI to launch a branch in Dubai, however the bank is launching its second branch in Bangkok in coming three months.