Indian Overseas Bank opens retail loan processing centres across cities

Public sector Indian Overseas Bank has unveiled retail loan processing centres in multiple cities aimed at streamlining the loan approval processes and reduce turn around time, a top official said.

As many as eight Retail Loan Processing Centres were inaugurated in physical mode in Chennai while seven others were launched in virtual mode across cities, the bank's Managing Director and CEO Ajay Kumar Srivastava said.

"Our new Retail Loan Processing Centres are not just about convenience. It is about building a smarter, more resilient banking framework. By harnessing digital tools and advanced analytics, we are ensuring stronger risk management while significantly reducing loan processing times," he said.

The Retail Loan Processing Centre is designed to streamline the loan approval process, reduce turnaround time and provide faster and more efficient services to retail customers, he said in a statement on Sunday.

Indian Overseas Bank has set up the RLPCs in Bengaluru, Coimbatore, Del