INDIAN OVERSEAS BANK BECOMES 1st PSB IN INDIA TO BE CERTIFIED WITH ISO 31000:2018 IN ENTERPRISE RISK MANAGEMENT

Chennai, March 2, 2026: Indian Overseas Bank (IOB), a leading Public Sector Bank, observed Risk Awareness Day on March 2, 2026, reaffirming its commitment to strengthening enterprise-wide risk awareness and promoting a strong risk culture across the organization.

A key highlight of the occasion was Indian Overseas Bank becoming the first Public Sector Bank in India to align its Enterprise Risk Management (ERM) framework with ISO 31000:2018, the globally recognized standard for effective risk management. This significant milestone underscores the Bank’s commitment to adopting international best practices and further enhancing its risk governance framework to support sustainable growth and organizational resilience.

Guided by its Risk Culture Policy, the Bank continues to emphasize proactive risk identification, assessment, and management as integral to its business and strategic decision-making processes. To commemorate the day, the Bank organized various employee engagement initiatives, including the administration of the Risk Awareness Pledge, online competitions, and the release of a special edition of its in-house risk management magazine, IOB Resilient (March 2026), highlighting key developments and best practices in risk governance.

The event was led by the Bank’s Managing Director & CEO, Shri Ajay Kumar Srivastava, along with Executive Directors Shri Joydeep Dutta Roy and Shri Dhanaraj T, who administered the Risk Awareness Day Pledge, reaffirming the Bank’s collective commitment to building a resilient, risk-aware, and future-ready organization.