Indian Overseas Bank (IOB) has announced that The Government of India, vide its notification dated 26 October 2009 and in exercise of the powers conferred by sub-section 3(h) and (3-A) of Section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 / 1980 read with sub-clause (1) of clause 3 of the Nationolised Banks (Management and Miscellaneous Provisions) Scheme, 1970 / 1980, has nominated Sooraj Prakash Khatri as part-time non-official director of the Bank with effect from 26 October 2009 (being the date of the notification) for a second term of three years from the date of notification of his appointment or until further orders, whichever is earlier.

The bank made this announcement during the trading hours today, 02 November 2009.