Indian Overseas Bank cancels EGM after unopposed director appointment

Indian Overseas Bank (IOB) has canceled its Extraordinary General Meeting (EGM) originally scheduled for November 20, 2025, to elect a shareholder director. This decision, announced November 5, 2025, follows the receipt of only one valid nomination for the position, Shri G. Venkataramanan, by the November 4, 2025 deadline. The nomination and remuneration committee confirmed Shri G. Venkataramanan as 'fit and proper' according to RBI master directions.

Shri G. Venkataramanan, 60, holds a B.Sc. and is an associate of the Insurance Institute of India. He has over 35 years of experience in the life insurance sector, having joined LIC as a direct recruit officer in 1989. He held various positions, including head of marketing and customer relationship management for the South Zone, and retired as zonal manager in-charge of the South Zone, Chennai, in the rank of executive director on July 31, 2025.

Shri G. Venkataramanan will assume office as a shareholder director for a three-year term, effective December 3, 2025, until December 2, 2028. He is not related to any other director of the bank and is not debarred from holding the office. As his election was the sole agenda item for the EGM, the meeting and associated e-voting, initially scheduled from November 17-19, 2025, have been canceled.