Indian Overseas Bank cancels EGM as director elected unopposed

Indian Overseas Bank (IOB) has canceled its extraordinary general meeting (EGM), initially slated for November 20, 2025, to elect a shareholder director. The decision follows the receipt of only one valid nomination for the director position by the November 4, 2025 deadline.

The nominated candidate, G. Venkataramanan, 60, holding a B.Sc. and Associate of Insurance Institute of India qualification, was found "Fit and Proper" by the bank’s nomination and remuneration committee on November 5, 2025. Consequently, Venkataramanan is deemed elected as the shareholder director and will assume office on December 3, 2025, for a three-year term, concluding on December 2, 2028.

Given that the election of the shareholder director was the sole agenda item for the EGM, the meeting, along with its associated e-voting period from November 17 to November 19, 2025, has been canceled. Venkataramanan brings over 35 years of experience from the life insurance sector, having served in various leadership roles at LIC, including zonal manager in-charge. He is not related to any existing IOB director.