Full formBanking & Finance
OIBstands forOverseas Indian Bank
Full Form of OIB
What is OIB?
The Overseas Indian Bank (OIB) was a prominent public-sector bank in India, established in 1937 with its headquarters in Chennai. It specialised in catering to the banking needs of overseas Indians and non-resident Indians (NRIs), offering services such as remittances, foreign exchange, and NRI deposit accounts. OIB played a significant role in facilitating financial transactions between India and its diaspora, particularly in the Middle East, Southeast Asia, and other regions with large Indian communities. The bank was widely known for its robust correspondent banking network and customer-friendly NRI services. In 2003, OIB was merged with ICICI Bank, one of India's leading private-sector banks, as part of a consolidation strategy by the government to strengthen the banking sector. The merger allowed ICICI Bank to expand its NRI client base significantly. Today, OIB is often referenced in banking awareness sections of competitive exams like IBPS PO, SBI Clerk, and RBI Grade B, where questions about historical bank mergers and their founders appear. Although the brand no longer exists, its legacy continues in ICICI Bank's NRI banking division.
OIB का फुल फॉर्म
ओवरसीज इंडियन बैंक
Example
Many NRIs who used Overseas Indian Bank services transitioned smoothly to ICICI Bank after the 2003 merger.
OIB — frequently asked questions
What is the full form of OIB?
The full form of OIB is Overseas Indian Bank, a former Indian public-sector bank that specialised in NRI banking.
When was Overseas Indian Bank merged and with which bank?
Overseas Indian Bank was merged with ICICI Bank in 2003, as part of a consolidation move by the Indian government.
Is Overseas Indian Bank still operational?
No, OIB no longer exists as a separate entity; it was merged into ICICI Bank and its branches now operate under the ICICI brand.