M. Narendra, Chairman of IOB announced that nearly 4,100 candidates are to be recruited for the current year against the 11,000 candidates in the last three years. He announced this in the 34th general council meeting for the employees and further declared that the strength of the bank has increased from 21,000 to 31,000.
IOB has been thinking of bringing down the average age of employee from 43 to 35 and is trying of increase the market share from 2.8% to 3.5%. The bank is striving hard to increase its status from being in the top seven to have a place in the top five nationalized banks.