Current Affairs - Banking - Discussion

Indian Overseas Bank introduced an Online Death Claim Settlement Portal to provide a simplified, transparent, and time-bound solution for families and legal heirs. The digital platform enables online submission of claimant details, document uploads, and real-time tracking of claim status, eliminating the need for repeated branch visits. For claims up to ₹15 lakh, the bank has removed the requirement of third-party surety and reduced documentation, ensuring settlement within 15 days. Alongside this initiative, the bank also launched a new corporate website, reinforcing its commitment to digital transformation while maintaining a compassionate, customer-centric approach.