Chennai, Feb. 19 -- Public sector lender Indian Overseas Bank (IOB) has introduced Aadhaar-OTP based account opening and API banking services to mark its 89th Foundation Day celebrations.

These initiatives aim to simplify banking services for both individual and corporate customers.

The Chennai-headquartered bank has rolled out an Aadhaar-OTP based savings account opening facility, allowing customers to open accounts seamlessly via the bank's website.

The digital onboarding process complies with the Reserve Bank of India's (RBI) Aadhaar OTP-based eKYC (Know Your Customer) guidelines, ensuring a secure and hassle-free experience.

With minimal documentation, customers can swiftly open accounts, subject to transaction limits as per regul...