IOB becomes 1st PSB to achieve ISO 31000:2018 certification in enterprise risk management

New Delhi: Indian Overseas Bank (IOB) observed Risk Awareness Day on March 2, reinforcing its commitment to strengthening enterprise-wide risk awareness and fostering a robust risk culture across the organisation.

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Marking a significant milestone, IOB announced that it has become the first public sector bank in India to align its Enterprise Risk Management (ERM) framework with ISO 31000:2018, a globally recognised standard for effective risk management. The move highlights the bank’s focus on adopting international best practices and enhancing its risk governance framework to support sustainable growth and organisational resilience.

Guided by its Risk Culture Policy, the bank continues to prioritise proactive risk identification, assessment and management as integral components of its business operations and strategic decision-making processes.

To commemorate the occasion, IOB organised a series of employee engagement initiatives, including the administration of a Risk Awareness Pledge, online competitions and the release of a special edition of its in-house risk management magazine, IOB Resilient (March 2026), which showcases key developments and best practices in risk governance.

The event was led by Managing Director & CEO Ajay Kumar Srivastava, along with Executive Directors Joydeep Dutta Roy and Dhanaraj T, who administered the Risk Awareness Day Pledge, reaffirming the bank’s collective commitment to building a resilient, risk-aware and future-ready organisation.

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