He handed over custody of the sacks of gold entrusted to him during the War, to the Indian Overseas Bank in Singapore.
IOB started up simultaneously at three branches, one each in Karaikudi, Madras (Chennai) and Rangoon (Yangon).
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The bank served the Nattukottai Chettiars, who were a mercantile class that at the time had spread from Chettinad in Tamil Nadu state to Ceylon (Sri Lanka), Burma (Myanmar), Malaya, Singapore, Java, Sumatra, and Saigon.
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M. Ct. M. Chidambaram Chettyar, the founder of Indian Overseas Bank and the United India Insurance, identified the location on Mount Road to construct an 18-storey building for his group's headquarters and conceived the building in 1952 as the head office of United India Life Assurance and New Guardian Life Insurance.
All major nationalized banks such as State Bank of India, Canara bank, Indian Bank, Indian Overseas Bank and private banks like Tamil Nadu Mercantile bank, Karur Vysya Bank, City Union Bank and Srivilliputhur Cooperative Ban, have their branches in Srivilliputhur.
Banks established by Chettiars include the now defunct Bank of Chettinad, and the now ICICI merged Bank of Madura founded by Karumuttu Thiagarajan Chettiar (an architect par excellence, textile don, highly principled educationist and philanthropist), Indian Overseas Bank founded by Shri.