Why in News? 

Indian Overseas Bank (IOB) marks its 89th Foundation Day on February 10, 2025, and partners with the Partnership for Carbon Accounting Financials (PCAF).   

About  

• Establishment: Founded in 1937 by M. Ct. M. Chidambaram Chettyar 
• Headquarters: Chennai, Tamil Nadu 
• MD & CEO: Ajay Kumar Srivastava 
• What is PCAF? A global group of financial institutions that measures and reports greenhouse gas (GHG) emissions from financial activities like loans and investments. 
• Why is IOB Joining PCAF? 
  • To measure and disclose its GHG emissions using global standards. 
  • Promote sustainable and eco-friendly banking. 
  • Support India’s climate goals and carbon neutrality efforts. 
  • Improve transparency and accountability in its environmental impact. 
  • Focus on green investments and low-carbon initiatives.