Hyderabad: In an attempt to spread its wings across different regions, Indian Overseas Bank (IOB) plans to join hands with mobile operators to use their agents as business correspondents in semi-urban and rural areas. "We may seal some deals in three to six months as we are upbeat on business correspondents," S.A. Bhat, Chairman and Managing Director, IOB, told Business Line. As most of the mobile operators have agents selling their SIM cards, the same agents could also double up as business correspondents. "This will give us wide reach and access to semi urban and rural markets," Bhat added. The Chennai-based bank is also ramping up its current business correspondents from 100 to 300 by the end of this fiscal as part of its focus on rural business. The bank would also open 53 new branches by March. "In addition, we will open new branches in semi-urban and rural areas," Bhat added.