The first "To be" means "In order to be". This is the standard pattern "(In order) to + infinitive". "eligible to be sponsored" is the pattern "eligible to + infinitive", with passive infinitive "to be sponsored".
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Indian Overseas bank is a bank that provides <a hrefs=" Net Banking</a> service along with
<a hrefs=" Mobile Banking</a> through which one can make their transactions similar to that of
<a hrefs=" Internet Banking</a> by iob bank.