Haldia is an industrial city as well as a port city in the Indian state of West Bengal. It is located in the Purba Medinipur district. Haldia has a major river port and an industrial belt, situated at a distance of more than 100 kilometers from Kolkata, near the mouth of the Hooghly River. The Haldi River, an offshoot of Ganges, borders the Haldia Township. Haldia is a center for the petrochemical industry and is being improved into a major trade port for Kolkata. The city has around 2 lakh residents, mostly employed in the industrial sector. Haldia has numerous factories such as South Asian Petrochemicals Ltd, Exide, Indian Oil Corporation Limited, Tata Chemicals, India Power Corporation Ltd., Haldia Petrochemicals, Mitsubishi Chemical Corporations, Hindustan Lever, etc. in addition to several light industries. Apart from being well connected to the rest of the country via railway and road, Haldia is also connected via waterway. The National Waterway 1 is a 1620 km long inland waterway. It connects Haldia to Allahabad and runs across the Ganges, the Bhagirathi river and the Hooghly river systems. Haldia has a mini Japanese township called Sataku. A Japanese community lives in the area, whose residents work as engineers and top executives in the Mitsubishi Chemical Corporations purified terephthalic acid plant in Haldia.
The Indian Bank was founded on 15th August,1907. Fourteen top banks were nationalized by the Indian Government on 19th July,1969, including Indian Bank. As a result of the nationalization, the branches of nationalized Indian banks in Malaysia were forbidden to continue operations as parent branches. At that time, Indian Bank had three offices. In 1973, the three branches merged to establish United Asian Bank Berhad and take over their Malaysian operations. After the nationalization, Indian Bank was left with only two foreign offices, one in Colombo and the other in Singapore. The International expansion resumed in 1978 with Indian Bank becoming a technical adviser to PT Bank Rama in Indonesia. Two years later, Indian Bank, BOB, and UBI established Indian Union Bank International Finance, in Hong Kong. The three banks had an equal share in the joint venture; the Indian Banks Chairman became the first Chairman of IUB International Finance. In May 1980, the Indian Bank also opened a foreign currency unit at its branch in Colombo. In 1981, the Indian Bank set up its first Regional Rural Bank, in Chittoor.