Bokaro, or Bokaro Steel City, is a highly planned city located in the Indian state of Jharkhand. It functions as the administrative headquarters of the Bokaro district. It is one of the largest and most populous cities in Jharkhand. Bokaro was one of the earliest planned cities in the eastern part of India. The whole city is meticulously planned and organized into sectors with avenues, residential and commercial areas. Each sector is equipped with shopping complexes, schools, playgrounds, health centers and recreational facilities. The city has developed around the eponymous Bokaro Steel Plant which is an integrated public sector steel plant that was built with the help from the Soviet Government. It has now been merged with Indian Governments Steel Authority of India Limited or SAIL. The residents of this city are mostly employed in the Bokaro Steel Plant.
In 1964 the head office of Indian Overseas Bank was inaugurated at Mount Road. The Indian Overseas Bank has been the first public sector bank to introduce mobile banking services using Wireless Application Protocol(WAP). On 29 August 2003, the Indian Overseas Bank has opened an extension counter at Bambalapitiya, Ceylon. In 2005, the IOB began a representative office in Guangzhou; China followed which the bank opened another representative office in Kuala Lumpur and Dubai, UAE. In 2007 The bank took over Bharat Overseas Bank. After three years, Malaysia granted a commercial banking license to a local bank jointly owned by Bank Of Baroda, Indian Overseas Bank, and the Andhra Bank. The new bank named, India International Bank (IIB Malaysia), began its operations in 2012 in Kuala Lumpur and had a large population of Indians. The Andhra Bank has a 25% stake in its joint-venture, BOB owns 40%, and remaining 35% is with IOB. On 31 August 2013, the Indian Overseas Bank has incorporated an offshore banking unit in Colombo, Sri Lanka. The bank also converted its existing Extension Counter at Ceylon into a full-fledged branch. In 2014-15, the IOB bank has crossed the target of 3000 ATMs as on 2014.IOB also launched m passbook app as a new mobile banking initiative.