Yamunanagar is a municipal corporation in the eponymous district of the Indian state of Haryana. The river Yamuna runs through the city and thats how the city has got its name. The town is popular for its cluster of plywood units, which provides Indias finest timber to even larger industries. The old town of Yamunanagar is called Jagadhri. The Jagadhri railway station is situated in Yamunanagar and it services the city. Yamunanagar used to be a green, clean and prosperous industrial city which has recently developed severe pollution problems. The city is rapidly developing, with the inauguration of many multiplexes and various high-end brand stores. The city has nearly 4 lakh residents who speak in Hindi, Pwadhi, Punjabi and Haryanvi. The Ballarpur Industries Limited at Yamunanagar is the countrys largest manufacturer of writing and printing paper. The city manufactures paper and sugar machinery and other equipment for petrochemical plants, that are shipped to various other refineries across the country. The city is known for its plywood industry, which runs on the easily accessible raw material ? poplar tree. Yamunanagar has one of Indias biggest railway carriage and wagon repair workshops. Reliance has recently installed a Thermal Power Station in the town.
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.