Asansol, a city in the Burdwan district of the Indian state of West Bengal, is the states second largest city in terms of area and population. It is a Tier-II city which rapidly developing. The city has derived its name from two words - "Asan" refers to a 30 meters tall found near River Damodar and "Sol" refers to land. Thus, these two words combine to form the name of this city which is incredibly rich in minerals. This cosmopolitan city is located on the lower Chota Nagpur Plateau and it shares the border with the Dhanbad district in the adjoining state of Jharkhand. The economy of this city is principally dependent on its steel and coal industries. The IISCO or Indian Iron and Steel Company Ltd steel-making plant at Kulti in Asansol was the first of such facility in India and is undergoing major renovations to come back with doubled production rate. Eastern Coalfields has a significant presence in the Asansol due to the enormous deposits of high-quality coal in and around the city. The railway is a big contributor to Asansols economy as many residents are employed in the Chittaranjan Locomotive Works which is one of the worlds largest locomotive manufacturers.
The Indian Bank was established on 15 August 1907 as a part of Swadeshi movement. The bank is serving the nation with a dedicated staff of 19,843 as of 31st March 2018, and total business of the bank has touched Rs3,70,000 Crores. The bank has its overseas branches in Singapore, Colombo along with a foreign currency banking unit at Columbo and Jaffna. The two subsidiary diversified banking activities include IndBank Merchant Banking Services Ltd and Ind Bank Housing Ltd. The bank has allocated 2975 sub service areas as per Pradhan Mantri Jan-Dhan Seva Scheme under Finacial Inclusion Plan. The Indian Bank has a major role in introducing Self Help Groups(SHGs) and Financial Inclusion Projects in the country. The NABARD had awarded Indian Bank for being one among the two PSBs which linked the credit with the SHGs during 36th Foundation Day celebration at NABARD. The Indian Bank has also received Best Performer Award for microfinance activities in Kerela, Tamil Nadu and Puducherry(UT). Till now the bank has incorporated 39 specialized microfinance offices across the country.