Bulandshahr is a city as well as a municipal board in the Bulandshahr district in the Indian state of Uttar Pradesh. It functions as the administrative headquarters of the Bulandshahr District. Bulandshahr is around 70 kilometers away from Delhi and the city is a part of the National Capital Region. Bulandshahr has a population of more than 2.3 lakh people who mostly speak in Hindi. Bulandshahr is basically a religious city. There are many ancient temples, historical ruins and ghats of river Ganga. Urbanization has been slow in this area, yet there is no deficiency of factories and manufacturing units in the area that have significantly contributed to its economic development. The ceramic, pottery, handicrafts and garments are thriving industries at Bunlandshahr. The IT and retail sector are also gradually opening up at Bulandshahr. The residents of Bulandshahr are opening up to the various glamours of modern city life such as spas, boutiques, fitness centers and multiplexes. The city is also very popular among pilgrims and tourists, especially during annual festivals.
In 2000, Indian Overseas Bank engaged in an initial public offering (IPO) that brought the governments share in the banks equity down to 75%. In 2001, the IOB acquired the Mumbai-based Adarsha Janata Sahakari Bank. Then in 2009, the bank took over Shree Suvarna Sahakari Bank, which was founded in 1969 and had its head office in Pune. Since 2006, Shree Suvarna Sahakari Bank had been in administration. It had nine offices in Pune, 2 in Mumbai and 1 in Shirpur. The total strength of employees was estimated to be more than 100. On 29 August 2003, the Indian Overseas Bank has opened an extension counter at New Kathiresan Temple complex, Bambalapitiya, Ceylon. The IOB opened a representative office in Guangzhou, China in 2005 followed which the bank opened another representative office in Kuala Lumpur and 2009 in Dubai, UAE. In the new millennium, international expansion started once again. The bank took over Bharat Overseas Bank in 2007. After three years, Malaysia granted a commercial banking license to a local bank jointly owned by BOB, IOB, and the Andhra Bank. The new bank named, India International Bank ( IIB Malaysia), began its business in 2012 in Kuala Lumpur and had a large population of Indians. The Andhra Bank holds 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 opened an offshore banking unit in Colombo, Sri Lanka. The bank also converted its existing Extension Counter at Ceylon into a full-fledged branch.