Dhule is one of the major cities in the Indian state of Maharashtra. Situated on the banks of Panzara River, Dhule lies in the verdurous valley of the Tapti River. It is a municipal corporation in Dhule District situated in the Khandesh region of Maharashtra. Sir Mokshagundam Visvesvaraya had planned this city. There is a famous temple of Devi Ekveera on the banks of the Panzara River, who is regarded as a Gramadevata of the city. The city experiences dry weather except for the rainy days of the monsoon. Dhule is considered to be one of the upcoming hubs of the power loom, textile and edible oil. Since it is situated at the junction of three major National Highways (NH-3, NH-6, and NH-211), it is considered to have a strategic advantage for trade. The Ministry of Electronics and IT is set to open a BPO at Dhule. The city boasts of its educational heritage which a large number of educational institutes like the SES College of Engineering, WKDSPMs Dr. Babasaheb Ambedkar Memorial College of Law, Mukesh Patel Technology Park - Narsee Monjee Institute of Management Studies, etc.
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.