Guna is a small city in the Indian state of Madhya Pradesh. It functions as the administrative headquarter of the eponymous district. The city lies on the north-eastern regions of Malwa Plateau and is defined by the Parbati river in the west. Guna is an acronym for Gwalior United Nation Army. It was founded by Chand Pradyota Mahesena and was a part of the ancient Avanti Kingdom. It was later added to the growing empire of Magadha. It passed on to the Marathas and to the Kingdom of Gwalior till it was made a part of Madhya Pradesh in 1956. Although Guna is very small and nondescript town, it still functions as an important industrial center with major industries such as National Fertilizers Limited, Gas Authority of India Limited, Deepak Spinners Limited, KS Oil Ltd, Spice park at Mavan, etc. The first private state university of the state is at Guna. The Jaypee University of Engineering & Technology has a sprawling campus in Guna which offers facilities like hostel, mess, laundry, shopping center, medical center, etc. to the 1500+ students. A few places worth visiting in and around Guna are Shri Shanti Nath Digambar Jain temple at Bajrangarh, Bees Bhuja Devi, Kedarnath, Hanuman Tekri, Christ The King Church and Panchmukhi Hanuman Ashram.
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.