The city of Hapur is located in the district of the same name in the Indian state of Uttar Pradesh. It was earlier known as Haripur. The city falls under the National Capital Region and functions as the headquarters of the Hapur district. The city had been under the dominance of the French and the British. It has always been known for its several fine groves that surround the city. The economy of Hapur depends upon the cultivation and trade of sugar, grain, bamboo, cotton and timber. Brass utensils are also manufactured in Hapur and exported. The city is being rapidly developed. The Hapur-Pilkhuwa Development Region is being set up with many colleges, schools and a research institute. Housing complexes are also being constructed with large amounts of investment from famous developers such as Ansal Housing Group, Eros Group, etc. The city has an approximate population of 2.5 lakh residents. Steady and rapid urbanization will make Hapur a much-coveted place to settle in.
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.