Jamalpur, a part of Munger-Jamalpur twin cities, is situated in the Indian state of Bihar. The name Jamalpur is an amalgam of two words - Jamal which means beautiful and pur which means town. True to its name, Jamalpur is indeed a beautiful town with a scenic landscape and peaceful environment. It is situated 8 kilometers from its twin city of Munger. There are more than 1 lakh residents in this city and they speak in a variety of languages such as Maithili, Hindi, Angika, Bhojpuri, Bengali and Urdu. Jamalpur is recognized for the Jamalpur Locomotive Workshop. It provides employment opportunities to more than 25000 people at its training institution known as The Indian Railways Institute of Mechanical and Electrical Engineering. The town, as well as the railway institute, was established in 1862 during the British Raj. Apart from the railway workshop, the economy of the city is also driven by a foundry, metallurgical lab facilities and machine tool facilities. "Kali Pahar" atop Jamalpur Hill, is a paleolithic site where quartzine from the Early and Middle Stone Ages was found.
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.