Mirzapur is an important city in Uttar Pradesh. It hosts more than two million residents. The Ganges meets with Vindhya Range in the vicinity of the city and thus accounts for the scenic locations. The city is encompassed by several hills and has many waterfalls and natural spots. It functions as the headquarter of the Mirzapur district. Mirzapur is known for its carpets and brassware industries which are manufactured in the city and exported worldwide. These industries drive the economy of the city. The city was mostly built by the British and hosts plenty of memorials and architectural wonders from the colonial era. The clock tower in Mirzapur is highly significant as the longitude of Indian Standard Time at 82.5? passes through it and the Indian Standard Time is calculated from here. Mirzapur is known for the holy shrine of Vindhyachal, Ashtbhuja and Kali Khoh. It hosts the famous Devrahwa Baba 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.