Munger, along with Jamalpur, is considered to be a twin city situated in the Indian state of Bihar. It functions as the administrative headquarters of the Munger district as well as the Munger Division. Munger, situated on the banks of the holy Ganga, was an ancient seat of rule. Asias largest and oldest railway workshop, which was set up by the British in 1862, is operated by the Indian Railways at Jamalpur. Munger has an ITC Factory established by the British along with a Gun Factory, ITC Milk Dairy and many others. Munger has a strong network of railway and roads, connecting it to all the important neighboring areas. The places in and around Munger that are worth visiting are Munger Fort, Chandika Asthan, Kastaharni Ghat on the Ganges, Khanqah Rahmani, Bhimbandh Wildlife Sanctuary, Yoga Ashram, Rahmani Foundation, 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.