Naihati is a riverside town in the Indian state of West Bengal. It is situated in the Barrackpore subdivision of the North 24 Parganas district. Naihati municipality, established in 1869, is one of the oldest in the country. Bankim Chandra Chattopadhyay, who wrote Indias national song Vande Mataram, was born in Naihati. Naihati had a vibrant industrial area. The jute mills along the bank of the Hooghly River were thriving and prosperous at a time, which attracted a lot of immigrants from the neighboring state of Bihar and Odisha. Hence, a large portion of Naihatis 2 lakh residents are immigrants who have settled down in shanty towns around the mill area. The Jenson & Nicholson factory was the first of its kind to be set up at Naihati. It produces paints, varnishes, pigments and allied products. The Gouripore Jute Mill and the Nuddea Jute Mills were leading providers of employment in Naihati. Naihati is also notable for fish farming - various genus of fish like Katla, Koi, Magur, Pabda, Rohu, etc. are reared in several fisheries in the area. Naihati railway station is also an important railway junction on the Indian Railways network. Durga Puja and Kali Puja are celebrated at Naihati with much pomp and show.
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.