sri Ganganagar, referred to as SGNR in short, is a planned city in the Indian state of Rajasthan. It is the northern-most city of the state, located near the state border between Rajasthan and Punjab as well as the international border between India and Pakistan. It functions as the administrative headquarter of the eponymous district. The city is named after Maharaja Shri Ganga Singh Bahadur who was the Maharaja of Bikaner. Sri Ganganagar is often referred to as "the food basket of Rajasthan." SGNR is one the earliest well-planned modern cities of the country, believed to have been influenced by the town planning of Paris. The city is divided into blocks of the residential and commercial areas. The Sutlej enters Rajasthan near Sri Ganganagar. The city is situated on the Thar Desert and most of its flora and fauna survives on irrigation canals. Owing to its location, the city experiences extreme weather conditions - summer temperature can go up to 50 degrees and winters might be below zero degrees. The economy of Sri Ganganagar is based on agriculture. The desert town has been converted into a green city which supports the cultivation of wheat, mustard and cotton. Crops are guar, bajra, sugar cane and grams are also grown in this area. Farmers have recently started focusing on horticultural products too. The industries that have developed in the area are based on the agricultural produce. There are quite a few factories working on cotton ginning, pressing and spinning. Rice and sugar mills are also popular in the area.
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.