The city of Tirunelveli, a major city in the South Indian state of Tamil Nadu, is also known by the name Nellai. it was known as Tinnevelly during the British era. It is an ancient city which is about 2000 years old and it is a town of ancient tradition and culture. River Thamirabarani flows through this city. It is an educational hub with many schools and colleges such as Anna University Regional Campus, Tirunelveli Medical College, Tirunelveli Law College, the Tirunelveli Veterinary College and Research Institution, etc. Tirunelveli has around a million residents employed in the service-sectors pertaining to administration, agro-machinery, agricultural trading, tourism, banking, information technology and educational services. The city has beedi and cement factories, workshops for steel-based products, tobacco companies, mills for cotton textiles, spinning and weaving units, etc. There are several small-scale industries like tanneries and brick kilns. Agriculture, as well as the handloom industry, also contribute to the economic growth of the city. The city is very well-connected to the rest of the state and the country via road and railways. There are a number of historical monuments at Tirunelveli - the Swami Nellaiappar Temple being the most famous one.
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.