Warangal is an important city in the Indian state of Telangana, which is the second largest in the state right after the capital city Hyderabad. The city is dotted with monuments and flouts a rich religious as well as cultural history. Warangal serves as the headquarters of Warangal Urban as well as Rural Districts. The city is divided into 58 political wards where with ward represented by an area comparator. Warangal has seen a rapid growth and urbanization in the recent years. Agriculture is the main economic activity. However, water crisis prevails and farming relies on irrigation depending mainly on the monsoons. Paddy, cotton, mango and wheat are some of the crops grown extensively in this area. Warangal has notable educational institutions such as the Kakatiya University, the Kakatiya Medical College and NIT Warangal. There are lots of attractions in and around Warangal for casual tourists as well as for students of history and culture. The Warangal Fort, Thousand Pillar Temple, Pakhal Lake, Kakatiya Rock garden, Kakatiya Musical Garden, Badhrakali Temple, etc are great places to visit in Warangal.
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.