Kavali is situated in the Nellore district of Andhra Pradesh. It is a major municipal corporation in Andhra Pradesh and also the second largest city in the Nellore district. The city has around 1 lakh residents who mostly speak in Telugu. The name of this city was coined by Potuluri Veerabrahmendra Swami. It means patrol in the local language. This is because the Udayagiri king, Harihara Rayulu, had stationed his army at this town in 1515. Kavali is often referred to by the name "Kanakapatnam" which means "wealth will flow into this place." Kavali is a seaside town, located 8 kilometers away from the Bay of Bengal coastline. The National Highway 16 and the Kavali railway station on the Howrah-Chennai main line ensures a great connectivity to this city. Apart from the government-run and private educational institutions, the Visvodaya group has set up many schools and colleges at Kavali. This scenic city provides a pleasant environment to live in, away from the busy city life and traffic.
The Central Bank of India was found on 21st December 1911. Its head office is in Mumbai. The stocks of the bank are listed on Bombay Stock Exchange and National Stock Exchange in India. In 1938, the Barclays bank acquired the Central Bank Exchange of India. In 1963, Central Bank of Indias operations in Burma was nationalized by the government of Burma, and it became Peoples Bank No. 1. In 1969, the Central Bank was nationalized by the Indian Government on 19 July, together with 13 others.In the year 1980, Central Bank of India was one of the first banks in India to issue credit cards in collaboration with MasterCard. For the year ended 2013, Central Bank of India announces that the total business of Rs. 402000 Cr and the net profit of Rs. 1015 Cr. A new CMD, Mr. Rajiv Rishi was appointed by the Central Bank of India on 1 August 2013, who was previously ED of Indian Bank and General Manager of OBC. On 1 November 2013, the bank opened its second representative office in Hong Kong.