The city of Ambarnath, in the Indian state of Maharashtra, is also a part of the Mumbai Metropolitan Region. It falls within the territorial boundaries of the Thane district. The city is often spelled as Ambernath. The name Ambarnath translates to the Lord of the Sky and refers to Lord Shiva. The city is the site of an old temple dedicated to Lord Shiva, from 1060 AD. Like all suburbs of Mumbai, the railway track divides the city of Ambarnath into Ambarnath East and Ambarnath West. Ambarnath west has developed as an industrial zone and it has numerous small and large chemical factories. The government of India has set up an Ordnance Factory in the region, which is slowly developing a residential neighborhood in the area. There is a large safety matchstick manufacturing facility of WIMCO is located in this region along with more than 150 large-scale industries such as textile, aerospace, chemicals, edible goods and electrical hardware. Ambarnath East is mostly a residential area. The famous Shiva temple is located in Ambarnath East along with several residential and sporting complexes.
Corporation Bank was started about 111 years ago in 1906, with an initial capital amount of just Rs.5000/-. The bank has recorded Rs. 3,03,185 Crore mark in business, with more than 9900 service outlets across the nation, served by committed and dedicated over 19,000 Corp Bankers. The evidence of its growth can be seen in its financial performance and enviable track record. The prominent reason for bank celebration is empowering the rural and urban population together by being able to participate in nation building. Today, the Corporation Bank is the significant contributor to the growth of the countrys economy. After getting nationalized in 1980, the Corporation Bank evolved and adapted to the financial sector reforms. It became the Second Public Sector Bank in the country to enter capital market, the IPO of which was oversubscribed by more than thirteen times. The Bank took many initiatives in credit services such as Cash Management Services, m-Commerce, " Online " approvals for Educational loans, 100% CBS Compliance and more recently, the bank made an effort in taking the technology to remotest villages through low-cost branchless banking or Business Correspondent model.