Vadodara is more popularly known by its earlier name Baroda. It is an important city in Gujarat. Vadodara stands third among the largest cities in Gujarat, closely following Ahmedabad and Surat. It is known for its rich cultural heritage, and hence the city has earned the name of the ?Sanskrit Nagar? or the ?Kala Nagari? (City of Arts). After the Mughals were expelled by the Marathas from Gujarat, their local lieutenants known as the Gaekwad clan settled down in Vadodara. The descendants of the royal family still remain in this city in the famous Lakshmi Vilas Palace. Fertilizers, medicines, compounds, fisheries, dairy, fiber weaves and machine gears contribute to this citys economy. Crops like rice, wheat, grams, sugarcane, yellow peas and yarn are harvested in Vadodara. The city is located on the banks of the Vishwamitri river. Vadodara experiences a semi-arid climate, with dry summers and winters and humid monsoon days. Many large-scale and heavy industries can be found in this city. Units of Indian Oil Corporation (IOCL), Indian Petrochemicals Corporation Limited (IPCL), Gujarat State Fertilizers & Chemicals (GSFC), Oil and Natural Gas Corporation (or ONGC), Gujarat Alkalis and Chemicals Limited (GACL) and Gas Authority of India Limited (GAIL) are to be found in and around the city. There are numerous educational institutions in Vadodara including the largest university in Gujarat - Maharaja Sayajirao University of Baroda.
Federal Bank Limited was established on 28th April 1931. In September 2006, the Ganesh Bank of Kurundwad was merged with Federal Bank, and the total number of the bank branches crossed 500. In July 2011, the Federal office launched the general insurance cover for stabilizing the relationship with the clients. FedDelight, banks unique gift card was launched in September 2011. In November 2011, the bank started its 24/7 customer care which was controlled by differently abled people. The Federal Bank has also signed an agreement with Samba Bank for inward remittance. The stocks of the bank get listed on the BSE Index in 2012. In August 2013, the bank launched its first electronic passbook named Fedbook in India, and it was awarded as the most active organization. The bank has adopted an exclusive video conferencing facility named Vconnect to enable customers to interact with relationship managers of the bank. In June 2015, the bank launched an innovative payment app for its customers named, Scan n Pay. Another initiative in digital banking was Fed-E-Credit, the first digital loan in August 2015. In January 2016, the bank introduced miss call based banking services for fund transfer.