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Credit Card Takeover Loan from IDBI Bank in Chittoor

The city of Chittoor is also the district headquarter of the Chittoor district in the Indian state of Andhra Pradesh and thus there are many district-level government institutions in this city. Chittoor also functions as the headquarters of the Chittoor Mandal and the Chittoor revenue division. The city has a population of more than 3.5 lakh residents who majorly speak in Telugu. However, the city also houses many Tamil, Kannada and Marathi speaking people. Chittoor is located in the southernmost part of Andhra Pradesh, on the banks of River Neeva. The economy of Chittoor is predominantly run by its agro-market. The city witnesses the production and trade of mango, grain, sugarcane and peanut. Tomato farming in Chittoor contributes to over 20% of the States production of tomatoes. The other industries in the region include oilseed, poultry and milk. It is the second largest milk producing district in the state and has an expansive dairy industry. Chittoor is also known for its textile industry. Silk is weaved in 13,000 power looms, providing employment to more than 40,000 workers. The granite industry is also known for its production of black, pink and grey granites. The historical Chandragiri Fort from the 11th century is the most notable landmark near Chittoor. Ardhagiri Anjaneyaswamy temple and Swayambu Varasidhi Vinayakaswamy temple are other notable landmarks in and around Chittoor.

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Low interest rate Credit Card Take Over Loan in Chittoor, 08 December 2021 from IDBI Bank

IDBI Bank was founded in 1964 under the Parliament Act as a wholly-owned subsidiary of the RBI. In 1976, GOI took the ownership of IDBI, and it became the primary financial institution for streamlining the activities of financing and developing industry institutions involved in India. In July 1995, After the public issue of IDBI, the government holding in the bank shares came down from 100% to 75%. RBI formed a committee which recommended the IDBI for diversification of its activities and harmonizing the role of development financing and banking activities by reducing the gap between commercial banking and developmental banking. To sync with reforms in the financial sector, IDBI reshaped to a commercial institution. IDBI obtained the status of a limited company under the IDB(Transfer of Undertaking and Repeal Act, 2003, viz, IDBI Ltd. The RBI conferred the scheduled bank status to IDBI under the RBI Act, 1934. As a result from 1st October 2004, the IDBI formally entered into banking business as IDBI Ltd. In the Forbes Global 2000, IDBI Bank was ranked 1197 in May 2013.Mr. B Sriram is the interim MD and CEO of the IDBI Bank. The equity shares of IDBI Bank is listed on Bombay Stock Exchange and NSE.

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