Karaikudi is situated in the Sivaganga district of Tamil Nadu. It is a greater municipality and the states 20th largest urban agglomeration. It is part of the Chettinad area and has been declared a heritage town by the State Government of Tamil Nadu. Karaikudi is known for its palatial houses that are built with limestone called Karai Veedu. Karaikudi has derived its name from the thorny plant called Karai. It has been referred to in the ancient literature as Kareekudi. The name gradually got modified and modernized into Karaikudi. It was established in the 19th century. The oldest known structure in the area is the Koppudaiya Nayagi Amman Temple. The town of Karaikudi is home to the Nagarathars and the Chettiars who form the business community, the financiers and the trade facilitators. Karaikudi is a rapidly developing urban center. UNESCO has proposed to set up a Chettinad Heritage Museum in the area, recognizing the unique architectural style of the region. Karaikudi is known for its palm leaf baskets woven by the women, known as Chettinad Kottan. Chettinadu Kandangi sarees of Karaikudi are widely popular in the region. The handicraft industry in Karaikudi is indeed a thriving business. Karaikudi is also known for its delectable cuisine. There are many prominent temples in the area that attract tourists. Kundrakudi Shanmuganathan Temple, Ariyakudi Thiruvengamudayan Temple, Pillayarpatti Karpagavinayagar temple, Thirumayam Permual Temple, Kannadasan Mandapam, Kamban Manimandapam, Chettinad Raja Palace and Thousand windows house are the visitor attractions in Karaikudi
The Indian Bank was founded on 15th August,1907. Fourteen top banks were nationalized by the Indian Government on 19th July,1969, including Indian Bank. As a result of the nationalization, the branches of nationalized Indian banks in Malaysia were forbidden to continue operations as parent branches. At that time, Indian Bank had three offices. In 1973, the three branches merged to establish United Asian Bank Berhad and take over their Malaysian operations. After the nationalization, Indian Bank was left with only two foreign offices, one in Colombo and the other in Singapore. The International expansion resumed in 1978 with Indian Bank becoming a technical adviser to PT Bank Rama in Indonesia. Two years later, Indian Bank, BOB, and UBI established Indian Union Bank International Finance, in Hong Kong. The three banks had an equal share in the joint venture; the Indian Banks Chairman became the first Chairman of IUB International Finance. In May 1980, the Indian Bank also opened a foreign currency unit at its branch in Colombo. In 1981, the Indian Bank set up its first Regional Rural Bank, in Chittoor.