Kakinada, a city in the Indian state of Andhra Pradesh, was formerly known as Cocanada. It is one of the largest cities in AP and serves as the district headquarters of the East Godavari district. It was initially known as Kakinandivada village, which was eventually a Dutch settlement. They used export sarees that were called coca or koka in Telugu. Hence, the place was named Cocanada. The name was finally changed to Kakinada after Independence. This city is one of the fastest growing cities in Andhra Pradesh and is currently being developed into a smart city as per PM Narendra Modis smart Cities Mission. Kakinada Port has a natural harbor at Hope Island, which contains two ports - an anchorage port and a deep-water port. The economy of Kakinada primarily depends upon agriculture, fishing and industrial sectors. Paddy and coconut are heavily cultivated in the city. The industrial sector covers the manufacture of refined edible oil, fertilizers and natural gas. The local economy is additionally supported by its textile industry and manufacture of auto parts, steel-related ancillary units and fishing. Kakinada is globally famous for its sweet called kaaja. This Tier-II city got its first IT Park in 2007 and many software companies have opened offices in the city, providing job opportunities to the local youths.
IndusInd Bank was founded in 1994 under the chairmanship of Srichand P Hinduja, head of the Hinduja group and a famous NRI. The head office of IndusInd Bank is in Mumbai and offers a wide range of financial products and services. The bank began with a capital amount of Rs.1 billion out of which Rs. 600 million had been raised by the Indian residents and rest of the amount by NRIs.Among the new-generation private banks, IndusInd Bank is the first in India. The bank has its specialization in retail banking, and it keeps on upgrading its support systems through new technologies. It is also expanding its branches all across the country along with the global spread. In 2008-09, the bank tied up with BONY Mellon for online remittances from the US to India. It has received the prestigious ISO 27001 certification for IT operations in 2009-10. It was ranked second in the fastest growing bank category published in the report by the business world and PWC. In 2016, it was featured on Forbes among 50 super companies in India. Mr. Romesh Sobti, the MD, and Chairman won the best CEO award in the year 2018.