The city of Machilipatnam in the Krishna district of Andhra Pradesh functions as a municipal corporation, as well as the administrative, headquarter of its district. The city is also known as Masulipatnam and Bandar. It is an ancient port town which served as the settlement of the European traders in the 16th century. The British, Dutch and French used it as a major trading port in the 17th century. Machilipatnam experiences a tropical savanna climate with hot and humid summers and moderate winters. The city gets torrential rainfall during July, August and September. Owing to its vicinity to the Bay of Bengal, Machilipatnam is frequently hit by cyclones originating in the sea. The Machilipatnam Municipal Corporation is the civic body responsible for the governance of the city. This seaside city is known for its handloom industry, specializing in Kalamkari textiles that are exported to the United States and other Asian countries. Building boats and fishing are the other notable industries. Machilipatnam used to be a trading base for the Europeans and was known for the minting of copper coins, exporting diamonds and textiles. The AP state government is trying to revive the glory of the former port city. The Machilipatnam Area Development Authority is planning to set up a deep seaport and its associated industrial corridor at Machilipatnam which is expected to employ over 25,000 people.
On 25 July 1916, The Karur Vysya Bank Limited, popularly known as KVB was founded to capitalize the unexplored market of traders and agriculturists in and around Karur, a town in Tamil Nadu. Though the bank initiated with a seed capital of ?1 lakh, unlike many other banks, the seed capital has grown, as the services were sold. The bank is controlled and supervised by the Board of Directors gathered from different streams. The bank spread its approach out of Karur town of Tamil Nadu and established approximately six hundred and sixty eight branches in other States and Union Territories to gain a pan-India presence realizing that there is more money elsewhere. On 27 January 2012, Shri K.K. Balu was appointed as an Additional Director of the Bank. The total business volume was 1,00,000+ crore, as of Dec 2017. As on 1 July 2018, the bank had increased branches and ATMs during the year thus accounting the total number to 798 branches and 1,780 plus ATMs. It provides services such as personal, agricultural banking, corporate, and services to NRIs and MSME. The bank offers housing loan, personal loan, insurance, and fixed deposits among others under private banking.