Kollam, formerly known as Desinganadu, is an old seaport and a thriving city in the Indian state of Kerala. It is a port city along the Laccadive Sea coast. Mar Sabor, an East Syriac bishop, had founded the Kollam Port. The city is situated on the banks of the Ashtamudi Lake. In ancient times, Kollam had a strong commercial relationship with the Chinese. Kollam city ranks 5th in the country and 3rd in Kerala in terms of per capita income and economic performance. The port city has an excellent export background. Fishing and dairy farming largely contribute to the citys economy. The government is about to establish a fishing harbor in the vicinity of the city in order to increase the fish production. Fisheries, hatcheries, turkey and poultry farms are also plentiful in the city. The city also has a rich mineral base. The sands on the beaches and the entire area has a good amount of heavy minerals such as Ilmenite, Monosite, Rutile and Zircon, which can be used for industrial purposes. There are limestone deposits and bauxite in and around the city. Kollam is often called the "Cashew Capital of the World", as the city is noted for its traditional cashew business. This city is a microcosm of Kerala and its residents are from various religious, ethnic and linguistic groups.
After the Banking Regulations Act was introduced in1949, the Laxmi Vilas Bank received its license from RBI and became a scheduled commercial bank? revealing its capability of operating as a full-fledged commercial bank. The Laxmi Vilas Bank is a private sector bank and was founded in 1926. It is based in Chennai, Tamil Nadu, India and did considerable expansion of its branch network from 1961 to 1965, when the bank took over nine other banks. In 1976, the bank obtained the status of Authorized Dealer in foreign exchange for providing services to the customers involved in international trade as well as to travelers who travel overseas. In 1977, the mechanization was introduced in the administrative office. The bank implemented core Banking Solution (CBS) in October 2006, and all of the banks branches were migrated to CBS by March 2008. Lakshmi Vilas Bank has 523 offices,984 ATM centers, and seven extension counters, as of 2018. Mr. Partha Sarthi Mukherjee is the MD and CEO of Lakshmi Vilas Bank. The bank was established on November 3, 1926, under the Indian Companies Act, 1913, and on November 10, 1926, it obtained the certificate to commence business.