Ulhasnagar is a small and developing city located in the Thane district of the Konkan division in the Indian state of Maharashtra. It is about 55 km from away from Mumbai but is included in the Mumbai Metropolitan Region. The town city an area of approximately 13 square kilometers which is divided into 285 blocks. It is a hub for the production of rayon silk, ready-made garments, dyes, confectionaries and electrical & electronic appliances, which contribute to the citys economy. Ulhasnagar is considered to be one of the largest manufacturers and exporters of denim jeans. The city has around five lakh residents. There are 129 primary schools, 56 Secondary Schools, nine Higher Secondary schools, three colleges and two Technical Colleges in Ulhasnagar. There are many public libraries, sports grounds and movie theatres to provide entertainment facility to the residents.
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.