Nanded is the 8th largest city in the state and the second largest in the Marathwada subdivision of the Indian state of Maharashtra. It is a major destination Sikh pilgrims as the city was the permanent abode of the 10th Sikh Guru - Guru Gobind Singh, who passed away in the city in 1708. Nanded is closer to Hyderabad than to the Maharashtra state capital Mumbai. The city of Nanded is divided into two distinct parts by the Godavari - the old Nanded on its north bank and the new city in the south. Nanded is known for the agricultural trade of cotton, mangos, soya beans, bananas, sugarcane, sweet limes, and sorghum that are cultivated in and around the city. The city has an agricultural school and a cotton research center dedicated to assist the cotton production industry. The tourism industry also fuels the citys economy. 10 million visitors and religious pilgrims boost the tourism industry of the city.
Under the Companies Act of 1913, South Indian Bank was registered as a Private Limited Company and started operations on 29th January 1929 at Round South, Thrissur. South Indian Bank Limited is based at Thrissur in Kerala, India. It has 852 branches, four service branches,56 extension counters, and 20 Regional Offices spread across the states and union territories of India. Under Financial Inclusion till date, the bank has covered more than 100 villages and 15 urban centers and opened more than ten exclusive FLC Centres in the bank premises, which spreads across the states of Kerala, Andhra Pradesh, Tamil Nadu, and Chhattisgarh. SIB has appointed direct Business Correspondents in the allocated rural areas under the supervision of a team of officers in the FIP Cell - Head Office. Recently "KIOSK Banking Model" is introduced by the bank as Financial Inclusion Initiative in collaboration with Akshaya e-centres in Kerala state through the software service provider - M/s Tata Consultancy services. The kiosk is a kind of banking model for people who are living in areas where banking facilities are not available so that they can avail necessary banking facilities from a nearby service center or Business Correspondent Office without visiting a regular bank branch. Basic banking needs of the public like the opening of an account, deposit and withdrawal of cash, etc. can be availed from these common service center/BC Office.