Madanapalle is located in the Chittoor district of Andhra Pradesh. The town functions as the headquarter of the Madanapalle revenue division and mandal. The town was founded by Sri Ahobila Nayunivaru in 1618 AD. The economy of Madanapalle is based on agriculture. The main cultivated products are tomato, mango, groundnut, tamarind, etc. It is the largest tomato market in Asia. The tomatoes from this area are supplied to many Indian states. Madanapalle is known for its silk products like silk saris and dress materials. One can get good quality silk products at nominal costs. These silk garments are supplied to all major cities in South India such as Bangalore, Chennai and all silk product towns for sales. Madanapalle surroundings have enormous reserves of granite. Madanapalle is well connected to all nearby areas via road and rail. Three Bus terminals provide services in Madanapalle. Madanapalle Road Railway Station connects the town to the nearby cities of Guntakal and Secunderabad.
Vaman Kudva, T M A Pai, Upendra Pai worked together to set up the Syndicate bank in 1925. As time passed, 20 banks joined with the Syndicate Bank Limited along with Southern India Apex Bank Limited and Maharashtra Apex Bank Limited. In 1964, the name of the bank was changed to Syndicate Bank Limited, and the corporate office was moved to Manipal. The bank extended its business not only on the national land but overseas too. It opened a branch in London and managed to incorporate Musandam Exchange Co. in Muscat and National Exchange Co. in Doha. At Hauz Khas, Delhi, it had opened its 1000th office in 1978. The bank has more than 3500 branches currently, and all offices are providing core banking-e-banking services under anywhere-anytime-anyhow banking mission. It has been conferred "Best Bank Award" by Sri Jairam Ramesh, Honble Minister for Rural Development, Government of India In the RSETI movement. The Bank had also been awarded by State forum of Bankers Club, Kerala, "Banking Excellence Award 2013" for being the second best public Bank in overall performance. During Synd LIC Saptah (2 to 7 December 2013), the Bank has been awarded for Record-Breaking Performance by marketing 15119 policies, during a week by Life Insurance Corporation of India.