Vadodara is more popularly known by its earlier name Baroda. It is an important city in Gujarat. Vadodara stands third among the largest cities in Gujarat, closely following Ahmedabad and Surat. It is known for its rich cultural heritage, and hence the city has earned the name of the ?Sanskrit Nagar? or the ?Kala Nagari? (City of Arts). After the Mughals were expelled by the Marathas from Gujarat, their local lieutenants known as the Gaekwad clan settled down in Vadodara. The descendants of the royal family still remain in this city in the famous Lakshmi Vilas Palace. Fertilizers, medicines, compounds, fisheries, dairy, fiber weaves and machine gears contribute to this citys economy. Crops like rice, wheat, grams, sugarcane, yellow peas and yarn are harvested in Vadodara. The city is located on the banks of the Vishwamitri river. Vadodara experiences a semi-arid climate, with dry summers and winters and humid monsoon days. Many large-scale and heavy industries can be found in this city. Units of Indian Oil Corporation (IOCL), Indian Petrochemicals Corporation Limited (IPCL), Gujarat State Fertilizers & Chemicals (GSFC), Oil and Natural Gas Corporation (or ONGC), Gujarat Alkalis and Chemicals Limited (GACL) and Gas Authority of India Limited (GAIL) are to be found in and around the city. There are numerous educational institutions in Vadodara including the largest university in Gujarat - Maharaja Sayajirao University of Baroda.
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.