Being the third largest city in Tamil Nadu, Madurai is located on the banks of River Vaigai. It is known for its vibrant and rich cultural heritage. It is a seat of education for the Tamil language and famous for its aesthetic art and literature. Madurai has been held in high esteem by many scholars and it is referred to as the "City of Temples and Poets." The history of Madurai dates back to 3rd century BCE, with proof of its vintage through archaeological surveys. The famous Meenakshi Amman Temple in Madurai draws many devotees and tourists to the city throughout the year. Tourists from all over the country, especially its southern state, visit Madurai to explore its many temples as well as popular tourist spots like the Thirumalai Nayak Palace, Gandhi Memorial Museum, Rajaji Children?s Park, etc. The modern city of Madurai is divided into 100 wards, each of which is administered by an elected member. The city has a large farming community involved in the cultivation of crops like paddy, jasmine, rubber, etc. These drive the economy and trade in the city apart from a few modern industries such as the manufacture of tires, auto components, granite, textile and chemicals. Madurai serves as the base for a few popular two-wheeler manufacturers in India. Many software companies have recently opened their offices in the city and Madurai has been promoted to a Tier-II city. With pristine universities and colleges like the Madurai Kamaraj University, Madura College, Thiagarajar College, American College, Madurai Law College etc. the city is regarded as an academic center for the state of Tamil Nadu.
The Vijaya Bank was founded by a group of farmers under the leadership of A. B. Shetty on 23 October 1931, in Mangaluru, Dakshina Kannada District of Karnataka State. It was named Vijaya Bank since it was found on the auspicious Vijayadashami Day. During the economic chaos created out of the Great Depression of 192730, Shetty approached some eminent personalities to start a bank with the aim of providing credit facilities at a lower rate of interest to the farmers for cultivating their lands and preventing them from falling in the grasp of money lenders. On 23 October 1931, Mr.Shetty involved 14 leaders and established Vijaya Bank. The bank had an authorized capital of ?Five lakh and an issued capital of ?Two lakh in the beginning. Being a retail bank, its topline growth has come from the retail segments. Retail advances of the bank constitute 30% of the gross credit. The Bank has been actively working with the agenda of financial inclusion. The bank has been started with the objective of financial empowerment and providing banking services to the rural masses. The Vijaya bank has also opened Basic Savings Bank Accounts under Pradhan Mantri Jan Dhan Yojana and provided Rupay debit cards to all the account holders. The bank participated in promoting social security schemes such as Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana, and Atal Pension Yojana.