Adoni is located in the Kurnool district of Andhra Pradesh. The municipality of Adoni also functions as the headquarter of the Adoni Mandal and the Adoni Revenue Division. Adoni has a population of more than 1.5 lakh residents, who speak in Telugu. Adoni was a fort town of the famous Vijayanagara Empire during the 15th to 16th centuries. After the decline of this glorious empire, Adoni went into the hands of Ali Adil Shah I of the Bijapur Sultanate. The Mohammedan rulers soon captured the area within a few years. The area was tossed to the hands of the Nizams and the Marathas and finally went to the British. In the late 19th century, Adoni faced a severe El Nino famine which claimed nearly one-third of its population. Adoni became a part of Andhra Pradesh in 1953. Adoni is a huge producer of cotton. The city has a thriving ginning and textile industry. Groundnut oil is another major production of Adoni. This city is also an important trading center in the state, with a large market situated in the center of the town. Adoni is often referred to as the second "Bombay" of India for its businesses and also for its cotton exports.
The Andhra Bank had been nationalized in April 1980. It narrowly escaped nationalization in 1969, when all the banks were having deposits of 50 crores and above were nationalized. It was the number one bank among private sector banks from 1969 to 1980. In 1980, more banks with deposits of 200 crores were nationalized. Andhra Bank has its head office in Hyderabad, Telangana, India. C V R Rajendran, chairman and managing director of Andhra Bank was appointed by the finance ministry, earlier worked as executive director at Bank of Maharashtra. The Andhra Bank was the prominent bank in introducing credit cards in India. Also, it is the first bank to issue travelers cheques in Foreign Currency and to launch insurance linked deposit schemes. Though it used to have most of its branches in Andhra earlier, now it has spread itself all across the country. Bhogaraju Pattabhi Sitaramayya founded Andhra Bank in 1923 in Machlipatnam, Andhra Pradesh. Two of Indias public sector banks ? Bank of Baroda (44%) and Andhra Bank (30%), and UKs financial and investment company (26%) established IndiaFirst Life Insurance Company as a joint venture in November 2009.