Navi Mumbai is a planned township in the Indian state of Maharashtra. It is a beautiful and well-organized city located in the Thane district towards the north-east of Mumbai. Navi Mumbai was originally planned in 1971 with an aim to decongest the great city of Mumbai. This new township is a fast developing residential and commercial area that offers all modern infrastructure and amenities. A considerable amount of commercial activities are being gradually shifted from Mumbai to this new township. Navi Mumbai flouts its organized roads that offer excellent connectivity. A new international airport at Navi Mumbai is currently under construction. Navi Mumbai is also famous for its many shopping malls and upcoming residential complexes. Most of the software companies that are operational in Maharashtra have opened their offices in Navi Mumbai. The government of Maharashtra has taken initiatives to set up IT parks at Navi Mumbai to cater to the growing demand or this rapidly growing city. It also helps declutter Mumbai and takes considerable pressure off it. Various educational institutions have come up in Navi Mumbai, offering courses in a variety of streams including engineering, medical sciences, hotel management, interior designing, etc. This young city has already become an active business hub since most of the MNCs based in Mumbai have set up their offices in this new city. Along with plenty of employment opportunities, this city offers entertainment and recreational facilities to ensure a comfortable life for the residents.
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.