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Holiday Loan from IDBI Bank in Kavali

Kavali is situated in the Nellore district of Andhra Pradesh. It is a major municipal corporation in Andhra Pradesh and also the second largest city in the Nellore district. The city has around 1 lakh residents who mostly speak in Telugu. The name of this city was coined by Potuluri Veerabrahmendra Swami. It means patrol in the local language. This is because the Udayagiri king, Harihara Rayulu, had stationed his army at this town in 1515. Kavali is often referred to by the name "Kanakapatnam" which means "wealth will flow into this place." Kavali is a seaside town, located 8 kilometers away from the Bay of Bengal coastline. The National Highway 16 and the Kavali railway station on the Howrah-Chennai main line ensures a great connectivity to this city. Apart from the government-run and private educational institutions, the Visvodaya group has set up many schools and colleges at Kavali. This scenic city provides a pleasant environment to live in, away from the busy city life and traffic.

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Low interest rate Home Loan in Kavali, 19 April 2019 from IDBI Bank

IDBI Bank was established to provide credit and other financial facilities for the development of the fledgling Indian industry, in 1964. The Government of India owns it. It is a nationalized bank treated on par with State Bank of India (SBI) and other nationalized banks as per the notification dated 26th February 2013 by the finance ministry. At present,77% stake in IDBI Bank is holding by the government. In the current fiscal of 2017-18, the bank made a loss of Rs.853 crore compared to a profit of Rs.241 crore earned during the last fiscal year. It currently has 3,817 ATMs, 1,995 branches, including one overseas office in Dubai. On June 29, 2018, Life Insurance Corporation of India (LIC) has got a technical go-ahead from IRDAI to increase stake in IDBI Bank up to 51%. The RBI formed a committee which recommended the development financial institution (IDBI) to diversify its activity and harmonize the role of development financing and banking activities by getting away from the conventional distinction between commercial banking and developmental banking. The bank had 16,555 employees, out of which 197 were employees with disabilities, as on 31st March.

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