Nagercoil is located in the Indian state of Tamil Nadu. It functions as the administrative headquarters of Kanyakumari. Nagercoil is situated very close to the tip of the Indian peninsula. It is surrounded by the Western Ghats on all sides. Earlier, it was a part of the Travancore state for a brief period soon after the Indian independence. It was merged with Tamil Nadu in 1956. The city has a Temple of the Nagas which is known as the Nagaraja Temple. The city has acquired its name from this temple. The Fish-net manufacturing is a thriving business in and around the town. Commercial fishing nets are manufactured and supplied to the domestic and export markets. Other cottage industries such as coir-making, handloom-weaving, floral trade, rubber products, food-processing units and lace-making also contribute to the citys economy as they are manufactured for trade. There are many reputed educational institutions in this city. A few interesting places worth visiting in and around this city are the Nagaraja Temple, Nagercoil Clock Tower, St. Xaviers Church, etc.
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.