Narasaraopet is situated in the Guntur district of Andhra Pradesh. The municipal town functions as the headquarter of the Narasaraopet revenue division and the Narasaraopet Mandal. Narasaraopet has received its name from a wealthy landlord who earlier owned most of the surrounding areas, known as Narasa Rao. This town is the major commercial trading center in the Guntur district. it also has a lot of educational institutes. The town is surrounded by many engineering, dental, PG and pharmacy colleges. The town of Narasaraopet was built on flat land surrounded by hilly extensions of the Eastern Ghats. Narasaraopet experiences exceptionally hot summers and mild winters. Monsoon rains are concentrated in the months of July?September. The town is home to more than 1 lakh residents who mostly speak in Telugu. A major religious fair dedicated to Lord Shiva is held at Kotappakonda located near Narasaraopet and it is an attractive tourist destination.
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.