The thriving city of Rajahmundry lies on the banks of the Godavari in the southern Indian state of Andhra Pradesh. Popularly known as ?The Cultural Capital of Andhra Pradesh,? the city serves as the administrative headquarters of the East Godavari district. Rajahmundry is a city of antiquity. It is one of the most important cities in the history of the state. Its roots can be traced back to 1100 AD. The city is reputed for shaping up the Telugu language as well as for its dynamic role in the Indian independence movement. Rajahmundry is the sixth largest in the state. Its modern civic administration is conducted through the organized division of the city into 93 wards. The cloth and bullion businesses mainly fuel the economy of the city. Rajahmundry acts as a business hub for east and west Godavari districts. The rich and fertile basin of the Godavari also contributes to agriculture. Paddy is the major crop cultivated. The city hosts a few notable educational institutions such as Adikavi Nannaya University, Telugu University, Godavari Institute of Engineering and Technology, GSKM Law College, G.M.R. Polytechnic College etc. The historic city is a hub for Telugu culture with plenty of tourist attractions such as the Godavari Rail Bridge, Sri Sri Radha Gopinath Temple, ISKCON, the Markandeya Temple, Sri Veerabhadra Swamy Temple, the Rallabandi Subbarao Government Museum, 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.