The large city of Shimoga in the Indian state of Karnataka functions as the district headquarters of Shimoga District. The city has been officially renamed shivamogga in 2014. It is located in the central part of Karnataka, on the banks of the Tunga River and serves as a gateway to the hilly regions of the Western Ghats. Shivamogga is popularly nicknamed as the "Gateway of Malnad." Shimoga experiences a tropical wet and dry climate and has a population of around 3.3 lakh. Shimoga is an important center for education with its wide variety of prestigious schools as well as colleges. Industries such as Malnad Alloys, Pearlite Industries, Vijay Technocrats, Perfect Alloys, Shanthala Sperocast, etc. are some foundries that manufacture castings which are supplied to other related industries in the country as well as exported. The city is surrounded by lush green paddy fields, chili plantations, areca nut and coconut groves which contributes to the economy of the city. An IT Park is being constructed at Shimoga, near the upcoming Shimoga airport.
RBL is a scheduled commercial bank, based in the Mumbai region of Maharashtra, India. It was founded in August 1943. The bank has a gross business size of around Rs. 0.64 million Cr. The RBL bank provides banking services categorized into five sectors: Retail Banking, Commercial Banking, Corporate & Institutional Banking, Agri & Development Banking and Financial Markets. Ratnakar Bank was a bank in Maharashtra with two of its branches in Kolhapur and Sangli in August 1943. In the Kolhapur-Sangli belt, it used to serve to the small and medium business merchants. In August 1959, the Bank was recognized as a "Scheduled Commercial Bank" under the Reserve Bank of India Act, 1934. RBL Bank was also known as NH4 Bank since most of its occupation was limited to the cities in the 1,235-km National Highway 4 that connected four of the ten most dense cities in India. In the 2010s, RBL Bank has allegedly raised Rs 4,000 Cr, from investors. In 2011, the Bank raised Rs. 700 Cr, Rs 376 Cr, in 2014 Rs. 328 Cr. and in 2016 Rs.488 Cr. RBL Bank raised Rs 330 Crores from the UK-based development finance institution, CDC Group Plc (CDC), through Basel III compliant Tier II capital, in September 2016. In July 2017, RBL Bank got the board approval to raise Rs 1680 Cr.