Avadi is a residential city near Chennai in the Indian state of Tamil Nadu. It is considered to be a Special Grade Municipality of the Chennai Metropolitan Area which is soon to receive an upgrade to a Corporation. It is a developed area with around 3.5 lakh population. It is believed that the citys name is an acronym for Armoured Vehicles and Ammunition Depot of India. The lies on the banks of the huge and thriving Avadi Lake. The water from the lake is often utilized for the cultivation of farmlands and it also attracts several birds during various seasons. This advanced city has a renowned waste management system which converts solid household wastes into compost and manure. Avadis government establishment mainly drives its economy. The major military divisions in the vicinity of Avadi are the Indian Army, Indian Air Force, Indian Navy, Heavy Vehicles Factory, Combat Vehicles Research and Development Establishment, CRPF, The Ordnance Depot, Central Vehicle Depot, etc. The city is known for its plenty of Hindu temples.
The Andhra Bank had been nationalized in April 1980. It narrowly escaped nationalization in 1969, when all the banks were having deposits of 50 crores and above were nationalized. It was the number one bank among private sector banks from 1969 to 1980. In 1980, more banks with deposits of 200 crores were nationalized. Andhra Bank has its head office in Hyderabad, Telangana, India. C V R Rajendran, chairman and managing director of Andhra Bank was appointed by the finance ministry, earlier worked as executive director at Bank of Maharashtra. The Andhra Bank was the prominent bank in introducing credit cards in India. Also, it is the first bank to issue travelers cheques in Foreign Currency and to launch insurance linked deposit schemes. Though it used to have most of its branches in Andhra earlier, now it has spread itself all across the country. Bhogaraju Pattabhi Sitaramayya founded Andhra Bank in 1923 in Machlipatnam, Andhra Pradesh. Two of Indias public sector banks ? Bank of Baroda (44%) and Andhra Bank (30%), and UKs financial and investment company (26%) established IndiaFirst Life Insurance Company as a joint venture in November 2009.