The Indian city of Bhavnagar is situated in the western state of Gujarat. It is often called ?Bhavena? by the residents. The city serves as the administrative headquarters of Bhavnagar District which was established by and named after Bhavsinhji Gohil. Bhavnagar city was the former capital of the Bhavnagar princely state, which was later merged into India in 1948. The city is a gateway to the Saurashtra region of Gujarat. It has some of the holiest temples of the Jain religion. The economy of this city is primarily industrial in nature. There are a large number of medium and small-scale industries based in the city. Diamond cutting and polishing units, plastics, salt and marine chemicals, shipbuilding and ship-breaking industries are widely popular in the Bhavnagar area. Besides the industrial units, the citys economy also benefits from agriculture. Groundnut, onion, cotton, bajra, guavas and pomegranate and mango are cultivated and traded. The city is known for its version of the traditional Gujarati snack Ganthiya. There are many government-run as well as private educational institutions in this city. Moreover, Bhavnagar attracts quite a lot of religious pilgrims since it is close to the Palitana Jain Temples. Other places like Blackbuck National Park, Takhteshwar Temple, Khodiyar Mandir, Victoria Park, Nilambag Palace Hotel, etc. also attract many tourists.
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.