Davanagere is an emerging city in the Indian state of Karnataka. This city has been selected by PM Narendra Modi to be developed into a smart city under the ambitious flagship Smart Cities Mission. It is a cotton hub and has often been referred to as the Manchester of Karnataka. Currently, the city is commercially venturing into the fields of education and agro-processing industries. Located in the Maidan region on the Deccan Plateau, the city is often called the "Heart of Karnataka" as it is literally located in the center of the state. This city houses Asias 2nd largest irrigation tank known as "Shanti Sagar," which serves as a major water source for farmers in the region. There are roughly half a million residents in Devanagere who mostly speak in Kannada. The city is well connected to the rest of the state as well as the country through a decent network of roads and railway.
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.