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Low interest rate instant Personal Loan in Vijayawada,17 July 2019 from IDBI Bank

Vijayawada, known as Bezawada in the local language, is located on the banks of Krishna river in the Indian state of Andhra Pradesh. Vijayawada is the 2nd most populous city in the state and it will soon become one of the satellite cities to the new state capital. The city works as a gateway to the rest of the country for the coastal agrarian regions of Andhra Pradesh. It also boasts of a high GDP. Vijayawada is surrounded by River Krishna which contributes to the fertile agricultural soil. Prakasham Barrage is one of the most recognizable and well-known landmarks of the city. The latest administration of the city is carried out by dividing the city into 59 wards. The economy in the city depends on agriculture along with other modern industries such as textile, automobile, hardware, consumer goods and other SMEs. There are a few large industrial estates located in and around the city which are known for heavy industries and the small-scale manufacture of auto components. Vijayawada is a major hub for education. There are many government-run and private academic institutions in the city like the SRR & CVR Government College, Andhra Loyola College, V R Siddhartha Engineering College, School of Planning and Architecture.

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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.

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