Mangalore has been recently renamed as Mangaluru. It is a well-known port town in the Indian state of Karnataka. The city serves as the administrative headquarters of the Canara region of Karnataka. It is well known for its splendid beaches as well as a relaxed lifestyle. The Mangalore port fuels the development of the city, making it strategically the most important city on the Malabar coast. Mangalore, being one of the most cosmopolitan towns in the region, has a diverse population. The city lies on the estuary of the Netravati river and thus has a very fertile soil which supports the cultivation of coffee and cashews. Exports, commerce and petrochemicals drive the economy of the city. The IT industry is gradually gaining prominence in Mangalore as companies like Infosys, Cognizant, Mphasis have recently opened their offices in the city. Mangalore has large petrochemical companies like MRPL, MCF, ELF. Mangalore along with the adjoining city of Manipal combine to form a hub for education. Institutes like NIT Ranchihkal, Kasturba Medical College, Manipal University, Mangalore University, etc. attract students from all over the country. Mangalore boasts of its natural beauty and tourists flock to the city to relish the pleasant aura of the Tannirbhavi beach, the Panambur beach, St. Marys island, Kudroli Gokarnath Temple, Kadri Manjunath temple, Sammilan Shettys butterfly park, Rosario Cathedral, etc.
The Karnataka Bank Limited is commercial banking institution having a network of 807 branches, 1374 ATMs across 22 states and two union territories having 8,220 employees and over 9.65 million customers throughout the country. Over 1,46,000 shareholders privately own its shares and the tagline of the bank is "Your Family Bank Across India."In August 2008, Sun and NDTV Green IT Award were received by Karnataka Bank Limited in recognition of the banks "green policies" and use of earth-friendly technology such as solar power. For the year 2010-11, the bank received the Best Bank Award for "Managing IT Risk" under small bank category, by Institute for Development and Research in Banking Technology (IDRBT). The Karnataka Bank Limited was incorporated on 18 February 1924 and operations were commenced on 23 May 1924. Quick Remit, a facility of money transfer was introduced by the Karnataka Bank Limited in August 2008 for Non-Resident Indians living in Canada, United States, and the UK. The bank also runs a 24-hour Internet banking service called Money click. Some of the digital banking products of Karnataka Bank Ltd are KBL-ApnaApp, KBL-m PassBook, KBL Smartz and KBL POS Manager.