Kurnool, also known as the "Gateway of Rayalaseema," lies on the bank of River Thungabhadra in the Indian state of Andhra Pradesh. The city had once been the capital of the state of Andhra Pradesh in the 1950s for three years. The Kurnool city serves as the headquarters of the Kurnool District. The rulers of various dynasties such as the Cholas, the Kakatiyas, the Nawabs and the Mughals have ruled over the city and given it a rich cultural heritage. The modern administration of the city is conducted by dividing it into 50 wards managed by elected representatives. The main economic activity in the city is fuelled by its industries such as mining and agriculture. The city is based has rich resources of various minerals like Iron, Ochre, Quartz, Dolomite, Limestone and Silica. Kurnool serves as an educational hub with institutions and universities like Rayalaseema University, Kurnool Medical College, G Pulla Reddy College of Engineering & Technology, Indian Institute of Information Technology (IIIT) Kurnool, Osmania College, etc. Kurnool draws a lot of tourists each year city and is well known for its excellent tourist destinations like the Belum Caves, Gandikota, Mantralayam, Yaganti Temple, Mahanandi Temple, Kurnool Fort, Kondareddy Burz, Rollapadu Wildlife Sanctuary, etc.
The Shamrao Vithal Co-op. Bank Ltd. or SVC Cooperative Bank Limited, is a banking company incorporated under the Companies Act, 1956 a scheduled bank, and one of the oldest Urban Co-operative Bank in India built in 1906. The bank was set up when co-operation was just started in the country. It was established with the primary aim of helping the less fortunate members of the community under the ambit of its economic enterprises. It was also to encourage savings and to create funds for providing financial aid to deserving members.Mr. Rao Bahadur Shripad Subbarao Talmaki was the chief architect of the Bank. The Bank was initially registered as a Co-operative Credit Society on 27 December 1906. The Bank is present in 10 States of India. Maharashtra, Karnataka, Tamil Nadu, Telangana, Delhi, Rajasthan, Haryana, Goa, Gujarat and Madhya Pradesh. In 1907, cumulative deposit scheme, fixed deposit scheme and saving bank deposit were introduced by the bank. After that in 1911, the facilities for remittance were made available to the members by the draft. In 1913, the cash credit scheme was introduced by the bank. In 1956, facilities were thrown open to all communities. In 1988, the Shamrao Vithal bank was conferred the scheduled bank status.