srikakulam is the district headquarter of the eponymous district in Andhra Pradesh. This municipal corporation functions as the headquarter of the Srikakulam revenue division as well as the Srikakulam Mandal. Srikakulam is believed to have been founded by Balarama. It was earlier known as Chicacole before the Indian independence. The city has nearly 1.5 lakh residents and Telugu is the most commonly used language in the area. The city has ample government schools to impart primary and secondary school education. The city has quite a few aided and private schools and colleges. The city has very good connectivity in terms of roads and railway. The city is known for the Arasavalli Sun temple which is believed to be the abode of the Sun God. Legend says that the great sage Kasyapa had installed the idol in the temple. It is one of the two sun temples in India and attracts a lot of devotees.
The government owns 63.44% of the share capital of Union Bank of India making it one of the largest government-owned bank. As on 30 September 2015, the Union Bank had a network of 6909 ATMs. The online telebanking facility of UBI is available to all the Core Banking Customers, either individual or corporate. UBI had 4214 branches, as of September 2016. Out of them, four bank branches are outside India in Hong Kong, Antwerp, and Sydney (Australia) Dubai International Financial Centre. The representative offices of UBI are at Abu Dhabi, Shanghai, Beijing. The Union Bank of India (Union Bank) was registered as a limited company in Mumbai on 11 November 1919, and Mahatma Gandhi inaugrated it. The Union Bank of India had only four branches - three in Mumbai and one in Saurashtra at the time of Independence in 1947. After Independence, the growth of UBI was accelerated, and the Indian Government nationalized it in 1969. It had 240 branches by that time. The Union Bank of India acquired Belgaum Bank shortly after nationalization. The UBI bought the Miraj State Bank in 1985. In 1999 the Union Bank was requested by the RBI to acquire Sikkim Bank in a rescue after extensive irregularities had been discovered at the non-scheduled bank.