Vizianagaram is a seaside city in the Indian state of Andhra Pradesh. It functions as the headquarters of the Vizianagaram district and mandal. The city is close to the Bay of Bengal and around 40 kilometers away from Visakhapatnam. Various rivers flow through the city such as Nagavali, Vegavathi, Champavathi, Gomukhi, Suvarnamukhi, and Gostani, rendering the area very fertile and conducive to agriculture. There are several irrigation projects on these rivers which indirectly contribute to the economy of the city. The city experiences a predominantly hot and humid climate throughout the year. Around 2.3 lakh residents live in Vizianagaram who mainly speak in Telugu. The city is known for its production of Jute. The coastal belt of Vizianagaram is known for salt cultivation. The largest industry in this area is the manufacture units of ferromanganese. The city has 22 large-scale industries that manufacture jute twine, ferroalloys, sponge, sugar, cement, pharmaceuticals and iron. Vizianagaram has quite a few small-scale industries that focus on general engineering, motor workshops, RCC spun pipes, sawmills, aluminum utensils, groundnut oil mills, rolling mills and vehicle parts.
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.