Bhimavaram is situated in the West Godavari district of the Indian state of Andhra Pradesh. The administrative headquarter of the Bhimavaram Mandal in the Narasapuram revenue division is situated at Bhimavaram. The city has around 1.5 lakh residents who speak in Telugu. Bhimavaram was under the reign of the Chola dynasty, proven by many stone inscriptions found in the town from this era. The name Bhimavaram literally translates to "the gift of Bhima". Legend says that a king named Chalukya Bheema had built a Siva temple in the 1st century which led to the foundation of this town. It was earlier called "Bhimapuram", which gradually changed to "Bhimavaram." This town is in the epicenter of the fertile Godavari delta region, which makes it a principal trade center of paddy. Agriculture-based businesses thrive in the area. Food processing, aquaculture, rice mills, etc., are the main sources of economic growth of the town. Bhimavaram is the regional center for higher education as well as specialized health services. Bhimavaram is recognized for the Gunupudi Someswara temple. Built during the 3rd century AD, this temple is one of the five holy Pancharamas. The Shiva lingam idol in this temple is known for changing its color. As per the lunar calendar, it turns black during the new moon and white during the full moon. It is a place of major tourist attraction.
In 1926, seven businessmen of Karur founded Lakshmi Vilas Bank under the leadership of Shri V.S.N. Ramalinga Chettiar. They aimed to serve the financial needs of people who were occupied in trading businesses, industry and agriculture, in and around Karur. The bank was established on November 3, 1926, under the Indian Companies Act, 1913, and on November 10, 1926, it obtained the certificate to commence business. After the Banking Regulations Act was introduced in1949, the bank received its banking license from RBI and became a scheduled commercial bank? revealing its capability to operate as a full-fledged commercial bank. Lakshmi Vilas Bank did considerable expansion of its branch network from 1961 to 1965, when the bank took over nine other banks. The bank started the development of its branch network beyond Tamil Nadu in 1974 to take benefit from the additional opportunities across India. Thus, offices were established in the neighboring states of Karnataka, Andhra Pradesh, and Kerala, critical financial centres like Kolkata, Mumbai and New Delhi, as well as in other prominent business centers in Madhya Pradesh, Maharashtra, and Gujarat.