Nanded is the 8th largest city in the state and the second largest in the Marathwada subdivision of the Indian state of Maharashtra. It is a major destination Sikh pilgrims as the city was the permanent abode of the 10th Sikh Guru - Guru Gobind Singh, who passed away in the city in 1708. Nanded is closer to Hyderabad than to the Maharashtra state capital Mumbai. The city of Nanded is divided into two distinct parts by the Godavari - the old Nanded on its north bank and the new city in the south. Nanded is known for the agricultural trade of cotton, mangos, soya beans, bananas, sugarcane, sweet limes, and sorghum that are cultivated in and around the city. The city has an agricultural school and a cotton research center dedicated to assist the cotton production industry. The tourism industry also fuels the citys economy. 10 million visitors and religious pilgrims boost the tourism industry of the city.
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.