Panchkula is a well-planned city located in the Indian state of Haryana. It lies adjacent to the union territory of Chandigarh and Mohali. Panchkula is a part of Greater Chandigarh which is also called the Chandigarh capital region. The Chandigarh-Mohali-Panchkula metropolitan area together forms a Chandigarh Tricity, which has a combined population of over 2 million. Panchkula alone has an approximate population of more than 5.5 lakh people. Panchkula hosts the Chandimandir Cantonment, the headquarters of the Indian Armys Western Command. The word "Panchkula" is derived from the words panch which means five in Sanskrit and kula which is the Sanskrit word for canals. Therefore the name of the city possibly refers to the five irrigation canals which distribute water to several parts of the city from the Ghaggar-Hakra River. The IT Park at Panchkula is a state of art infrastructure that aims to facilitate information technology in the city. The IT Park is spread over a vast expanse of 74 acres of land and is situates on the foothills of Shivalik Hills. It provides employment opportunities to the residents as well as migrants from other parts of the country. Tourism is another great source of economic growth. The places in and around Panchkula that are worth visiting are Pinjore Gardens, National Cactus and Succulent Botanical Garden and Research Centre, Kaushalya Dam, Khol Hi-Raitan Wildlife Sanctuary, Bir Shikargah Wildlife Sanctuary, and several temples.
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.