Ujjain is situated in the central Indian state of Madhya Pradesh. It is the administrative headquarters of the Ujjain district and is also known as ?The city of Temples.? It lies on the banks of the eastern river Kshipra. In antiquity, Ujjain was an important center of learning and power in the country. It was ruled by different dynasties and was a pre-eminent seat of power for the most powerful rulers in central India. The city is divided into 54 wards that help in its proper civic governance. Manufacturing and textile industries along with agricultural yields like soybean, wheat, jowar and bajra form the backbone of the citys economy. It has a lengthy history of being a center for learning and that has further developed in recent times through prestigious institutions like Vikram University, Pt. Jawaharlal Nehru Institute of Business Management, Maharshi Panini Sanskrit University, Mahakal Institute of Technology, Ruxmaniben Deepchand Gardi Medical College, Ujjain Engineering College, etc. Ujjain is a city of temples. It holds an important place in the Hindu pilgrim trails in India. Its temples and monuments like Mahakaleshwar Jyotirlinga, Shri Mahakaleshwar Temple, Vikram Kirti Mandir, Bade Ganeshji Ka Mandir, Ram Ghat, Gadkalika Temple, Sandipani Ashram, Iskon temple are well respected and must-visit destinations for Hindu devotees.
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.