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 Shamrao Vithal Co-op. Bank Ltd. or SVC Cooperative Bank Limited, is a banking company incorporated under the Companies Act, 1956 a scheduled bank, and one of the oldest Urban Co-operative Bank in India built in 1906. The bank was set up when co-operation was just started in the country. It was established with the primary aim of helping the less fortunate members of the community under the ambit of its economic enterprises. It was also to encourage savings and to create funds for providing financial aid to deserving members.Mr. Rao Bahadur Shripad Subbarao Talmaki was the chief architect of the Bank. The Bank was initially registered as a Co-operative Credit Society on 27 December 1906. The Bank is present in 10 States of India. Maharashtra, Karnataka, Tamil Nadu, Telangana, Delhi, Rajasthan, Haryana, Goa, Gujarat and Madhya Pradesh. In 1907, cumulative deposit scheme, fixed deposit scheme and saving bank deposit were introduced by the bank. After that in 1911, the facilities for remittance were made available to the members by the draft. In 1913, the cash credit scheme was introduced by the bank. In 1956, facilities were thrown open to all communities. In 1988, the Shamrao Vithal bank was conferred the scheduled bank status.