Ramagundam is the most populous city in the Peddapalli district of the Indian state of Telangana. The city obtains its name from the combination of two words - Rama refers to the Hindu God, Lord Rama; Gundam means "water springs." Located on the banks of the Godavari, the city is often called the city of energy. The city hosts around 2.3 lakh residents who mostly speak in Telugu and are employed in the various industrial sectors present in the area. Roads, railway and a local airport ensure a great connectivity to this city. Ramagundam is situated in the Godavari valley coalfields. It has one of Indias largest thermal power stations owned by NTPC. Some of the industries that have flourished in the area are Fertilizer Corporation of India, Kesoram Cement, National Fertilizers Limited, TSGENCO thermal power station, Engineers India Limited, Kesoram (Birla) cement factories, etc. The NTPC plan at Ramagundam is undergoing dynamic upgrades which would help in earning carbon credits against the use of solar power as a renewable energy source. Additionally, an irrigation project called Sripada Yellampalli project, and the very first Solar Power Plant are being set up at Ramagundam
The City Union Bank was incorporated in the year 1904. In the year 1990, the bank has introduced computerization, and all the branches were computerized. The bank had an agreement with TCS for entering the Core Banking Solutions. The City Union Bank has installed ATMs at selected centers from where the users could check their account balance, withdraw cash and obtain account statements. The City Union Bank attained a license from the IRDA for selling insurance products and providing other value-added products. The bank entered into memorandum with LIC for selling insurance products. To function as a depository participant, the bank obtained the license under National Securities Depository Limited. The digital banking services of City Bank Union consists of Chatbot facility or Ask Lakhshmi, Passbook printing kiosk, Internet and mobile banking, CUB Virtual Credit Card facility and Cheque clearing kiosk. In 2016-17, it was awarded as the IRDBT Banking Technology Excellence Award of the year for cybersecurity and defense among the small banks.