Kakinada, a city in the Indian state of Andhra Pradesh, was formerly known as Cocanada. It is one of the largest cities in AP and serves as the district headquarters of the East Godavari district. It was initially known as Kakinandivada village, which was eventually a Dutch settlement. They used export sarees that were called coca or koka in Telugu. Hence, the place was named Cocanada. The name was finally changed to Kakinada after Independence. This city is one of the fastest growing cities in Andhra Pradesh and is currently being developed into a smart city as per PM Narendra Modis smart Cities Mission. Kakinada Port has a natural harbor at Hope Island, which contains two ports - an anchorage port and a deep-water port. The economy of Kakinada primarily depends upon agriculture, fishing and industrial sectors. Paddy and coconut are heavily cultivated in the city. The industrial sector covers the manufacture of refined edible oil, fertilizers and natural gas. The local economy is additionally supported by its textile industry and manufacture of auto parts, steel-related ancillary units and fishing. Kakinada is globally famous for its sweet called kaaja. This Tier-II city got its first IT Park in 2007 and many software companies have opened offices in the city, providing job opportunities to the local youths.
The Dhanlaxmi Bank was founded in 1927. In 1975, the first branch of the bank was opened outside Kerela. The bank was designated as a scheduled commercial bank by the RBI in 1977. In 1980, the bank had a secure network of 100 branches. In the year 2000, the Dhanlaxmi bank installed its first ATM. In the year 2002, the bank has celebrated its platinum jubilee year. In the year 2009, it 45 new branches and 102 new ATMs.In 2011, the bank launched the IMPS or Immediate Payment System to enable its customers for quick fund transfer. The bank has initiated missed call services via phone banking to help its customers in the year 2014. The Dhanlaxmi bank introduced three new bank saving products namely Dhanam Vanitha, Dhanam Yuvak and Dhanam Genius Account in the same year. The Bank has achieved High Rating from BCSBI in the BCSBI Compliance rating in 2015 along with which it has also launched Dhan Smart app for the convenience of its customers. In the retail banking system, the IMPS was introduced by the bank in 2016, followed which the bank launched Bharat Bill Payment System in 2017. As a financial inclusion initiative, the bank issued Kisan Credit Cards to 186 farmers as of 31st March,2018.