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 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.