Ahmednagar is a city in the eponymous district in the Indian state of Maharashtra. Ahmednagar has been named after its founder Ahmad Nizam Shah I, who had founded the town in 1494 and established the Nizam Shahi Dynasty. The city still contains innumerable buildings from the Nizam Shahi period. The Ahmednagar Fort, which was famous in the British era as an impregnable building in which the imperial colonizers had housed Indian Nationalists like Jawaharlal Nehru before Indian independence, still stands proudly in the city as a museum. Pandit Nehru had written the famous book "The Discovery of India" during his confinement in this fort. The region is known for its sugar cultivation but often lapses into drought due to the lack of rainfall. The city serves as a strong military base as it houses the Indian Armoured Corps Centre & School, the Mechanised Infantry Regimental Centre, the Vehicle Research and Development Establishment and the Controllerate of Quality Assurance Vehicles. This historic city has many great places worth visiting. Chand Bibi Palace, Cavalry Tank Museum, Rehekuri Blackbuck Sanctuary, Ahmednagar Fort and Meherabad are few of the places in this area that attract tourists.
The IDBI Bank Ltd provides personalized banking and financial solutions to its customers in the retail and corporate sector via the network of branches, ATMs and internet banking. Core IT banking platform drives the operations of IDBI. Under the Parliament Act, IDBI Bank was constituted in 1964 as a wholly-owned subsidiary of the RBI. In 1976, GOI took the ownership of IDBI, and it was regarded as the public financial institution in the finance and development industry. In July 1995, the government holding in the bank shares came down from 100% to 75% due to the public issue of IDBI. In the year 2004, the IDBI was transformed into the bank from DFI. IDBI obtained the status of a limited company under Transfer of Undertaking and Repeal Act, 2003 (Repeal Act). The scheduled bank status was given to IDBI Bank by the Reserve Bank of India under the RBI Act, 1934. Consequently, the IDBI formally entered into the banking business as IDBI Ltd. The United Western Bank Ltd was with IDBI Ltd in 2006, under the provisions of section 45 of Banking Regulation Act, 1949. In the year 2008, the name of the bank was changed from IDBI Ltd to IDBI Bank Ltd, and a fresh certificate of incorporation was issued.