The Indian city of Belgaum is a city in the northern part of the state of Karnataka and lies along the Western Ghats. The Government of Karnataka intends on making Belgaum the second capital of Karnataka. It is being developed into a smart city. The city was earlier known as Venugram which means Bamboo village in Sanskrit. The city has recently acquired a new name as "Kunda Nagari" for its famous sweet dish called "Kunda" which is made of milk, sugar and spices. The city is also known for its sugarcane cultivation and production and is hence often referred to as the "Sugar Bowl of Karnataka" or the "Sugar District." The Government of Karnataka officially changed the name of the city to Belagavi on 1st November 2014. Belgaum experiences a pleasant climate throughout the year and hosts around 6 lakh residents. The city receives heavy rainfall and has abundantly available water due to the rivers in the vicinity. Hence, the fertile soil supports the cultivation of various vegetables and fruits. Belgaum is also a source of poultry, meat and fish. The mining industry also thrives in the area due to the availability of aluminum and uranium ores. The city hosts prestigious educational institutes like the Visvesvaraya Technological University, Karnataka Law Society and Rani Channamma University.
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.