The Indian city of Bhavnagar is situated in the western state of Gujarat. It is often called ?Bhavena? by the residents. The city serves as the administrative headquarters of Bhavnagar District which was established by and named after Bhavsinhji Gohil. Bhavnagar city was the former capital of the Bhavnagar princely state, which was later merged into India in 1948. The city is a gateway to the Saurashtra region of Gujarat. It has some of the holiest temples of the Jain religion. The economy of this city is primarily industrial in nature. There are a large number of medium and small-scale industries based in the city. Diamond cutting and polishing units, plastics, salt and marine chemicals, shipbuilding and ship-breaking industries are widely popular in the Bhavnagar area. Besides the industrial units, the citys economy also benefits from agriculture. Groundnut, onion, cotton, bajra, guavas and pomegranate and mango are cultivated and traded. The city is known for its version of the traditional Gujarati snack Ganthiya. There are many government-run as well as private educational institutions in this city. Moreover, Bhavnagar attracts quite a lot of religious pilgrims since it is close to the Palitana Jain Temples. Other places like Blackbuck National Park, Takhteshwar Temple, Khodiyar Mandir, Victoria Park, Nilambag Palace Hotel, etc. also attract many 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.