Nizamabad is the 3rd largest city in the Indian state of Telangana. The name of the city is derived from the word Nizam that refers to the Nizam of Hyderabad and Abad which means Long Live in Urdu. The city is sometimes also referred to as The City of Nizams. The city was founded in the year 1905 when the Nizams Dominion was recognized. It was known as Indur earlier. The city has more than 3 lakh residents and experiences a tropical savanna type of climate. The Government of Telangana started the MeeSeva service at Nizamabad in order to provide all government facilities easily to the residents. The economy of Nizamabad is largely dependent upon industries and private businesses. The production of rice, sugar and spices greatly contributes to the citys economic growth. The city has also seen a real estate boom in the recent years. Apart from the typical south Indian food, Nizamabad is known for its Islamic cuisine. Nonvegetarian dishes like Tahari, Haleem, Nihari and Biryani are famous in the city.
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.