The city of Raichur is located between Krishna and Tungabhadra rivers in the Indian state of Karnataka. The city houses around 2 lakh residents. Although Kannada is the main language of Raichur, Telugu and Urdu are also widely spoken. Raichur is known for its imposing Raichur Fort which was built in 1294. The fort contains stone inscriptions in Persian and Arabic that adds to its rich history. The had been a part of various empires including the Bahmanis, the Vijayanagara Empire and the Hyderabad empire. The city is also very rich from the epigraphical perspective. Hundreds of inscriptions have been found in the area, ranging from the Mauryan period till the Muslim period, belonging to almost every dynasty that ruled over the Decan. These inscriptions are in a variety of languages such as Kannada, Telugu, Arabic, Sanskrit, Prakrit, and Persian. There are gold mines surrounding the city of Raichur that vastly contribute to the economy of the city. The city is also a leading producer of cotton and oil.
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.