The city of Sonipat is also a Municipal Corporation in the Indian state of Haryana. Situated at a distance of 43 kilometers from the capital city of Delhi, Sonipat is a part of the National Capital Region. The Yamuna marks the eastern boundary of Sonipat, which was earlier a part of Rohtak but was separated and made into a full-fledged district in 1972. Legend says that Sonipat was previously known as Sonprastha, which was modified to svarnaprastha or the golden city. Later, the name was shortened to Svarnpath, and eventually to its current form, Sonipat - also spelled as Sonepat. The Hindu epic Mahabharata says that Svarnaprastha was founded by the Pandavas. The district of Sonipat is divided into three regions - Khadar, Upland Plain and Sandy Region. The city is located on the upland plains. This area is rich in old alluvium, which is highly productive if properly irrigated. Wheat, rice, sugarcane, cotton, millet, oilseeds, pulses, barley, maize are abundantly cultivated at Sonipat using irrigation through tube wells and canals. Horticultural plants, vegetables and flowers are also cultivated. Dairy farming and animal husbandry form an essential part of Sonipats rural economy. Four industrial areas have been developed at Sonipat and factories of HSIIDC, Atlas, Birla Factory, OSRAM India, etc. have been set up. The Rajiv Gandhi Education City at Sonipat has been set up by the government that offers space to many universities for setting up their campus.
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.