Madanapalle is located in the Chittoor district of Andhra Pradesh. The town functions as the headquarter of the Madanapalle revenue division and mandal. The town was founded by Sri Ahobila Nayunivaru in 1618 AD. The economy of Madanapalle is based on agriculture. The main cultivated products are tomato, mango, groundnut, tamarind, etc. It is the largest tomato market in Asia. The tomatoes from this area are supplied to many Indian states. Madanapalle is known for its silk products like silk saris and dress materials. One can get good quality silk products at nominal costs. These silk garments are supplied to all major cities in South India such as Bangalore, Chennai and all silk product towns for sales. Madanapalle surroundings have enormous reserves of granite. Madanapalle is well connected to all nearby areas via road and rail. Three Bus terminals provide services in Madanapalle. Madanapalle Road Railway Station connects the town to the nearby cities of Guntakal and Secunderabad.
The Indian Bank was established on 15 August 1907 as a part of Swadeshi movement. The bank is serving the nation with a dedicated staff of 19,843 as of 31st March 2018, and total business of the bank has touched Rs3,70,000 Crores. The bank has its overseas branches in Singapore, Colombo along with a foreign currency banking unit at Columbo and Jaffna. The two subsidiary diversified banking activities include IndBank Merchant Banking Services Ltd and Ind Bank Housing Ltd. The bank has allocated 2975 sub service areas as per Pradhan Mantri Jan-Dhan Seva Scheme under Finacial Inclusion Plan. The Indian Bank has a major role in introducing Self Help Groups(SHGs) and Financial Inclusion Projects in the country. The NABARD had awarded Indian Bank for being one among the two PSBs which linked the credit with the SHGs during 36th Foundation Day celebration at NABARD. The Indian Bank has also received Best Performer Award for microfinance activities in Kerela, Tamil Nadu and Puducherry(UT). Till now the bank has incorporated 39 specialized microfinance offices across the country.