Davanagere is an emerging city in the Indian state of Karnataka. This city has been selected by PM Narendra Modi to be developed into a smart city under the ambitious flagship Smart Cities Mission. It is a cotton hub and has often been referred to as the Manchester of Karnataka. Currently, the city is commercially venturing into the fields of education and agro-processing industries. Located in the Maidan region on the Deccan Plateau, the city is often called the "Heart of Karnataka" as it is literally located in the center of the state. This city houses Asias 2nd largest irrigation tank known as "Shanti Sagar," which serves as a major water source for farmers in the region. There are roughly half a million residents in Devanagere who mostly speak in Kannada. The city is well connected to the rest of the state as well as the country through a decent network of roads and railway.
The State Bank of India was found on 1 July 1955. The Reserve Bank of Indias stake in SBI, took over by the government of India in 2008 to remove any conflict of interest because the RBI is the banking regulatory authority of India. The government passed the (Subsidiary Banks) Act, State Bank of India in 1959. This made SBI subsidiaries free, that had belonged to princely states before their nationalization. The operational takeover between September 1959 and October 1960, had earned eight associate state banks for SBI. The SBI united with the first Five Year Plan, which prioritized the development of rural India. The government integrated these associate banks into the State Bank of India system to expand its rural outreach. The State Bank of Jaipur and State Bank of Bikaner was merged with the State Bank of India in 1963. The SBI had 59,291 ATMs as of 31st March 2017. The SBI provided an integrated digital banking platform named "YONO" to its customers. The equity shares of SBI are listed on the Bombay Stock Exchange, and NSE.