Malegaon is a small city in the Nashik District of the Indian state of Maharashtra. It was previously known as Mulligaum and it lies at the convergence of the Mausam and Girna rivers. The city is known for its famous fort. The Malegaon fort, which took 25 years to build, attracted a lot of Muslim workers and artisans from all over the country, who settled in the area. Later, many people from the Muslim community migrated to this city during various revolts and uprisings in the country. The city has roughly 6 lakh residents, among which 79% follow Islam as their religion. The city is a major hub for cloth weaving. The city has over 3 lakh power looms and t attracts workers from all the neighboring regions. PVC pipe manufacturing industry has also gained importance in Malegaon in the recent years. The citys education system supports native language Marathi as well as Urdu and English through many institutions. There are a few schools in the area, alongside junior colleges and senior colleges that are affiliated to the Pune University. The students seeking higher education generally travel to nearby cities. Malegaon is known for its notorious spoof film industry called Mollywood, which makes parodies and spoofs of classic Hollywood and Bollywood films. Its an extremely low budget film industry where most of the actors are the residents exhibiting their talents and their imaginative minds.
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.