The Indian city of Thoothukudi is a port city as well as an industrial city in the state of Tamil Nadu. It lies on the Coromandel coast, overlooking the Bay of Bengal. It was earlier known as Tuticorin. It functions as the headquarter of the eponymous district. The Tamilnad Mercantile Bank Limited is headquartered at Tuticorin. Major educational institutions in the city include the Tamilnadu Maritime Academy, the Thoothukudi Medical College, the Fisheries College and Research Institute, the Government Polytechnic College and Anna University campus. The port in the city is one of the major and fastest growing ports in the country. The city is also considered to be one of the rising energy and industrial hubs of South India. The city is known for pearl fishing and is thus often called the "Pearl City." The city is believed to have a great historical past as it has been ruled by the various dynasties in the past including the foreign settlers like the Portuguese, the Dutch and the British. The modern urban agglomeration of Thoothukudi has a population of more than 4 lakh. Most of the people of the city work in salt pans, fishing, sea-borne trading and tourism. There are 21 islands between Thoothukudi and Rameswaram that are regarded as Indias first Marine Biosphere Reserve which hosts around 36,000 species of flora and fauna. It is a protected area and is known as the Gulf of Mannar Marine National Park. There are many festivals organized in the area that are worth attending such as Our Lady of Snows Basilica festival, Sasti, Adi Amavasai and Chittirai chariot festivals.
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.