The ancient city of Gaya in the Indian state of Bihar has great historical and mythological significance. It is located on the banks of the Phalgu River and is considered to be a place sanctified by the Hindu, Jain and Buddhist religions. Gaya is surrounded by small rocky hills on three sides and the river on the fourth side. The city displays a harmonious mix of natural surroundings, ancient buildings, greenery and narrow by-lanes. Gaya has been mentioned in the great Hindu epics of Ramayana and Mahabharata. Rama, Sita and Lakshmana had visited Gaya to offer "pind-daan" after their father Dasharaths death. The place appears as Gayapuri in the Mahabharata. Gaya has many household industries like incense sticks, stone crafting, power looms as well as local sweets like tilkut and lai. There are some small-scale manufacturing industries for packaging, plastic products, scrap and handlooms. Gaya is an important center for religious tourism. Hence, there are numerous affordable Hotels and other accommodations which contribute to the citys economy. Gaya boasts of a bright educational history. Pristine institutions such as the Magadh University, the Gaya College, the Gaya Engineering College support the education of the youth. A branch of the Indian Institute of Management (IIM) Bodhgaya has also been recently established in Gaya.
The SVC Bank was initially registered as a Co-operative Credit Society on 27 December 1906. In 1907, cumulative deposit scheme, fixed deposit scheme and saving bank deposit were introduced by the bank. The bank in opened first Co-operative store in 1910. In 1915, the first Co-operative housing society was built in Bombay. In 1927, the Fidelity Guarantee Fund was launched simultaneously with Distress Relief Fund in 1931 and Staff Gratuity Fund in 1954. In 1964, Safe Deposit Vaults were introduced by the bank. In Fiscal 2016, the deposits of the bank crossed 13000 crores. In 2002, the corporate office was opened by the bank at SVC Tower in Vakola. In 2003, Genius I Core banking solution was implemented in all the branches of SVC bank. In 2006, the SVC bank successfully sold the software. In 2007, AD-I license was offered to the Shamrao Vithal Co-operative bank. The SVC bank was also allowed to sell the core banking software services to small co-operative banks. By 2010, the bank sold software services to around 25 other banks. The 193rd branch of the SVC bank was opened at Khmagaon. The Bank is present in 10 States of India. Maharashtra, Karnataka, Tamil Nadu, Telangana, Delhi, Rajasthan, Haryana, Goa, Gujarat and Madhya Pradesh