Federal Bank is headquartered in Aluva in the suburbs of the city. Availability of electricity, fresh water, long coastline, backwaters, good banking facilities, presence of a major port, container trans-shipment terminal, harbor terminal and an international air terminal are some of the factors which accelerated the industrial growth in the city and its adjoining district.[29] In recent years the
city has witnessed heavy investment, thus making it one of the fastest-growing second-tier metro cities in India. Kochi is recognized as one of the seventeen major industrial cities of India by World Bank, Doing Business Group. However, in the 2009 rankings of ease to start and operate a business, among the 17 Indian cities selected, Kochi was rated as the second most difficult city to start business and was ranked 16th, above Kolkata. Ancient travellers and tradesmen referred to Kochi in their writings, variously alluding to it as Cocym, Cochym, Cochin, and Kochi.[16] The Cochin Jewish community called Cochin as Kogin (קוגין), which is seen in the seal of the synagogue[citation needed] which is still owned by the community. The origin of the name "Kochi" is thought to be from the Malayalam word kochu azhi, meaning 'small lagoon'. Yet another theory is that Kochi is derived from the word Kaci meaning 'harbour'.[17] Accounts by Italian explorers Nicolo Conti (15th century), and Fra Paoline in the 17th century say that it was called Kochchi, named after the river connecting the backwaters to the sea.[citation needed] After the arrival of the Portuguese, and later the British, the name Cochin stuck as the official appellation. The city reverted to a closer anglicisation of its original Malayalam name, Kochi, in 1996. However, it is still widely referred to as Cochin, with the city corporation retaining its name as Corporation of Cochin.