Madhyamgram is situated in the Barasat Sadar subdivision of the North 24 Parganas district in the Indian state of West Bengal. It is a suburb of Kolkata, located around 20 kilometers away from the capital city. Madhyamgram was feudal provinces of Bengal under the Ruler of Jessore during the Mughal era. It got passed on to the British East India Company after the Battle of Plassey in 1757. The Labanyabati river would earlier flow through the area and support the agriculture and trade. Paddy was grown in Madhyamgram and exported via river navigation. The place was also known for its fine embroidery work done by the Muslim inhabitants and traded to rich buyers in Delhi and Mumbai. However, the wide channel of the Labanyabati river endured years of silt deposition and turned into a canal. Its name, through the colloquial transformation, got renamed to Noai. It is now a tiny stream and people call it the Noai Canal. There are many textile mills and rubber factories in Madhyamgram which boosts the economy of the city. There are nearly two lakh residents in Madhyamgram and they speak in Bengali. The town has two graduate colleges- Acharya Prafulla Chandra College and Vivekananda College. Most of its residents travel to nearby cities or the metro city of Kolkata for work or education. The city is very well connected to nearby areas via railway and roads.
The Deutsche Bank was founded in 1870, and its first domestic branches were opened in Bremen and Hamburg in 1871 and 1872. The branch opening in London was a prime necessity for the establishment of credit for the German trade. Significant projects in the early years of the bank included the Northern Pacific Railroad in the US and the Baghdad Railway in 1888. In Germany, the bank was contributory in the financing of steel company Krupp (1879) bond offerings. In the 1890s, the new period of expansion at Deutsche Bank began. The bank associated with some giant regional banks, making its entry into leading industrial regions of Germany. Joint ventures were symptomatic of the concentration then underway in the German banking industry. Having domestic branches of its own was still something of a rarity for Deutsche Bank; in 1886 the Frankfurt branch established and the Munich branch in 1892, while further offices were opened in 1901 in Dresden and Leipzig. The formation of Deutsche Ueberseeische Bank in 1886 was gently pressurized by the foreign ministry, and three years later the stake was taken in the newly established Deutsch-Asiatische Bank. But the success of those companies showed that their existence was commercially justified.