Miryalaguda is located in the Nalgonda district of Telangana. The city is being developed under the Indian Governments Atal Mission for Rejuvenation and Urban Transformation scheme. The city has around 1 lakh residents and Telugu is the commonly spoken language in the area, followed by Urdu. The population of Miryalaguda comprises Hindu as well as Muslims. Apart from the regular festivals like Dusshera, Diwali, Ganesh Chaturthi, several regional festivals such as Bonalu and Bathkamma are celebrated in the area. The Muslims celebrate Eid-ul-Fitr, Ramadan, Milad-un-Nabi and Muharram. Water from the Left canal of Nagarjuna Sagar provides irrigation to Miryalguda, making the city green and commercially rich. Miryalguda is famous for the cultivation of paddy. It is one of the top 5 paddy markets in the state. Rapid expansion invited a lot of new settlers to Miryalaguda, which made the city quite congested. The city has many rice mills which provide employment opportunities to its residents.
Federal Bank Limited was established on 28th April 1931. In September 2006, the Ganesh Bank of Kurundwad was merged with Federal Bank, and the total number of the bank branches crossed 500. In July 2011, the Federal office launched the general insurance cover for stabilizing the relationship with the clients. FedDelight, banks unique gift card was launched in September 2011. In November 2011, the bank started its 24/7 customer care which was controlled by differently abled people. The Federal Bank has also signed an agreement with Samba Bank for inward remittance. The stocks of the bank get listed on the BSE Index in 2012. In August 2013, the bank launched its first electronic passbook named Fedbook in India, and it was awarded as the most active organization. The bank has adopted an exclusive video conferencing facility named Vconnect to enable customers to interact with relationship managers of the bank. In June 2015, the bank launched an innovative payment app for its customers named, Scan n Pay. Another initiative in digital banking was Fed-E-Credit, the first digital loan in August 2015. In January 2016, the bank introduced miss call based banking services for fund transfer.