Begusarai is a town in the Indian state of Bihar. It functions as the administrative headquarters of the Begusarai district which lies on the northern bank of Ganges. It was established and made into a part of the Munger District 1870. The communists have had a strong hold on Begusarai and thus the town was once called the "Leningrad of Bihar." The city is divided into three floodplains called the Ganga Floodplain, the Burhi Gandak Floodplain and the Kareha-Bagmati Floodplain. Agriculture is the pillar of Begusarais economy. The principal cash crops of the area are oilseeds, aniseed, tobacco, jute, potato, red chilies and tomato. Fruits such as Litchi, Mango, Guava and Banana are also cultivated in the area. Recently basil leaves and pearl farming has attracted local farmers. The Barauni refinery contributes considerably to the state exchequer yearly. The city has around 2.5 lakh residents who are mostly employed in the agricultural sector.
The Federal Bank Limited or the Travancore Federal Bank Limited was incorporated on 28th April 1931 with an authorized capital of Rs.5000/- at Nedumpuram, a place near Tiruvalla in Central Travancore under the Travancore Companys Act. It started the business of auction and other banking transactions, connected with agriculture and industry. Shri K P Hormis and his close relatives or friends obtained a controlling interest in the Bank in 1944. On 26th January 1946, the Bank opened its second branch at Angamally. The Bank was licensed under Section 22 of the Banking Companies Act, 1949 on 11th July 1959. In 1970, the Bank got the license of a Scheduled Commercial Bank, which also coincided with the Silver Jubilee Year. In 1972, It witnessed expansion beyond the home state, and the Bank became an Authorised Dealer in Foreign Exchange in 1972. International Banking Department started functioning from Mumbai in 1973. Since then, the Bank could substantially increase its market share of the NRI business. In 1982, the International Banking Department of the bank was later moved to Cochin for centralization of activities. The Bank opened 53 branches during the year 1975 and 42 offices 1976. The total number of offices reached 276 from 114 in 1973. Commenced Merchant Banking Operations in 1989.