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 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.