Dharmavaram is situated in the Anantapur district of Andhra Pradesh. It functions as the divisional headquarter of the Dharmavaram revenue division and the Dharmavaram Mandal. The huge tank at Dharmavaram was built by Kriyasakthi Odeyar, whose mothers name was Dharmamba. The city has got its name there. Dharmavaram is known for cotton and silk weaving industries. The handloom silk sarees of Dharmavaram are popular all over South India. It is often called the silk City of Andhra Pradesh. The economy of the town is driven by the weaving industry. The major crop cultivated in this area is groundnut. Leather puppets are manufactured at Dharmavaram and the city is quite famous for it. Around 1.2 lakh residents live in Dharmavaram, who mostly speak in Telugu. Dharmavaram has adequate government schools to impart primary and secondary school education. It also has a few aided and private schools and colleges. The city has good connectivity in terms of roads and railway.
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.