The city of Raichur is located between Krishna and Tungabhadra rivers in the Indian state of Karnataka. The city houses around 2 lakh residents. Although Kannada is the main language of Raichur, Telugu and Urdu are also widely spoken. Raichur is known for its imposing Raichur Fort which was built in 1294. The fort contains stone inscriptions in Persian and Arabic that adds to its rich history. The had been a part of various empires including the Bahmanis, the Vijayanagara Empire and the Hyderabad empire. The city is also very rich from the epigraphical perspective. Hundreds of inscriptions have been found in the area, ranging from the Mauryan period till the Muslim period, belonging to almost every dynasty that ruled over the Decan. These inscriptions are in a variety of languages such as Kannada, Telugu, Arabic, Sanskrit, Prakrit, and Persian. There are gold mines surrounding the city of Raichur that vastly contribute to the economy of the city. The city is also a leading producer of cotton and oil.
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.