Raiganj is a small city as well as a municipality in the Indian state of West Bengal. It functions as the headquarters of the Uttar Dinajpur district. Raiganj was established 200 years ago. Some believe that the name of the place has come from the word "Rai" which refers to the character of Radha in Mahabharata. Some others say that the name is associated with the royal family of Dinajpur as their surname was Rai. However, the widely accepted opinion is that the name of the city originated from the excess of rai sorshe cultivated in the place, which is a special type of mustard. The city has around 2 lakh Bengali speaking residents. Raiganj is famous for the Raiganj Wildlife Sanctuary, or the Kulik bird sanctuary. It is a home to many Asian Openbills as well as other waterbirds. It is the largest bird sanctuary in Asia. Hence tourism is a huge source of the economy here. Raiganj doesnt have many industries, but it is a very important trading center. Daily business transactions in Raiganj shoots up to at least six crores on an average. A few places worth visiting in and around the city are the Raiganj Church, the Jain Temples, several Hindu temples, Terracotta pottery at Malgaon, etc.
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.