BANKING AFFAIRS

Detailed explanation-1: -Federal Bank Limited is an Indian private sector bank headquartered in Aluva, Kochi, Kerala. The bank has 1, 336 branches spread across different states in India. It also has representative offices abroad in Abu Dhabi, Qatar, Kuwait, Oman, and Dubai.

Detailed explanation-2: -With his vision and foresight, Shri Hormis brought into the institution a new level of dynamism, to transform it into a pan-India organisation. Licensed under the Banking Regulation Act, 1949, on July 11, 1959, the Bank went on to become a scheduled commercial bank on July 20, 1970.

Detailed explanation-3: -Federal Bank Limited is one of the major Indian commercial banks in the private sector headquartered at Aluva Kerala. The Bank operates in four segments: treasury operations wholesale banking retail banking and other banking operations.

Detailed explanation-4: -Late Kulangara Paulo Hormis, the visionary Banker was born on 18th October, 1917 at Mookkannoor; a small village in the suburbs of Greater Cochin, in a traditional agrarian family. He started his career as an Advocate in the Munisiff Court of Perumbavoor.