Federal Bank | SBI PO Prelims & Mains Preparation - Bank Exams PDF Download

Introduction

• The Federal Bank Limited is one of the major private sector commercial bank in India.
• As on 31 March 2016, Federal Bank has 1252 branches spread across 24 states and 1516 ATMs across the country.
• Let us see in detail about this Bank.

History

• The Bank was incorporated on 23 April 1931 as The Travancore Federal Bank Limited at Nedumpuram under the Travancore Companies Regulation Act, 1916.
• Oommen Varghese was the founder and chairman of the bank.
• Oommen Chacko was the manager of the bank.
• After the bank had functioned for nearly 10 years, the bank's day-to-day operations had to be stopped due to Oommen Chacko's ill-health.
• A lawyer, named K.P.Hormis, bought the bank and took over the management on 1945.
• In 1945 they moved the bank's registered office to Aluva and Hormis became the Managing Director.
• In 1949 December 2, the bank's name was changed from Travancore Federal Bank to the Federal Bank.
• In 1970, Federal Bank became a scheduled commercial bank
• In January 2008, Federal Bank opened its first overseas representative office in Abu Dhabi.
• Logo of Federal bank:
  
  • Tagline: Your Perfect Banking Partner
  • Headquarter: Aluva, Kochi, Kerala
  • MD & CEO: Shyam Srinivasan
  • Founded on: 1931 as Travancore Federal Bank

Mergers

• Chalakudy Public Bank in 1929
• Cochin Union Bank in 1963
• Alleppey Bank in 1964
• St. George Union Bank in 1965
• Marthandam Commercial Bank in 1968

Digital offerings provided by Federal Bank

• FedBook in 2013 
• Platinum and Gold ‘N More Credit card in 2015 
• Automated chat facility in 2015 
• Launchpad in 2016 
• Lotza App in 2016 

Unique Features of LoTZA App

• LoTZA is a single App, which Links your Multiple Bank accounts for banking Requirements. 
• It is an UPI (Unified Payment Interface) App approved by NPCI (National Payments Corporation of India Ltd. 
• Transaction History can be viewed. 
• MPIN of Mobile banking can be changed. 
• Will get an OTP from the customer’s Bank (Non-Federal bank customers) to complete IMPS transactions. 
• Able to get account Balance of Registered account. 
• Option to send money to any Bank Account using only Virtual Payment Address (VPA). 

Awards Received Recently

• The Best Performed Old Private Sector Bank in Kerala for the year 2015-16
• MasterCard Innovation Awards 2016
• ET Best Corporate Brand 2016 Award
• Prestigious 6th Annual Greentech HR Award for "Technology Excellence in HR".
• Skoch Smart Technology Award 2015 for FedBook Selfie
• IDRBT Award for Digital Banking