Nedumpuram is the birthplace of Federal Bank. The Federal Bank Limited (the erstwhile Travancore Federal Bank Limited) was incorporated with an authorized capital of ₹5,000 from Pattamukkil Varattisseril Brother's at Pattamukkil Varattisseril Ancestral Home, Nedumpuram a place near Thiruvalla in Central Travancore on 28 April 1931 under the Travancore Companies Regulation, 1916. It started with the business of auction-chitty and elementary banking transactions related to agriculture and industry. The home functioned as the bank office for nearly 15 years.