Federal Bank’s board has cleared Rs 148 crore-capital investment into subsidiary Fedbank Financial Services (FFSL) through a rights issue. FFSL is a non-deposit-taking systemically important NBFC, which was set up in 1995 by the bank.
Federal Bank is a major Indian commercial bank in the private sector headquartered at Aluva, Kerala having more than thousand branches and ATMs spread across different States in India. It offers personal, corporate, NRI, SME banking, online banking services to its customers.