Rao Bahadur

Rao Bahadur

Rao Bahadur was a title of honour issued in British India to individuals who had performed great service to the nation....

 T.M. (Thalakodi Madathil) Appu Nedungadi

Appu Nedungadi

Appu Nedungadi is the name of Rao Bahadur T.M. Appu Nedungadi, author of Kundalatha, which was published in 1887, making it one of the earliest novels in Malayalam language, spoken in Kerala state, South India.....

 established Nedungadi Bank in 1899 at Calicut in Kerala

Kerala

or Keralam is an Indian state located on the Malabar coast of south-west India. It was created on 1 November 1956 by the States Reorganisation Act by combining various Malayalam speaking regions....

. It was first private sector commercial bank to be set up in South India. The bank was incorporated in 1913 and in 1965 it took over selected assets and liabilities of the Coimbatore National Bank Ltd.

Over time, the bank established some 174 branches, including branches at all major metropolitan cities such as New Delhi

New Delhi

New Delhi is the capital city of India. It serves as the centre of the Government of India and the Government of the National Capital Territory of Delhi. New Delhi is situated within the metropolis of Delhi. It is one of the nine districts of Delhi Union Territory. The total area of the city is...

, Calcutta, Chennai

Chennai

Chennai , formerly known as Madras or Madarasapatinam , is the capital city of the Indian state of Tamil Nadu, located on the Coromandel Coast off the Bay of Bengal. Chennai is the fourth most populous metropolitan area and the sixth most populous city in India...

, Mumbai

Mumbai

Mumbai , formerly known as Bombay in English, is the capital of the Indian state of Maharashtra. It is the most populous city in India, and the fourth most populous city in the world, with a total metropolitan area population of approximately 20.5 million...

, Ahmedabad

Ahmedabad

Ahmedabad also known as Karnavati is the largest city in Gujarat, India. It is the former capital of Gujarat and is also the judicial capital of Gujarat as the Gujarat High Court has its seat in Ahmedabad...

, etc.

In 2002 the Joint Parliamentary Committee (JPC) probing a stock scam pointed out discrepancies in the conduct of business by Nedungadi Bank. In 2003 Punjab National Bank

Punjab National Bank

Punjab National Bank , was founded in 1894 and is currently the second largest state-owned commercial bank in India ahead of Bank of Baroda with about 5000 branches across 764 cities. It serves over 37 million customers. The bank has been ranked 248th biggest bank in the world by the Bankers...

took it over. At the time of the merger with PNB, Nedungadi Bank's shares had zero value, with the result that its shareholders received no payment for their shares.