The bank was incorporated on 29 May 1913.
Over time, Nedungadi established 174 branches, including branches at all major metropolitan cities such as New Delhi, Calcutta, Chennai, Mumbai, 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, the Punjab National Bank (PNB) took over Nedungadi. 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.
- Krishnan, Harihara (2017). Banking India, Accepting Deposits for the Purpose of Lending.
- Know Them: One answer to many questions - Page 14, by Akhila E K, 2017.
- Statistical Tables Relating to Banks in India - Page 78, by The Reserve Bank of India, 1978.
- Malayalam Literary Survey - Volume 22 - Page 29.
- Action Taken Report on the Report of the Joint Parliamentary Committee on Stock Market Scam and Matters Relating Thereto, by the Indian Government and JPC, 2003.