Joseph Augusti Kayalackakom (1884-1968) was an outstanding entrepreneur of 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....

, India

India

India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...

. He made pioneering ventures in diverse spheres during the first half of the 20th century, and was a major figure in the financial and social arena of the State for nearly fifty years.

He was born in 1884 in Palai, a small town in the central part of the then native state of Travancore

Travancore

Kingdom of Travancore was a former Hindu feudal kingdom and Indian Princely State with its capital at Padmanabhapuram or Trivandrum ruled by the Travancore Royal Family. The Kingdom of Travancore comprised most of modern day southern Kerala, Kanyakumari district, and the southernmost parts of...

 (which became part of Kerala after India's independence). He had two younger brothers and one younger sister. He had little formal education. He joined the trading business of his uncle and helped develop it, and diversify into textile trade. In 1910, at the relatively young age of 26, he set up a textile shop in Trivandrum, the capital of Travancore, traversing the 200 kilometre distance on foot, bullock-cart and country boat. In 1913, he started motor transport business in Trivandrum by purchasing a bus and operating the first ever bus to run on the Trivandrum-Kollam

Kollam

Kollam , often anglicized as ', is a city in the Indian state of Kerala. The city lies on the banks of Ashtamudi Lake on the Arabian sea coast and is situated about north of the state capital, Thiruvananthapuram...

 route.

Augusti was the force behind the political and social activities of his younger brother, J Thomas Kayalackakom, including the starting in 1913 of a literary magazine by name "Vijnaana Rathnaakaram

Vijnaana Rathnaakaram

"Vijnaana Rathnaakaram" was a literary magazine started in 1913 in the old Native State of Travancore, India. J Thomas Kayalackakom was its founder publisher and Mahakavi Kattakayam Cherian Mappillai was its Editor. It was the second literary magazine of Travancore, and one of the early such...

", with Mahakavi Kattakayam Cherian Mappillai

Kattakayam Cherian Mappillai

Kattakayam Cherian Mappillai was a Malayalam poet. His magnum opus is the epic poem Shreeyeshu Vijayam composed over a span of 15 years, and finished in the year 1926, which earned him the title of Mahakavi. He was the Editor of Vijnaana Rathnaakaram, one of the early literary magazines in the...

 as Editor. It was the second literary magazine of Travancore, and one of the early such publications in Malayalam language.

In 1927, he founded the Palai Central Bank

Palai Central Bank

Palai Central Bank was a commercial bank that functioned with its headquarters in Kerala, South India during the middle of last century. Although it was started in a small remote town, the Bank grew up to become not only the biggest bank but the biggest institution in Kerala, after the state...

, which grew up to become not only the biggest bank but the biggest institution in Kerala after the state Government, and the 17th largest among the more than 94 scheduled commercial banks in India.

In 1943, together with his younger brother, he oversaw the public-issue of the 2800 acres (11.3 km²) Mysore Plantations Limited, the State’s first ever plantation-public-issue. In 1944, East India Agencies, a partnership firm in which he was a partner, took over the British-owned Teekoy Rubbers Ltd, the first acquisition of a sterling company in the state. In 1946, he inspired his younger brother and two of his cousins to start "Kayalackakom Company" Cochin, the first stock & share brokers' firm in the State. In 1948, he helped to revive the newspaper Malayala Manorama

Malayala Manorama

Malayala Manorama is a daily news paper, in Malayalam language, published in the state of Kerala, India. It was first published as a weekly on 14 March 1890, and currently has a readership of over 16 million . The Malayalam word "manorama" roughly translates to "entertainer"...

, by making an investment of 20% in its shares. He endeavoured to bring a new Diocese to Palai, and in 1950 led a delegation to Rome for the investiture of the new Bishop. When the Kerala State was formed in 1956, he took keen interest in the development of the newly formed State by making his Bank subscribe to Government Bonds for large amounts.