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Modern banking in India originated in the mid of 18th century. Among the first banks were the Bank of Hindustan, which was established in 1770 and liquidated in 1829–32; and the General Bank of India, established in 1786 but failed in 1791. [1] [2] [3] [4]
The oldest bank in India is The Madras Bank (1683), followed by the Bank of Bombay, founded in 1720, which is then followed by the Bank of Hindustan, founded in 1770. Imperial Bank of India was succeeded by State Bank of India in 1955 and State Bank of Pakistan in 1948 respectively whose origins can be traced back to the Bank of Calcutta. It ...
The Reserve Bank of India, which had been established during British colonial rule as a private company, was nationalized in 1949 following India's independence. By the early 21st century, most of the world's countries had a national central bank set up as a public sector institution, albeit with widely varying degrees of independence.
First National Bank Omaha: United States United States: founded as Kountze Brothers Bank; became First National Bank Omaha in 1865. 1858 Fifth Third Bank: United States United States: 1858 Bendigo & Adelaide Bank: Victoria Australia: as Bendigo Bank 1858 Standard Chartered British Raj India: 1859 National Bank of Canada: Province of Canada ...
The bank is notable for being the thirteenth oldest bank in India. [1] It is also notable for being one of the first institutions in India to issue its own paper banknotes or currency notes. [5] [6] The Paper Currency Act, 1861, abolished the right of private banks to issue their own currency notes. [10] [11]
The Madras Bank (1683) was founded on 21 June 1683. [3] [4] [5] The Madras Bank (1683) was the oldest bank founded in the Madras Presidency making it even older than the Carnatic Bank, The British Bank of Madras (1795) and The Asiatic Bank and served many cities in South India. [4] [6] [3] [5] The bank was founded and largely managed by ...
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The Commercial Bank was a bank founded in the year 1819 in British India. The bank was the eleventh oldest bank in India. [1] The bank was merged with The Calcutta Bank (1824) to form The Union Bank (1828) in 1828. Further, The Union Bank itself became defunct in 1848. [1]