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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 ...
In the 19th century India, Prince Dwarkanath Tagore owned his own trading firm Carr, Tagore and Company. He then separated the financial activities of his firm into a separate banking company. As a result, the Union Bank was founded in 1828. [2] The bank was formed by the merger of two other banks: The Commercial Bank and The Calcutta Bank. [3] [4]
The board first met on 23 May 1894. [5] The bank opened for business on 12 April 1895 in Lahore. [citation needed] PNB is the first Indian bank to have been started solely with Indian capital that survives to the present, as the earlier Oudh Commercial Bank, which was established in 1881, failed in 1958. [citation needed]
The Allahabad Bank, established in 1865 and still functioning today, is the oldest Joint Stock bank in India, it was not the first though. That honour belongs to the Bank of Upper India, which was established in 1863 and survived until 1913, when it failed, with some of its assets and liabilities being transferred to the Alliance Bank of Simla.
The Indian Hotels Company: 1902 Nahoum & Sons: 1902 Shalimar Paints: 1902 Taj Hotels: 1902 Umesh Laldas Jamnadas Khushaldas (ULJK Group) 1903 City Union Bank: 1904 Phoenix Mills: 1905 Tamil Nadu State Cooperative Bank (TNSC Bank) 1905 Aurora Film Corporation: 1906 Bank of India: 1906 Canara Bank: 1906 Cosmos Co-operative Bank Ltd: 1906 Hamdard ...
The Imperial Bank of India (IBI) was one of the oldest and the largest commercial banks in India, and was subsequently renamed and nationalised as the State Bank of India in 1955. Initially, as per its royal charter , it acted as the central bank for India prior to the formation of the Reserve Bank of India (RBI) in 1935.
Oudh Commercial Bank or Awadh Commercial Bank was an Indian bank established in 1881 in Faizabad and operated until 1958 when it failed. It was the first commercial bank in India having limited liability and an entirely Indian board of directors. It was a small bank that had no branches and that served only local needs. [1] [2]
Allahabad Bank was an Indian nationalised bank with its headquarters in Kolkata, India. [2] Founded in Allahabad in 1865 and nationalized by the government of India in 1969, the bank provided banking and financial services for 155 years until it was merged with Indian Bank in 2020. It was the oldest still running joint stock bank in India until ...