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Maharashtra has been a progressive region and Banking activity was also started in this region quite early. Historically speaking, the Bank of Bombay established in 1840 was the first commercial bank in Maharashtra. However, the first commercial bank set up in Maharashtra outside Mumbai was The Poona Bank established in 1889 at Pune, followed ...
Bank name Established Headquarters Branches Total assets Revenues Refs Axis Bank: 1993: Mumbai, Maharashtra: 5,377 ₹ 1,518,238 crore (US$180 billion) ₹ 106,155 crore (US$13 billion) [24]
Rank Name of the Bank Year of Founding Year of Closing Fate Headquartered in References [1]; 1: The Madras Bank (1683) 1683: 1843: Merged with the Carnatic Bank, The British Bank of Madras (1795), and the Asiatic Bank to form the Bank of Madras in 1843
The seven other state banks became subsidiaries of the new bank in 1959 when the State Bank of India (Subsidiary Banks) Act, 1959 was passed by the Union government. [ 1 ] The next major government intervention in banking took place on 19 July 1969 when the Indira government nationalised an additional 14 major banks.
State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra.It is the 48th largest bank in the world by total assets and ranked 178th in the Fortune Global 500 list of the world's biggest corporations of 2024, being the only Indian bank on the list. [11]
In January 2022, RBI asked Unity Small Finance Bank Limited (Unity SFB) to take over the operations of the private sector bank Punjab and Maharashtra Co-operative Bank (PMC), following mismanagement and one failed merger attempts with NBFC/SFBs.
Punjab & Maharashtra Co-operative Bank Limited (PMC), was a multi-state co-operative bank that began operations in 1983. It had 137 branches spread over half a dozen states of India and nearly 100 branches were in Maharashtra. It was regulated by the Reserve Bank of India and registered under the Cooperative Societies Act. [1]
Bank of India was founded on 7 September 1906 by a group of eminent businessmen from Mumbai, Maharashtra, India.The Bank was under private ownership and control till 19 July 1969 when it was nationalised along with 13 other banks.