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The first paper notes were issued by the private banks such as Bank of Hindostan and the presidency banks during late 18th century. Via the Paper Currency Act of 1861, the British Government of India was conferred the monopoly to issue paper notes in India. [5] It was liquidated in 1830–1832. [5]
Alexander and Company, Limited, often simply called Alexander and Co., was an Agency House in British India founded by traders and merchants from Scotland. Alexander and Co. has made several pioneering contributions to the economy of India. Alexander and Co. was the promoter and founder of India's very first bank, the Bank of Hindostan. [1]
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 ...
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.
Syndicate Bank: 1925 Bajaj group: 1926 Darashaw: 1926 Dunlop India [6] 1926 Essel Group: 1926 Forbes Marshall: 1926 Hindustan Construction Company: 1926 Lakshmi Vilas Bank: 1926 Dhanlaxmi Bank: 1927 Hindustan Times (HT Media) 1927 General Motors India: 1928 Hong Kong and Shanghai Banking Corporation [7] 1928 South Indian Bank: 1928
Hindustan Times House, New Delhi. The Delhi-based Hindustan Times is part of the KK Birla Group and managed by Shobhana Bhartia, daughter of the industrialist Krishna Kumar Birla and granddaughter of Ghanshyam Das Birla. [14] HT Media Limited is a subsidiary of The Hindustan Times Limited which is a subsidiary of Earthstone Holding (Two) Limited.
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The Bank of Hindustan was a legally separate organization but was closely linked to Palmer and Co. Both companies would collapse in the 1830s, leading to the loss of deposits for many people. While under the control of the East India Company, these agency houses contributed to establishing the Tinkathia System , which would prove to be a major ...