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It was established by the agency house of Alexander and Company. [2] [3] [4] The Bank lived through three economic crises of the 19th century: [5] The Recession of 1819; The failure of Palmer and Co., a British agency house; The Banking Crisis of 1832
After their initial success, the agency houses started lending money to European entrepreneurs in India and not just the Government.The Alexander and Co. agency house also lent money to several European entrepreneurs, the most notable among them was Josiah Marshall Heath, an English metallurgist who owned several mining ventures in British India.
Agency houses also contributed to the formation of early British banking, with Palmer and Co. forming the Bank of Hindustan. 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.
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HDFC Life was established in 2000 becoming the first private sector life insurance company in India. [10] By 2001, the company had its 100th customer, strengthened its employee force to 100, and had settled its first claim. HDFC Life launched its first TV advertising campaign 'Sar Utha Ke Jiyo' in 2005.
Hindustan Unilever Limited (HUL) is an Indian fast-moving consumer goods company, headquartered in Mumbai. [3] It is a subsidiary of the Anglo-Dutch company Unilever. Its products include foods, beverages, cleaning agents, personal care products and other consumer staples. HUL was established in 1931 as Hindustan Vanaspati Manufacturing Co.
United Phosphorus Limited was established on 29 May 1969. [8] The company changed its name to UPL Limited in October 2013. [9] On 20 July 2018, UPL signed a US$4.2 billion agreement with Platform Specialty Products Corporation (now Element Solutions Inc.) to acquire control of Arysta LifeScience Inc.
The Oriental Life Insurance Company, the first company in India to offer life insurance coverage, was established in Kolkata in 1818 by Bipin Das Gupta. Its primary target market was India. [9] Surendranath Tagore had founded Hindustan Insurance Society around the same time, which later became the Life Insurance Corporation. [10]