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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.
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 ...
There are many finance apps that require you to link a bank account to them, for the sake of making it easier to manage your bank accounts. These apps can help you automate savings, track spending ...
Choose a bank and account that fits both your needs. Check for low fees, solid interest rates and user-friendly features. Check for low fees, solid interest rates and user-friendly features.
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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]
By 2017, it was the country's third-largest private sector life insurance company [6] with a 16.5 percent share of total private-sector premiums for the Financial Year 2017 and fourth largest in the life insurance industry based on premium earned and had 66,372 individual agents across India, comprising 6.8 percent of total private agents in ...