Bank of Hindustan is the oldest bank in India. When did it start functioning?

Asked 04-Feb-2018
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Bank of Hindustan is the oldest bank in India. When did it start functioning?


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Bank of Hindustan! 

Bank of Hindustan is the oldest bank in India. When did it start functioning?

It was originally was established in the year of 1770. Primarily, it was established at Calcutta which was managed by the Europeans. It was liquidated in the year of 1830-32.

Since Calcutta was the most dynamic exchanging port in India, basically because of the exchange of the British Empire, it turned into a saving money focus. Three Presidency banks were set up under contracts from the British East India Company-Bank of Calcutta, Bank of Bombay and the Bank of Madras. These functioned as semi-national banks in India for a long time.

The Bank of Calcutta built up in 1806 quickly moved toward becoming Bank of Bengal. In 1921 these 3 banks converged with each other and Imperial Bank of India got birth. It was later renamed in 1955 as the State Bank of India. In this way, State bank of India is the legend Bank of India.  

In 1839, there was an unbeneficial exertion by Indian shippers to build up a Bank called Union Bank. It collapsed within 10 years. Next came Allahabad Bank which was set up in 1865 and working even today. The other legendary Public Sector Bank in India having branches all finished India and serving the clients throughout the previous 145 years is Allahabad Bank. Allahabad bank is otherwise called one of India's Oldest Joint Stock Bank. Be that as it may, the Oldest Joint Stock Bank of India was Bank of Upper India built up in 1863 and flopped in 1913.  

The principal Bank of India with Limited Liability to be overseen by Indian Board was Oudh Commercial Bank. It was built up in 1881 at Faizabad. This bank flopped in 1958. The main bank absolutely oversaw by Indians was Punjab National Bank, set up in Lahore in 1895. The Punjab National Bank has made due till date as well as is one of the biggest banks in India.  

Be that as it may, the principal Indian business bank which was entirely claimed and overseen by Indians was Central Bank of India which was built up in 1911


Hope, this would have given you a hell lot of information about the banking sector!


Cheers!