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List of oldest banks in India

Summary

This list of the oldest banks in India includes financial institutions that were founded in the 18th and 19th centuries. Listed are the forty oldest banks in India, which includes all financial institutions founded prior to 1850.

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.

The oldest bank still in operation is the State Bank of India, whose origins can be traced back to the Bank of Calcutta. It was founded in 1806, though the tenth to be founded.[1]

Rank Name of bank Year of founding Year of closing Present status Headquartered in References[2]
1 The Madras Bank (1683) 1683 1843 Merged to form Bank of Madras, presently the State Bank of India Madras Presidency [3][1][4]
2 Bank of Bombay 1720 1770 Defunct Bombay [3][1][4]
3 Bank of Hindustan 1770 1832 Defunct Calcutta [3][1][4]
4 General Bank of Bengal and Bihar 1773 1775 Defunct Calcutta [3][1][4]
5 Bengal Bank 1784 1791 Defunct Calcutta [3][1][4]
6 General Bank of India 1786 1791 Defunct Calcutta [3][1][4]
7 Carnatic Bank 1788 1843 Merged to form Bank of Madras, presently the State Bank of India Madras Presidency [3][1][4]
8 British Bank of Madras 1795 1843 Merged to form Bank of Madras, presently the State Bank of India Madras Presidency [3][1][4]
9 The Asiatic Bank (1804) 1804 1843 Merged to form Bank of Madras, presently the State Bank of India Madras Presidency [3][1][4]
10 Bank of Calcutta 1806 1921 Merged with the Imperial Bank of India, presently the State Bank of India Calcutta [3][1][4]
11 The Commercial Bank 1819 1828 Merged with The Calcutta Bank to form The Union Bank Calcutta [3][1][4]
12 The Calcutta Bank 1824 1828 Merged with The Commercial Bank to form The Union Bank Calcutta [3][1][4]
13 The Bank of India 1828 1829 Defunct Calcutta [3][1][4]
14 The Union Bank 1828 1848 Defunct Calcutta [3][1][4]
15 The Government Savings Bank 1833 1843 Defunct Calcutta [3][1][4]
16 The Agra & United Service Bank 1833 1866 Defunct Agra [3][1][4]
17 The Bank of Mirzapore 1835 1837 Defunct Mirzapur [3][1][4]
18 Bank of India (London) 1836 1836 Defunct Calcutta [3][1][4]
19 The North Western Bank of India 1840 1859 Defunct Mussoorie [3][1][4]
20 Bank of Bombay 1840 1921 Merged with the Imperial Bank of India, presently the State Bank of India Bombay [3][1][4]
21 Bank of Asia 1841 1842 Defunct London [3][1][4]
22 The Bank of Ceylon 1841 1849 Merged with the Oriental Bank Corporation Colombo [3][1][4]
23 The East India Bank (1842) 1842 1842 Defunct London [3][1][4]
24 The Oriental Bank Corporation 1842 1884 Defunct Bombay [3][1][4]
25 The Agra Savings Fund 1842 1863 Defunct Agra [3][1][4]
26 The Bank of Madras 1843 1921 Merged with the Imperial Bank of India, presently the State Bank of India Madras Presidency [3][1][4]
27 Delhi Bank Corporation 1844 1916 Merged with the Alliance Bank of Simla Delhi [3][1][4]
28 The Benares Bank 1844 1850 Defunct Benares [3][1][4]
29 The Simla Bank Limited 1844 1893 Defunct Shimla [3][1][4]
30 The Commercial Bank of India 1845 1866 Defunct Bombay [3][1][4]
31 The Cawnpore Bank 1845 1852 Defunct Kanpur [3][1][4]
32 The Dacca Bank 1846 1862 Merged with the Bank of Bengal, presently State Bank of India Dhaka [3][1][4]
33 The London Bank of Australia and India 1852 1852 Defunct Agra [3][1][4]
34 Chartered Bank of Asia 1852 1855 Defunct London [3][1][4]
35 Chartered Mercantile Bank of India, London & China 1853 1853 Defunct London [3][1][4]
36 Chartered Bank of India, Australia and China 1853 1853 Defunct London [3][1][4]
37 The London and Eastern Banking Corporation 1854 1857 Defunct London [3][1][4]
38 The Comptoir D'Escompte of Paris 1854 1854 Defunct Paris [3][1][4]

Locations of headquarters edit

The below cities are frequently listed among the headquarters of the banks mentioned in the above table.

Rank Name of city Number of ancient banks headquartered
1 Calcutta 11
2 London 6
3 Madras 5
4 Bombay 4
5 Agra 3

See also edit

References edit

  1. ^ a b c d e f g h i j k l m n o p q r s t u v w x y z aa ab ac ad ae af ag ah ai aj ak al am "The Evolution of Banking in India". 3 December 2018. Archived from the original on 23 May 2021. Retrieved 23 May 2021.
  2. ^ "The World's Biggest Employers". Forbes. Archived from the original on 26 June 2015. Retrieved 31 July 2015.
  3. ^ a b c d e f g h i j k l m n o p q r s t u v w x y z aa ab ac ad ae af ag ah ai aj ak al "Reserve Bank of India - Museum". rbi.org.in. Archived from the original on 20 October 2021. Retrieved 22 May 2021.
  4. ^ a b c d e f g h i j k l m n o p q r s t u v w x y z aa ab ac ad ae af ag ah ai aj ak al Shrivastava, Mohan Prasad (2007). Banking Reforms and Globalisation. ISBN 9788131301593. Archived from the original on 2 August 2023. Retrieved 10 April 2022.

External links edit

  • List maintained by the Reserve Bank of India
  • Evolution of Banking in India
  • Charles Northcote Cooke
  • History of Banking in India

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