Bank Structure

Combined Capital Company Act in 1860

In this Act many banks were established under limited liabilities.

1.     Allahabad bank in 1865

2.     Oudh commercial Bank (1^st  Bank run by Indians ) in 1881

3.     Punjab National Bank ( Fully Indigenous Bank ) in 1894

4.     Bank of India  in year 1906

5.     Bank of Baroda in year 1908

6.     Central Bank of India in year 1911 was result of swadesi movement.

7.     Alliance Bank of Shimla ( now closed )

          Along with these 500 banks were also established during this period. 

During the period of 1913 to 1917 was the era of banking crisis in India due to the 1^st World War .Approximately 588 banks were destroyed during this time.

Tata Industrial Bank was established in 1917 for Industrial Financing.

BANK ( A brief History )

Bank is a financial Institution that receives deposits from public and give them interest on it.Bank lends this money to others for investment purpose to generate the interest.

In India banking system was started by money lenders and bankers since Mughal Period.

In 18th century modern banking system was started by British East India Company with few agency houses.

Agency houses were accepting deposits from public and lending the money to the East India Company for monetary purpose.

First bank in India was established by Alexgendria & Company, its name was “Bank of Hindustan” in 1770 and it was closed in 1806.

With the end of company commercial rights, agency house were dissolved in the year 1813, resulting in the formation of 3 Presidency banks.

Presidency Bank –           1) Bank of Bengal in year 1806

2) Bank of Bombay in the year 1840

3) Bank of Madras in the year 1842

In 1862 government had withdrawn the rights to lend on fixed assets.