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History of Banking in India - Coggle Diagram
History of Banking in India
1865
Allahabad Bank
Oldest Bank surviving w same name
HQ: Cukcutta
X Allahabad
1894
PNB
1st Bank w Indian Capital
Only Indian money was Invested
1st Bank
Bank of Hidustan
1770
But cant run well
So collapse
Alexander & Company
3 banks by EIC
1806 - Bank of Bengal
1840 - Bank of Bombay
Bank of Madras
Merely in their precidencies
1881
Imperial Bank of India
3 banks merged
1921
Performed functions of Central Bank till 1934
1955
SBI act
Brought under GOI
7 associate
(not IMP)
Hyderabad
Travancore
Patiala
Bikaner & Jaipur
Mysore
Saurashtra
Indore
2008 & 2010
Bank of saurashtra & Indore
Merged
1st April 2017
5 associates were merged
Reason: Narsimham Committee Recom.
Extra Info:
Bhartiya Mahila Bank merged w SBI
setup in 2013
Reason:
Actually recom given in 1981
To promote Global Bank SBI