Evolution of Banking PDF
Sign Up on PracticeMock for Free Tests, General Awareness, Current Affairs, Exam Notifications and Updates

The story of banks in India starts with establishment of Bank of Hindustan in 1770 by the agency house of Alexander and Company. Bank of Hindustan failed in the commercial crisis of 1832.

SBI Clerk Prelims free mock test

The General Bank of India was established in 1786 but failed in 1791.

Three Presidency banks were set up under charter of the British East India Company:

1. Bank of Calcutta (in 1806 & later renamed as Bank of Bengal in 1809),

2. Bank of Bombay (in 1840) and,

3. Bank of Madras (in 1843).

These three presidency banks were merged in 1921 to form the Imperial Bank of India, which upon India’s independence, became the State Bank of India in 1955.

SSC CGL Tier I free mock test

Some of the banks established in Pre-independence period which are still in existence are given below:

BankEstablishment Year
Allahabad Bank1865
Punjab National Bank1894
Bank of India1906
Central Bank of India1911
Canara Bank1906
Bank of Baroda1908

Evolution of Banking in India – Download Free PDF

    Free Mock Tests for the Upcoming Exams

Leave a Reply

Your email address will not be published. Required fields are marked *