STUDY ABOUT THE PAST OF BANKS

• First bank established in India: Bank of Hindustan in 1770
• Second bank: General Bank of India, 1786
• Oldest bank in India originated in the Bank of Calcutta in June 1806 which was still in existence – State Bank of India
• State Bank of India merged with three banks namely Bank of Bengal, Bank of Bombay and Bank of Madras in 1921 to form the Imperial bank of India which was converted as State Bank of India
• First Indian bank got ISO: Canara Bank
• First India bank started solely with Indian capital investment is PNB (Punjab National Bank)
• Founder of Punjab National Bank is Lala Lajpat Rai
• Reserve bank of India (RBI) was instituted in 1935
• First governor of RBI: Mr.Osborne Smith
• First Indian Governor of RBI: Mr. C D Deshmukh
• First bank to introduce savings account in India: Presidency Bank in 1833
• First bank to introduce cheque system in India: Bengal Bank in 1833