Bank of Calcutta

Bank in British Raj

Not to be confused with The Calcutta Bank (1824).

Bank of BengalFormerly| Bank of Calcutta

|

Industry| Banking, financial services
Founded| 2 June 1806; 219 years ago (1806-06-02)
Defunct| 27 January 1921; 104 years ago (1921-01-27)
Fate| Merged with Bank of Bombay and Bank of Madras
Successor| Imperial Bank of India
Headquarters|

Calcutta, Bengal Presidency

British India

Area served

| British India
Share of the Bank of Bengal, issued on 13 May 1876.

The Bank of Calcutta (a precursor to the present State Bank of India) was founded on 2 June 1806, mainly to fund General Arthur Wellesley's wars against Tipu Sultan and the Marathas. It was the tenth oldest bank in India and was renamed Bank of Bengal on 2 January 1809.

## History

[edit]

A bill of exchange processed by the Bank of Bengal, 1886.

The bank opened branches at Rangoon (1861), Patna (1862), Mirzapur (1862), and Benares (1862). When it became known that the bank intended to open a branch at Dacca, negotiations began that resulted in Bank of Bengal in 1862 amalgamating The Dacca Bank (1846).[1] A branch at Cawnpore followed.

## Famous Customers

[edit]

Among the bank's renowned customers were scholar and politician Dadabhai Naoroji, scientist Jagadish Chandra Bose, India's first President Rajendra Prasad, Nobel laureate Rabindranath Tagore, and educationalist Ishwar Chandra Vidyasagar.[2]

## Work

[edit]

The bank was risk averse and would not lend for more than three months, leading to local businessmen, both British and Indian, launching private banks, many of which failed. The most storied bank failure was The Union Bank (1828) founded by Dwarakanath Tagore in partnership with British companies.[3]

The Bank of Calcutta, and the two other Presidency banks – the Bank of Bombay and the Bank of Madras – amalgamated on 27 January 1921. The reorganized banking entity assumed the name Imperial Bank of India.[4] The Reserve Bank of India, which is the central banking organization of India, in the year 1955, acquired a controlling interest in the Imperial Bank of India and the Imperial Bank of India was renamed on 30 April 1955 as the State Bank of India.

## See also

[edit]

* Banking in India
* History of banking
* List of banks that have merged to form the State Bank of India

## References

[edit]

1. ^ Banker's Magazine, Vol. 22, pp. 565–6.
2. ^ "A walk down history when India banked on Calcutta". The Times of India. 5 January 2020. Archived from the original on 16 October 2022. Retrieved 26 May 2020.
3. ^ Paul, Aniek (22 August 2015). "The chequered history of Kolkata's banks". Livemint. Archived from the original on 8 October 2022. Retrieved 26 May 2020.
4. ^ "Bank of Calcutta, oldest bank of Asia never failed!". Get Bengal. Archived from the original on 2 October 2021. Retrieved 2 October 2021.

## Further reading

[edit]

* "200 years and going strong". The Tribune. Retrieved 8 September 2006.
* Amiya Kumar Bagchi. The Evolution of the State Bank of India. Vol. 1 – The Roots 1806-1876. `{{cite book}}`: `|work=` ignored (help)

* v
* t
* e

Banking in India

Institutes|

| Central bank|

* v
* t
* e

Reserve Bank of India

Regulation|

* Reserve Bank of India Act, 1934
* Monetary Policy Committee

People|

* Governor of the Reserve Bank of India
* Deputy governor of the Reserve Bank of India

Buildings|

* Reserve Bank of India Staff College
* RBI Monetary Museum

Subsidiaries|

* Bharatiya Reserve Bank Note Mudran
* Security Printing and Minting Corporation of India

Think tanks|

* BBB
* BCSBI
* NPCI
* IBA
* IDRBT

Speciality banks|

* IFCI
* All India Financial Institutions :
* Exim Bank of India
* NABARD
* NHB
* SIDBI

Other|

* BIFR
* IBBI
* IBPS
* Deposit Insurance (DICGC)

Public-sector
banks|

* Bank of Baroda
* Bank of India
* Canara Bank
* Central Bank of India
* Indian Bank
* Indian Overseas Bank
* Jammu & Kashmir Bank
* Punjab & Sind Bank
* Punjab National Bank
* State Bank of India
* UCO Bank
* Union Bank of India

Private-sector
banks|

* Axis Bank
* Bandhan Bank
* CSB Bank
* City Union Bank
* DCB Bank
* Dhanlaxmi Bank
* Federal Bank
* HDFC Bank
* ICICI Bank
* IDBI Bank
* IDFC First Bank
* IndusInd Bank
* Karnataka Bank
* Karur Vysya Bank
* Kotak Mahindra Bank
* Nainital Bank
* RBL Bank
* South Indian Bank
* Tamilnad Mercantile Bank
* Yes Bank

Foreign banks|

| Foreign Bank Branches|

* Abu Dhabi Commercial Bank
* ANZ
* Bank Maybank Indonesia
* Bank of America
* Bank of Bahrain and Kuwait
* Bank of Ceylon
* Barclays
* Credit Suisse
* CTBC Bank
* Deutsche Bank
* HSBC
* Maybank
* MUFJ
* Rabobank
* Scotiabank
* SMBC
* Standard Chartered India

|

Wholly owned subsidiary (WOS)|

* DBS Bank
* State Bank of Mauritius
* Emirates NBD

Wound up/closed (or in process)|

* Antwerp Diamond Bank
* Citibank

Small finance banks|

* AU
* Fincare
* Capital
* ESAF
* Equitas
* Jana
* North East
* Suryoday
* Ujjivan

Payments banks|

* Airtel
* National Securities Depository
* India Post
* Jio
* Paytm

| Surrendered licencees
or wound up|

* Aditya Birla
* Vodafone M-Pesa
* Tech Mahindra

|

Cooperative
banks|

* Abhyudaya Co-operative Bank.
* Buldana Urban Cooperative Credit Society
* Cosmos Bank
* Dombivli Nagari Sahakari Bank
* Kerala Bank
* Mizoram Co-operative Apex Bank
* Punjab and Maharashtra Co-operative Bank
* Repco Bank
* Saraswat Bank
* Shamrao Vithal Co-operative Bank
* TNSC Bank

Regional rural banks|

* Assam Gramin Vikash Bank
* Bangiya Gramin Vikash Bank
* Mizoram Rural Bank
* Paschim Banga Gramin Bank
* Puduvai Bharathiar Grama Bank
* Tamil Nadu Grama Bank
* Uttar Bihar Gramin Bank
* Uttarakhand Gramin Bank
* Vananchal Gramin Bank

| Andhra|

* Andhra Pradesh Grameena Vikas Bank
* Andhra Pragathi Grameena Bank

|

Kerala|

* Kerala Gramin Bank
* North Malabar Gramin Bank
* South Malabar Gramin Bank

Uttar Pradesh|

* Allahabad UP Gramin Bank
* Gramin Bank of Aryavart
* Sarva UP Gramin Bank

Defunct banks|

| Merged|

| PSB|

* New Bank of India
* Dena Bank
* Vijaya Bank
* Allahabad Bank
* Andhra Bank
* Corporation Bank
* Oriental Bank of Commerce
* United Bank of India
* Syndicate Bank

|

SBI|

* Bank of Bombay
* Bank of Calcutta
* Bank of Madras
* Imperial Bank of India
* State Bank of Bikaner & Jaipur
* State Bank of Hyderabad
* State Bank of Indore
* State Bank of Mysore
* State Bank of Patiala
* State Bank of Saurashtra
* State Bank of Travancore
* Bharatiya Mahila Bank

Rescued|

* Global Trust Bank (OBC)
* Lakshmi Vilas Bank (DBS)
* Nedungadi Bank (PNB)
* United Western Bank (IDBI)
* United Industrial Bank (Allahabad Bank)
* Punjab and Maharashtra Co-operative Bank (Unity SFB)

Acquired|

* Bank of Madura
* Bank of Rajasthan
* Bengal Central Bank
* Centurion Bank of Punjab
* Chartered Bank of India, Australia and China
* Grindlays Bank
* National Bank of India
* ING Vysya Bank
* Mercantile Bank of India, London and China
* Lord Krishna Bank
* Suvarna Sahakari Bank
* Times Bank
* Vysya Bank

| PSB|

* Bharat Overseas Bank
* Pandyan Bank

|

Wound up|

* Bank of Chettinad
* Dass Bank

Failed|

* Alliance Bank of Simla
* Arbuthnot & Co
* Commercial Bank of India
* Exchange Bank of India & Africa
* (New) Oriental Bank Corporation
* Oudh Commercial Bank
* Madhavpura Mercantile Cooperative Bank

Liquidated|

* Bengal Bank (1784)
* Bank of Bombay (1720)
* Bank of Hindostan
* General Bank of India
* General Bank of Bengal and Bihar
* Nath Bank
* Palai Central Bank
* The Commercial Bank (1819)
* The Calcutta Bank (1824)
* The Union Bank (1828)
* The Government Savings Bank (1833)
* The Bank of Mirzapore (1835)
* Travancore National and Quilon Bank

Networks|

| Interbank networks|

* Cirrus
* NFS
* PLUS

|

ATM networks|

* BANCS
* Cashnet
* CashTree
* MITR

Cards|

* Mastercard
* Debit Mastercard
* Maestro
* RuPay
* Visa
* Visa Debit
* Visa Electron

Online transfers|

* AEPS
* BBPS
* BHIM
* IMPS
* NEFT
* RTGS
* UPI

Payment service
providers|

* Atom
* BHIM
* BillDesk
* CCAvenue
* Paytm
* Sarvatra Technologies
* Zeta India

| Digital wallets|

* Amazon Pay
* BharatPe
* Freecharge
* Google Pay
* Mobikwik
* Payoneer
* PayU
* Payworld
* PhonePe

|

Related topics|

* ATM usage fees
* Bank run
* Black money
* Counterfeit money
* De-materialisation (de-mat)
* Demonetisation
* 2016
* Low denomination coins
* Foreign exchange (ForEx)

* Lists:  List of banks
* List of oldest banks in India

| Protocol
and codes|

* Bharat Bill Payment System (BBPS)
* Indian Financial System Code (IFSC)
* National Unified USSD Platform (NUUP)
* Structured Financial Messaging System (SFMS)

|

Rates &
ratios|

| Rates|

* Bank rate
* Mumbai Inter-Bank Bid Rate - MIBID/Mumbai Inter-Bank Offer Rate - MIBOR
* Mumbai Interbank Forward Offer Rate - MIFOR

|

Ratios|

* Capital Adequacy Ratio - CAR
* Statutory Liquidity Ratio - SLR
* Cash Reserve Ratio - CRR

Regulators|

* Insurance - IRDAI
* Banking - RBI
* Securities - SEBI
* Bankruptcy - IBBI

Insolvency,
bankruptcy and
reconstruction|

| Boards|

* BIFR
* IBBI
* CERSAI

|

Legislation|

* IBC
* SARFESI Act

Companies|

* ARCIL
* Edelweiss ARC
* IAMCL

Legislation|

* Banking Regulation Act, 1949
* Government Securities Act, 2006
* IBC, 2016
* RBI Act, 1934
* SARFESI Act, 2002
* Income-tax Act, 1961
* Companies Act, 2013
* Insurance Act, 1938
* FEMA, 1999
* RDDBFI, 1993

Tribunals|

* Company Law - NCLT
* Appellate - NCLAT
* Debt Recovery - DRT/Appellate - DRAT

Measures|

* Prompt Corrective Action

Other|

* Institute of Banking Personnel Selection
* Mumbai Consensus

* v
* t
* e

State Bank of India

Subsidiaries|

| India|

* SBI Card
* SBI General Insurance
* SBI Life Insurance Company
* SBI Capital Markets
* SBI Mutual Fund
* Yes Bank

|

International|

* PT Bank Indo Monex
* SBI Australia
* SBI Bangladesh
* SBI Baharain
* SBI Botswana
* SBI Canada Bank
* SBI China
* SBI (Mauritius) Limited
* Nepal SBI Bank Limited
* SBI Sri Lanka
* SBI South Korea
* SBI South Africa
* SBI UK Limited
* SBI USA

JVs|

* SBI Payments (76%) (JV with Hitachi Payments)

Predecessors|

* Imperial Bank of India (1921–1955)
* Bank of Calcutta (1806–1921)
* Bank of Bombay (1840–1921)
* Bank of Madras (1843–1921)

Major frauds|

* Rajkissore Dutt Case
* Nagarwala case

Mergers|

* State Bank of Bikaner & Jaipur (1963–2017)
* State Bank of Hyderabad (1941–2017)
* State Bank of Indore (1960–2010)
* State Bank of Mysore (1913–2017)
* State Bank of Patiala (1917–2017)
* State Bank of Saurashtra (1948–2008)
* State Bank of Travancore (1945–2017)
* Bharatiya Mahila Bank (2013–2017)

Investments|

* Jio Payments Bank (30%)
* Yes Bank (30%)
* Andhra Pradesh Grameena Vikas Bank (35%)
* Kaveri Grameena Bank (35%)

People|

| Chairperson|

* John Matthai (1955-1956)
* H. V. R. Iengar (1956-1957)
* P. C. Bhattacharya (1957-1968)
* Borra Venkatappaiah (1962-1965)
* V. T. Dehejia (1965-1969)
* Raj Kumar Talwar (1969-1976)
* T. R. Varadachary (1976-1977)
* P. C. D. Nambiar (1977-1982)
* V. S. Natarajan (1982-1983)
* R. P. Goyal (1983-1983)
* Vishwanath N. Nadkarni (1983-1984)
* D. N. Ghosh (1985-1989)
* Atal V. (1990-1990)
* M. N. Goiporia (1990-1992)
* Dipankar Basu (1993-1995)
* P. G. Kakodkar (1995-1997)
* M. S. Verma (1997-1998)
* M. P. Radhakrishnan (1998-1999)
* G. G. Vaidya (1999-2000)
* Janki Vallabh (2000-2002)
* Arun Kumar Purwar (2002-2006)
* O. P. Bhatt (2006-2011)
* Pratip Chaudhuri (2011-2013)
* Arundhati Bhattacharya (2013-2017)
* Rajnish Kumar (2017-2020)
* Dinesh Kumar Khara (2020–2024)
* Challa Sreenivasulu Setty (2024–present)

|

Current|

* Rama Mohan Rao Amara (SBI Cards)
* Prakash Chandra Kandpal (SBI General)
* Arun Mehta (SBICAPS)
* Mahesh Kumar Sharma (SBI Life)

CSR|

* SBI Foundation
* State Bank Archives and Museum

Mobile banking|

* YONO
* Yono Lite

Authority control databases

International|

* VIAF

National|

* United States

Other|

* Yale LUX

*[v]: View this template
*[t]: Discuss this template
*[e]: Edit this template