List of oldest banks in India

This list of the oldest banks in Indian subcontinent includes financial institutions that were founded in the 18th and 19th centuries. Listed are the forty oldest banks in India, which includes all financial institutions founded prior to 1850.

The oldest bank in India is The Madras Bank (1683), followed by the Bank of Bombay, founded in 1720, which is then followed by the Bank of Hindustan, founded in 1770.

Imperial Bank of India was succeeded by State Bank of India in 1955 and State Bank of Pakistan in 1948 respectively whose origins can be traced back to the Bank of Calcutta. It was founded in 1806, though the tenth to be founded.[1][2]

Rank | Name of bank | Year of founding | Year of closing | Present status | Headquartered in | References[3]

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|
|
|
|
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1 | The Madras Bank (1683) | 1683 | 1843 | Merged to form Bank of Madras, presently the State Bank of India | Madras Presidency | [4][2][5]
2 | Bank of Bombay | 1720 | 1770 | Defunct | Bombay | [2][4][5]
3 | Bank of Hindustan | 1770 | 1832 | Defunct | Calcutta | [2][4][5]
4 | General Bank of Bengal and Bihar | 1773 | 1775 | Defunct | Calcutta | [2][4][5]
5 | Bengal Bank | 1784 | 1791 | Defunct | Calcutta | [2][4][5]
6 | General Bank of India | 1786 | 1791 | Defunct | Calcutta | [2][4][5]
7 | Carnatic Bank | 1788 | 1843 | Merged to form Bank of Madras, presently the State Bank of India | Madras Presidency | [2][4][5]
8 | British Bank of Madras | 1795 | 1843 | Merged to form Bank of Madras, presently the State Bank of India | Madras Presidency | [2][4][5]
9 | The Asiatic Bank (1804) | 1804 | 1843 | Merged to form Bank of Madras, presently the State Bank of India | Madras Presidency | [2][4][5]
10 | Bank of Calcutta | 1806 | 1921 | Merged with the Imperial Bank of India, presently the State Bank of India | Calcutta | [2][4][5]
11 | The Commercial Bank | 1819 | 1828 | Merged with The Calcutta Bank to form The Union Bank | Calcutta | [2][4][5]
12 | The Calcutta Bank | 1824 | 1828 | Merged with The Commercial Bank to form The Union Bank | Calcutta | [2][4][5]
13 | The Bank of India | 1828 | 1829 | Defunct | Calcutta | [2][4][5]
14 | The Union Bank | 1828 | 1848 | Defunct | Calcutta | [2][4][5]
15 | The Government Savings Bank | 1833 | 1843 | Defunct | Calcutta | [2][4][5]
16 | The Agra & United Service Bank | 1833 | 1866 | Defunct | Agra | [2][4][5]
17 | The Bank of Mirzapore | 1835 | 1837 | Defunct | Mirzapur | [2][4][5]
18 | Bank of India (London) | 1836 | 1836 | Defunct | Calcutta | [2][4][5]
19 | The North Western Bank of India | 1840 | 1859 | Defunct | Mussoorie | [2][4][5]
20 | Bank of Bombay | 1840 | 1921 | Merged with the Imperial Bank of India, presently the State Bank of India | Bombay | [2][4][5]
21 | Bank of Asia | 1841 | 1842 | Defunct | London | [2][4][5]
22 | The Bank of Ceylon | 1841 | 1849 | Merged with the Oriental Bank Corporation | Colombo | [2][4][5]
23 | The East India Bank (1842) | 1842 | 1842 | Defunct | London | [2][4][5]
24 | The Oriental Bank Corporation | 1842 | 1884 | Defunct | Bombay | [2][4][5]
25 | The Agra Savings Fund | 1842 | 1863 | Defunct | Agra | [2][4][5]
26 | The Bank of Madras | 1843 | 1921 | Merged with the Imperial Bank of India, presently the State Bank of India | Madras Presidency | [2][4][5]
27 | Delhi Bank Corporation | 1844 | 1916 | Merged with the Alliance Bank of Simla | Delhi | [2][4][5]
28 | The Benares Bank | 1844 | 1850 | Defunct | Benares | [2][4][5]
29 | The Simla Bank Limited | 1844 | 1893 | Defunct | Shimla | [2][4][5]
30 | The Commercial Bank of India | 1845 | 1866 | Defunct | Bombay | [2][4][5]
31 | The Cawnpore Bank | 1845 | 1852 | Defunct | Kanpur | [2][4][5]
32 | The Dacca Bank | 1846 | 1862 | Merged with the Bank of Bengal, presently State Bank of India | Dhaka | [2][4][5]
33 | The London Bank of Australia and India | 1852 | 1852 | Defunct | Agra | [2][4][5]
34 | Chartered Bank of Asia | 1852 | 1855 | Defunct | London | [2][4][5]
35 | Chartered Mercantile Bank of India, London & China | 1853 | 1853 | Defunct | London | [2][4][5]
36 | Chartered Bank of India, Australia and China | 1853 | 1853 | Defunct | London | [2][4][5]
37 | The London and Eastern Banking Corporation | 1854 | 1857 | Defunct | London | [2][4][5]
38 | The Comptoir D'Escompte of Paris | 1854 | 1854 | Defunct | Paris | [2][4][5]

## Locations of headquarters

[edit]

The below cities are frequently listed among the headquarters of the banks mentioned in the above table.

Rank | Name of city | Number of ancient banks headquartered

|
|

1 | Calcutta | 11
2 | London | 6
3 | Madras | 5
4 | Bombay | 4
5 | Agra | 3

## See also

[edit]

* History of banking
* Banking in India
* List of oldest companies
* List of oldest companies in India
* Lindy effect

## References

[edit]

1. ^ "The Evolution of Banking in India". 3 December 2018. Archived from the original on 23 May 2021. Retrieved 23 May 2021.
2. ^ a b c d e f g h i j k l m n o p q r s t u v w x y z aa ab ac ad ae af ag ah ai aj ak al am "Issuing Currency Notes & Rehabilitation of the Banking System". 2016.
3. ^ "The World's Biggest Employers". Forbes. Archived from the original on 26 June 2015. Retrieved 31 July 2015.
4. ^ a b c d e f g h i j k l m n o p q r s t u v w x y z aa ab ac ad ae af ag ah ai aj ak al "Reserve Bank of India - Museum". rbi.org.in. Archived from the original on 20 October 2021. Retrieved 22 May 2021.
5. ^ a b c d e f g h i j k l m n o p q r s t u v w x y z aa ab ac ad ae af ag ah ai aj ak al Shrivastava, Mohan Prasad (2007). Banking Reforms and Globalisation. APH. ISBN 9788131301593. Archived from the original on 2 August 2023. Retrieved 10 April 2022.

## External links

[edit]

* List maintained by the Reserve Bank of India
* Evolution of Banking in India
* Charles Northcote Cooke
* History of Banking in India

* 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

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