New Bank of India

Public sector bank in India(now defunct)

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New Bank of India was established in 1936, in Lahore by Mulk Raj Kohli, a professor of Economics turned banker. It moved its head office to Amritsar in 1947, and then to New Delhi in 1956. It acquired Didwana Industrial Bank in 1965, Chawla Bank in 1969, and Sahukara Bank in 1971. Earlier New Bank of India had acquired Punjab & Kashmir Bank.

* Didwana Industrial Bank had been established in 1925 in Didwana.
* Chawla Bank, which had been established in 1913, had its registered office in Bannu, North Western Frontier Province, and a branch office at Dehra Dun in the United Provinces. Ninety-five percent of its depositors and creditors migrated to India after Partition.
* Sahukara Bank, est. 1912 in Ludhiana, had branches in Pakistan that it lost at Partition.
* Lala Gokul Chand Suri founded Punjab & Kashmir Bank in 1912 in Delhi with operations in Rawalpindi.

The Government of India nationalized New Bank of India in 1980. Punjab National Bank acquired New Bank of India in 1993.[1][2]

## References

[edit]

1. ^ "Heritage". Punjab National Bank. Retrieved 27 May 2024.
2. ^ Parmatam Parkash Arya; B. B. Tandon (2003). Economic Reforms in India: From First to Second Generation and Beyond. Deep & Deep Publications. pp. 369–. ISBN 978-81-7629-435-5.

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Banking in India

Institutes|

| Central bank|

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Reserve Bank of India

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* Reserve Bank of India Act, 1934
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People|

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Kerala|

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Uttar Pradesh|

* Allahabad UP Gramin Bank
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Defunct banks|

| Merged|

| PSB|

* New Bank of India
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SBI|

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Rescued|

* Global Trust Bank (OBC)
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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
* Times Bank

| PSB|

* Bharat Overseas Bank
* Pandyan Bank

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Wound up|

* Bank of Chettinad
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Failed|

* Alliance Bank of Simla
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* (New) Oriental Bank Corporation
* Oudh Commercial Bank
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Liquidated|

* Bengal Bank (1784)
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Networks|

| Interbank networks|

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ATM networks|

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Cards|

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Online transfers|

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Payment service
providers|

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| Digital wallets|

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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
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| Protocol and codes|

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

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Rates and ratios|

* Mumbai Inter-Bank Bid Rate - MIBID/Mumbai Inter-Bank Offer Rate - MIBOR
* Mumbai Interbank Forward Offer Rate - MIFOR
* Statutory Liquidity Ratio - SLR
* Cash Reserve Ratio - CRR

Regulators|

* Insurance - IRDAI
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* Bankruptcy - IBBI

Insolvency, bankruptcy
and reconstruction|

| Boards|

* BIFR
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* CERSAI

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Legislation|

* IBC
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Companies|

* ARCIL
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Legislation|

* Banking Regulation Act, 1949
* Government Securities Act, 2006
* IBC, 2016
* NaBFID, 2021
* RBI Act, 1934
* SARFESI Act, 2002
* Income-tax Act, 1961
* Companies Act, 2013
* Insurance Act, 1938
* FEMA, 1999

Tribunals|

* Company Law - NCLT
* Appellate - NCLAT

Measures|

* Prompt Corrective Action

Other|

* Institute of Banking Personnel Selection
* Mumbai Consensus

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