Important Dates in Banking History of India

Timeline of Banking in India
1770	First bank was established at Cacutta under European Management.
1786	General Bank of India was set up.
2 June 1806	Bank of Calcutta was established in 1806; it was renamed in 1809 as Bank of Bengal
15 April 1840	Bank of Bombay established
1 July 1843	Bank of Madras established
1861	Paper Currency Act was enacted by British Government of India
1863	Oldest Joint Stock bank of India named Bank of Upper India was established.
1865	Allahabad Bank was established.
1881	Oudh Commercial Bank, the first Bank of India with Limited Liability to be managed by Indian Board was established at Faizabad
1895	Punjab National Bank was established. It was first bank purely managed by Indians.
1911	Central Bank of India, first Indian commercial bank which was wholly owned and managed by Indians, was established. It was called First Truly Swadeshi bank
1921	Three presidency banks viz. Bank of Calcutta, Bank of Bombay and Bank of Madras amalgamated to form Imperial Bank of India
1935	Creation of Reserve bank of India
1949	Nationalization of Reserve Bank of India
1949	Enactment of Banking Regulation Act
1955	Nationalization of Imperial Bank of India, which now became State Bank of India
1959	Nationalization of SBI Subsidiaries
1969	Nationalization of 14 major Banks
1971	Creation of Credit Guarantee Corporation
1975	Creation of Regional Rural Banks
1980	Nationalization of 7 more banks with deposits over Rs. 200 Crore