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 |
Important Dates in Banking History of India
Saturday, May 20, 2017
0
Tags