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Bank Of Hindostan
of Hindostan (1770–1832), a now defunct bank, was the third oldest bank in Indian region. History It was established by the agency house of Alexander and Company. The Bank lived through three economic crises of the 19th century: * The Recession of 1819 * The failure of Palmer and Co., a British agency house * The Banking Crisis of 1832 Business Activities In India, the paper currency was first issued during British East India Company The East India Company (EIC) was an English, and later British, joint-stock company that was founded in 1600 and dissolved in 1874. It was formed to Indian Ocean trade, trade in the Indian Ocean region, initially with the East Indies (South A ... rule. The first paper notes were issued by the private banks such as Bank of Hindostan and the presidency banks during late 18th century. Via the Paper Currency Act of 1861, the British Government of India was conferred the monopoly to issue paper notes in India. It was liquidate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Sector
The public sector, also called the state sector, is the part of the economy composed of both public services and public enterprises. Public sectors include the public goods and governmental services such as the military, law enforcement, public infrastructure, public transit, public education, along with public health care and those working for the government itself, such as elected officials. The public sector might provide services that a non-payer cannot be excluded from (such as street lighting), services which benefit all of society rather than just the individual who uses the service. Public enterprises, or state-owned enterprises, are self-financing commercial enterprises that are under public ownership which provide various private goods and services for sale and usually operate on a commercial basis. Organizations that are not part of the public sector are either part of the private sector or voluntary sector. The private sector is composed of the economic sec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1832 Disestablishments In India
Year 183 ( CLXXXIII) was a common year starting on Tuesday of the Julian calendar. At the time, it was known in Rome as the Year of the Consulship of Aurelius and Victorinus (or, less frequently, year 936 ''Ab urbe condita''). The denomination 183 for this year has been used since the early medieval period, when the Anno Domini calendar era became the prevalent method in Europe for naming years. Events By place Births * January 26 – Lady Zhen, wife of the Cao Wei state Emperor Cao Pi (d. 221) * Hu Zong, Chinese general, official and poet of the Eastern Wu state (d. 242) * Liu Zan (Zhengming), Chinese general of the Eastern Wu state (d. 255) * Lu Xun, Chinese general and politician of the Eastern Wu state (d. 245 __NOTOC__ Year 245 ( CCXLV) was a common year starting on Wednesday of the Julian calendar. At the time, it was known as the Year of the Consulship of Philippus and Titianus (or, less frequently, year 998 ''Ab urbe condita''). The denomination ...) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Established In 1770
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. As banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional-reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but, in many ways, functioned as a continuation of ideas and concepts of credit and lending that had their roots in the ancien ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1770 Establishments In India
Year 177 ( CLXXVII) was a common year starting on Tuesday of the Julian calendar. At the time, it was known as the Year of the Consulship of Commodus and Plautius (or, less frequently, year 930 ''Ab urbe condita''). The denomination 177 for this year has been used since the early medieval period, when the Anno Domini calendar era became the prevalent method in Europe for naming years. Events By place Roman Empire * Lucius Aurelius Commodus Caesar (age 15) and Marcus Peducaeus Plautius Quintillus become Roman Consuls. * Commodus is given the title ''Augustus'', and is made co-emperor, with the same status as his father, Marcus Aurelius. * A systematic persecution of Christians begins in Rome; the followers take refuge in the catacombs. * The churches in southern Gaul are destroyed after a crowd accuses the local Christians of practicing cannibalism. * Forty-eight Christians are martyred in Lyon (Saint Blandina and Pothinus, bishop of Lyon, are among them). [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Banks In India
This is a list of banks which are considered to be Scheduled Banks under the second schedule of RBI Act, 1934. As of 1st May 2025, India's commercial banking sector consist of 12 public sector banks (PSBs), 21 private sector banks (PVBs), 44 foreign banks (FBs), 11 SFBs, 5 PBs, 28 RRBs, and 2 LABs, 4 Financial Institutions. Out of these 128 commercial banks, 124 are classified as scheduled banks, while four are non-scheduled. Commercials banks Public Sector Banks (PSBs) There are 12 public sector banks in India as of 1st April 2025. Private Sector Banks '' Private sector banks are banks where the majority of the bank's equity is owned by a private company or a group of individuals. They comply with the central bank guidelines yet have a unique financial system.'' There are 21 private banks in India as of 1st April 2025. Regional Rural Banks (RRBs) There are 28 regional rural banks in India as of 1st May 2025. Co-operative banks State Co-operative Banks ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Indian Banking
Modern banking in India originated in the mid of 18th century. Among the first banks were the Bank of Hindustan, which was established in 1770 and liquidated in 1829–32; and the General Bank of India, established in 1786 but failed in 1791. The largest and the oldest bank which is still in existence is the State Bank of India (SBI). It originated and started working as the Bank of Calcutta in mid-June 1806. In 1809, it was renamed as the Bank of Bengal. This was one of the three banks founded by a presidency government, the other two were the Bank of Bombay in 1840 and the Bank of Madras in 1843. The three banks were merged in 1921 to form the Imperial Bank of India, which upon India's independence, became the State Bank of India in 1955. For many years, the presidency banks had acted as quasi-central banks, as did their successors, until the Reserve Bank of India was established in 1935, under the Reserve Bank of India Act, 1934. In 1960, the State Banks of India was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Paper Currency Act, 1861
The Paper Currency Act, 1861 is an act in India dating from the British colonial rule, that is currently no longer in force. Background Before the passing of the Act, there were a number of commercial banks in India which issued their own banknotes to the general public. Some of these commercial banks included: * The General Bank of Bengal and Bihar * The Bank of Hindostan, which had been set up by the Alexander and Co. agency house The East India Company, which then ruled over large parts of India, wanted to take away this power of issuing banknotes from the commercial banks, as a result of which The Paper Currency Act, 1861 was enacted into law. Tenets and Precepts After the enactment of the Act, the East India Company government became the sole issuer of banknotes in India. The three Presidency Banks of India became the issuer of banknotes on the behalf of the East India Company: * Bank of Calcutta * Bank of Bombay * Bank of Madras Repealment Just a few years ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
East India Company
The East India Company (EIC) was an English, and later British, joint-stock company that was founded in 1600 and dissolved in 1874. It was formed to Indian Ocean trade, trade in the Indian Ocean region, initially with the East Indies (South Asia and Southeast Asia), and later with East Asia. The company gained Company rule in India, control of large parts of the Indian subcontinent and British Hong Kong, Hong Kong. At its peak, the company was the largest corporation in the world by various measures and had its own armed forces in the form of the company's three presidency armies, totalling about 260,000 soldiers, twice the size of the British Army at certain times. Originally Chartered company, chartered as the "Governor and Company of Merchants of London Trading into the East-Indies," the company rose to account for half of the world's trade during the mid-1700s and early 1800s, particularly in basic commodities including cotton, silk, indigo dye, sugar, salt, spices, Potass ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Palmer And Company
Palmer may refer to: People and fictional characters * Palmer (pilgrim), a medieval European pilgrim to the Holy Land * Palmer (given name), including a list of people and fictional characters * Palmer (surname), including a list of people and fictional characters Arts and entertainment * ''Palmer'' (film), a 2021 American drama film * Palmer Museum of Art, the art museum of Pennsylvania State University Places * Palmer River (other) * Mount Palmer (other) Antarctica * Palmer Inlet, Palmer Land * Palmer Land, a portion of the Antarctic Peninsula * Palmer Peninsula, former American name of the Antarctic Peninsula Australia * Palmer, Queensland, a locality * Palmer, South Australia, a town * Palmer, Western Australia, a locality in the Shire of Collie * Palmer River (Northern Territory), a tributary of the Finke River * Palmer River, Queensland Canada * Palmer, Ontario, Canada, a community in Burlington * Palmer, Saskatchewan, an unorganized hamlet * Palme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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. Locations of headquarters The below cities are frequently listed among the headquarters of the banks mentioned in the above table. See also * History of banking * Banking in India * List of oldest companies The oldest companies in the world are the brands and companies which remain operating (either in whole or in part) since ince ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking
A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. As banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of Bank regulation, regulation over banks. Most countries have institutionalized a system known as fractional-reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure accounting liquidity, liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but, in many ways, functioned as a continuation of ideas and concepts o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
