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Bengal Bank
The Bengal Bank was a bank founded in 1784 in British India. The bank was the fifth oldest bank in India. The bank became defunct on March 31, 1791. History Founding The bank was established in 1784 by private entrepreneurs. The bank has played a major role in the early economic history of East Bengal and Bangladesh. Management Although the bank was largely a private bank, it enjoyed patronage from the then government of India, the East India Company. The bank was staffed by mostly British nationals who were drawn mainly from the East India Company. The bank had most of its offices and branches in East Bengal, which is present day Bangladesh. Final years The bank lasted in business for only seven years and was finally closed in 1791. The bank also issued its own currency notes in its seven years of existence. Legacy The bank is notable for being the fifth oldest bank in India. It is also notable for being one of the first institutions in India to issue ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Private Sector
The private sector is the part of the economy which is owned by private groups, usually as a means of establishment for profit or non profit, rather than being owned by the government. Employment The private sector employs most of the workforce in some countries. In private sector, activities are guided by the motive to earn money, i.e. operate by capitalist standards. A 2013 study by the International Finance Corporation (part of the World Bank Group) identified that 90 percent of jobs in developing countries are in the private sector. Diversification In free enterprise countries, such as the United States, the private sector is wider, and the state places fewer constraints on firms. In countries with more government authority, such as China, the public sector makes up most of the economy. Regulation States legally regulate the private sector. Businesses operating within a country must comply with the laws in that country. In some cases, usually involving multinati ... [...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] |
Defunct Banks Of India
{{Disambiguation ...
Defunct may refer to: * ''Defunct'' (video game), 2014 * Zombie process or defunct process, in Unix-like operating systems See also * * :Former entities * End-of-life product * Obsolescence Obsolescence is the process of becoming antiquated, out of date, old-fashioned, no longer in general use, or no longer useful, or the condition of being in such a state. When used in a biological sense, it means imperfect or rudimentary when comp ... [...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] |
Bangladesh
Bangladesh, officially the People's Republic of Bangladesh, is a country in South Asia. It is the List of countries and dependencies by population, eighth-most populous country in the world and among the List of countries and dependencies by population density, most densely populated with a population of over 171 million within an area of . Bangladesh shares land borders with India to the north, west, and east, and Myanmar to the southeast. It has a coastline along the Bay of Bengal to its south and is separated from Bhutan and Nepal by the Siliguri Corridor, and from China by the List of Indian states, Indian state of Sikkim to its north. Dhaka, the capital and list of cities and towns in Bangladesh, largest city, is the nation's political, financial, and cultural centre. Chittagong is the second-largest city and the busiest port of the country. The territory of modern Bangladesh was a stronghold of many List of Buddhist kingdoms and empires, Buddhist and List of Hindu empir ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
East Bengal
East Bengal (; ''Purbô Bangla/Purbôbongo'') was the eastern province of the Dominion of Pakistan, which covered the territory of modern-day Bangladesh. It consisted of the eastern portion of the Bengal region, and existed from 1947 until 1955, when it was renamed as East Pakistan. East Bengal had a coastline along the Bay of Bengal to the south, and bordered India to the north, west, and east and shared a small border with Burma (presently known as Myanmar) to the southeast. It was situated near, but did not share a border with Nepal, Tibet, the Kingdom of Bhutan and the Kingdom of Sikkim. Its capital was Dacca, now known as Dhaka. The Partition of India, which Partition of Bengal (1947), divided Bengal along religious lines, established the borders of the Muslim-majority area of East Bengal. The province existed during the reign of two monarchs, George VI and Elizabeth II; and three Governor General of Pakistan, governors-general, Muhammad Ali Jinnah, Khawaja Nazimuddin and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Company Rule In India
Company rule in India (also known as the Company Raj, from Hindi , ) refers to regions of the Indian subcontinent under the control of the British East India Company (EIC). The EIC, founded in 1600, established its first trading post in India in 1612, and gradually expanded its presence in the region over the following decades. During the Seven Years' War, the East India Company began a process of rapid expansion in India, which resulted in most of the subcontinent falling under its rule by 1857, when the Indian Rebellion of 1857 broke out. After the rebellion was suppressed, the Government of India Act 1858 resulted in the EIC's territories in India being administered by the Crown instead. The India Office managed the EIC's former territories, which became known as the British Raj. The range of dates is taken to have commenced either in 1757 after the Battle of Plassey, when the Nawab of Bengal Siraj ud-Daulah was defeated and replaced with Mir Jafar, who had the support of ... [...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] |
Small And Medium Enterprises
Small and medium-sized enterprises (SMEs) or small and medium-sized businesses (SMBs) are businesses whose personnel and revenue numbers fall below certain limits. The abbreviation "SME" is used by many national agencies and international organizations such as the World Bank, the OECD, European Union, the United Nations, and the World Trade Organization (WTO). In any given national economy, SMEs outnumber large companies by a wide margin and also employ many more people. On a global scale, SMEs make up 90% of all companies and more than 50% of all employment. For example, in the EU, 99% of all businesses are SMEs. Australian SMEs makeup 98% of all Australian businesses, produce one-third of the total GDP (gross domestic product) and employ 4.7 million people. In Chile, in the commercial year 2014, 98.5% of the firms were classified as SMEs. In Tunisia, the self-employed workers alone account for about 28% of the total non-farm employment, and firms with fewer than 100 employees acco ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
