Oudh Commercial Bank or Awadh Commercial Bank was an Indian

bank 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 m ...

established in 1881, in

Faizabad Faizabad (Hindustani pronunciation: ɛːzaːbaːd is a city located in Ayodhya district in the Indian state of Uttar Pradesh. It is situated on the southern bank of the River Saryu about 6.5 km from Ayodhya City, the district headquarter, ...

and operated until 1958, when it failed. It was the first commercial bank in India having limited liability and an entirely Indian board of directors. It was a small bank that had no branches and that served only local needs.

History

Before it failed it acquired the Bank of Rohilkund (or Bank of Rohilkhand), which Sir Yusef Ali Khan, Nawab of Rampur (1832–1887), had promoted over the objection of local moneylenders.''Indian Journal of History of Science'', 1982, Volumes 17-18, p.112. Bank of Rohilkund was established in 1862, just after the acceptance of limited liability for banks. Bank of Rohilkund was the first promoted by a princely state; it too was a small bank.

Citations and references

{{Banking in India Defunct banks of India Banks established in 1881 1881 establishments in India Awadh Economic history of Uttar Pradesh