This list of the oldest banks in India includes financial institutions that were founded in the 18th and 19th centuries. Listed are the thirty oldest banks in India, which includes all financial institutions founded prior to 1850.
The oldest bank in India is
The Madras Bank (1683)
The Madras Bank (1683) was a bank founded in the year 1683 in British India. The bank was the oldest bank in India.
The bank was eventually merged with the Bank of Madras in 1843.
History Founding
The Madras Bank (1683) was founded on 2 ...
, followed by the
Bank of Bombay
The Bank of Bombay was the second of the three presidency banks (others being the Bank of Calcutta and the Bank of Madras) of the Raj period. It was established, pursuant to a charter of the British East India Company, on 15 April 1840.
The b ...
, founded in 1720, which is then followed by the
Bank of Hindustan, founded in 1770.
The oldest bank still in operation is the
State Bank of India
State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra. SBI is the 49th largest bank in the world by total assets and ranked 221st in the ''Fortune ...
, whose origins can be traced back to the
Bank of Calcutta
The Bank of Calcutta (a precursor to the present State Bank of India) was founded on 2 June 1806, mainly to fund General Wellesley's wars against Tipu Sultan and the Marathas. It was the first bank of India and was renamed Bank of Bengal on ...
, 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
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History of banking
The history of banking began with the first prototype banks, that is, the merchants of the world, who gave grain loans to farmers and traders who carried goods between cities. This was around 2000 BCE in Assyria, India and Sumeria. Later, in anci ...
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Banking in India
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. ...
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List of oldest companies
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List of oldest companies in India
This list of oldest companies in India includes brands and companies, excluding associations and educational, governmental, or religious organisations. To be listed, a brand or company name must remain, either in whole or in part, since inception ...
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Lindy effect
The Lindy effect (also known as Lindy's Law) is a theorized phenomenon by which the future life expectancy of some non-perishable things, like a technology or an idea, is proportional to their current age. Thus, the Lindy effect proposes the longe ...
References
External links
List maintained by the Reserve Bank of IndiaEvolution of Banking in IndiaCharles Northcote CookeHistory of Banking in India
{{DEFAULTSORT:India oldest banks
Economy-related lists of superlatives
Lists of banks
History of banking
Banks
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.
Becaus ...
Lists of companies of India
Lists of longest-duration things
Banks of India
Financial history of India