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Dhaka Bank (19th Century)
The Dacca Bank was a bank founded in 1846 in Dhaka, in the then British India. The bank was the List of oldest banks in India, thirty second oldest bank in India. It is the very first private bank founded in the present day country of Bangladesh. History The bank was founded in 1846 in Dhaka by Khwaja Alimullah. He was a merchant and the largest and most influential zamindar in East Bengal. He also managed to maintain friendly relations with the British during the British Raj in India. The bank was started with a capital of four lakh rupees. After his death in 1954, Khwaja Alimullah was succeeded by his son Khwaja Abdul Ghani, who continued to manage the affairs of the bank. The directors of the bank were J P Wise, R J Carnegie, Nicholas Pogose, Babu Mirtunjoy Dutt, Babu Dinanath Ghosh, William Foley and G M Reilly. The bank was acquired by the Bank of Bengal in 1862. The last few branches of the bank were shut in 1877 and were gradually replaced by the branches of the Ban ... [...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] |
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] |
Insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms. Furthermore, it usually involves something in which the insured has an insurable interest established by o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital Markets
A capital market is a financial market in which long-term debt (over a year) or equity-backed securities are bought and sold, in contrast to a money market where short-term debt is bought and sold. Capital markets channel the wealth of savers to those who can put it to long-term productive use, such as companies or governments making long-term investments. Financial regulators like Securities and Exchange Board of India (SEBI), Bank of England (BoE) and the U.S. Securities and Exchange Commission (SEC) oversee capital markets to protect investors against fraud, among other duties. Transactions on capital markets are generally managed by entities within the financial sector or the treasury departments of governments and corporations, but some can be accessed directly by the public. As an example, in the United States, any American citizen with an internet connection can create an account with TreasuryDirect and use it to buy bonds in the primary market. However, sales to indi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Bengal
The Bank of Calcutta (a precursor to the present State Bank of India) was founded on 2 June 1806, mainly to fund General Arthur Wellesley's wars against Tipu Sultan and the Marathas. It was the tenth oldest bank in India and was renamed Bank of Bengal on 2 January 1809. History The bank opened branches at Rangoon (1861), Patna (1862), Mirzapur (1862), and Benares (1862). When it became known that the bank intended to open a branch at Dacca, negotiations began that resulted in Bank of Bengal in 1862 amalgamating The Dacca Bank (1846). A branch at Cawnpore followed. Famous Customers Among the bank's renowned customers were scholar and politician Dadabhai Naoroji, scientist Jagadish Chandra Bose, India's first President Rajendra Prasad, Nobel laureate Rabindranath Tagore, and educationalist Ishwar Chandra Vidyasagar. Work The bank was risk averse and would not lend for more than three months, leading to local businessmen, both British and Indian, launching private ba ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dhaka
Dhaka ( or ; , ), List of renamed places in Bangladesh, formerly known as Dacca, is the capital city, capital and list of cities and towns in Bangladesh, largest city of Bangladesh. It is one of the list of largest cities, largest and list of cities proper by population density, most densely populated cities in the world with a density of about 34,000 citizens per square kilometers within a total area of approximately 300 square kilometers. Dhaka is a megacity, and has a population of 10.2 million residents as of 2024, and a population of over 23.9 million residents in Greater Dhaka, Dhaka Metropolitan Area. It is widely considered to be the most densely populated built-up urban area in the world. Dhaka is an important cultural, economic, and scientific hub of Eastern South Asia, as well as a major list of largest cities in the Organisation of Islamic Cooperation member countries, Muslim-majority city. Dhaka ranks list of cities by GDP, third in South Asia and 39th in the worl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deposit (finance)
A deposit is the act of placing cash (or cash equivalent) with some entity, most commonly with a financial institution, such as a bank. The deposit is a credit for the party (individual or organization) who placed it, and it may be taken back (withdrawn) in accordance with the terms agreed at time of deposit, transferred to some other party, or used for a purchase at a later date. Deposits are usually the main source of funding for banks. Types Demand deposit A demand deposit is a deposit that can be withdrawn or otherwise debited on short notice. Transaction accounts (known as "checking" or "current" accounts depending on the country) can be used to pay other parties, while savings accounts are typically payable only to the depositor or another bank account, and may have limits on the frequency of withdrawal. Time deposit Deposits which are kept for any specific time period are called time deposit or often as term deposit. * Term deposit (or ''time deposit''), bear a fixed t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Personal Banking
Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking (corporate banking). Banking services which are regarded as retail include provision of savings and transactional accounts, mortgages, personal loans, debit cards, and credit cards. Retail banking is also distinguished from investment banking or commercial banking. It may also refer to a division or department of a bank which deals with individual customers. In the U.S., the term ''commercial bank'' is used for a ''normal'' bank to distinguish it from an investment bank. After the Great Depression, the Glass–Steagall Act restricted normal banks to banking activities, and investment banks to capital market activities. That distinction was repealed in the 1990s. Commercial bank can also refer to a bank or a division of a bank that deals mostly wit ... [...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] |
British India
The provinces of India, earlier presidencies of British India and still earlier, presidency towns, were the administrative divisions of British governance in South Asia. Collectively, they have been called British India. In one form or another, they existed between 1612 and 1947, conventionally divided into three historical periods: *Between 1612 and 1757, the East India Company set up "factories" (trading posts) in several locations, mostly in coastal India, with the consent of the Mughal emperors, Maratha Empire or local rulers. Its rivals were the merchant trading companies of Portugal, Denmark, the Netherlands, and France. By the mid-18th century three ''Presidency towns'': Madras, Bombay and Calcutta, had grown in size. *During the period of Company rule in India, 1757–1858, the Company gradually acquired sovereignty over large parts of India, now called "Presidencies". However, it also increasingly came under British government oversight, in effect sharing sovereig ... [...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] |
Khwaja Alimullah
Khwaja Alimullah (died 24 August 1854) was the first Nawab of Dhaka. He was the founder of the Dhaka Nawab family. Alimullah was the nephew and heir of the merchant prince Khwaja Hafizullah, son of Khwaja Ahsanullah, and father of Khwaja Abdul Ghani, the first Nawab of Dhaka to be recognised by the British Raj. Background The ancestors of the Khwajas were said to have been traders of gold dust and leather in Kashmir. The earliest founder of the Dhaka Nawab Estate is Khwaja Hafizullah, who upheld the family tradition and made his fortune in trade and commerce. Leather and salt were the major items of his business. In collaboration with the European merchants in Dhaka, he developed a flourishing business in hides, skins, salt and spices. Early life Hafizullah raised Alimullah, following the early death of Ahsanulla (his brother and Alimullah's father) in 1795, and groomed him as an estate manager. Alimullah took major responsibilities in Hafizullah's business. The enterpris ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
