Bank |
Fact |
Oldest bank but liquidated |
Bank of Hindustan(1770-1832) General Bank of India(1786-1791) |
Oldest Bank in continuous operation |
State Bank of India(Since 1806). |
Largest Bank |
State Bank of India |
Three Presidency banks |
These were started by British as quasi central banks in India.
In 1921 these 3 banks merged into Imperial Bank of India and after India’s Independence in 1955, it was finally renamed into State Bank of India. |
Oldest Public Sector Bank & Oldest Joint Stock Bank of the Country |
Allahabad Bank(1865) Crossed 150 years. |
Oldest Joint Stock bank of India but failed |
Bank of Upper India(1863 - 1913). |
First Bank of India with Limited Liability to be managed by Indian Board |
Oudh Commercial Bank(1881-1958) |
First bank purely managed by Indian |
Punjab National Bank(1895) |
First Indian commercial bank which was wholly owned and managed by Indians |
Central Bank of India(1911) |
Creation of Reserve bank of India |
1935 |
Nationalization of the Imperial Bank of India |
1955 through SBI Act. |
Enactment of Banking Regulation Act |
1949 |
Nationalization of SBI Subsidiaries |
1959 |
Nationalization of 14 major private commercial banks |
1969 |
Creation of Credit Guarantee Corporation |
1971 |
Creation of Regional Rural Banks |
1975 |
First Indian bank to open a branch outside India |
Bank of India in London in 1946 and also the first to open a branch in continental Europe at Paris in 1974. |
Second phase of nationalization |
1980(6 more banks were nationalized). |