Histopedia

The first bank in India is a matter of some debate. The Madras Bank, established in 1683, and the Bank of Bombay, founded in 1720, are often cited as among the oldest banks in India ¹. However, the Bank of Hindustan, established in 1770 in Calcutta, is also considered one of the first banks in India ² ³.

The Bank of Hindustan was followed by other banks, including the General Bank of India (1786-1791), the Bank of Bengal (1809), the Bank of Bombay (1840), and the Bank of Madras (1843) ². These three banks were later merged to form the Imperial Bank of India in 1921, which eventually became the State Bank of India (SBI) in 1955 ² ³.

Some of the Oldest Banks in India:

• The Madras Bank (1683)
• The Bank of Bombay (1720)
• The Bank of Hindustan (1770)
• The General Bank of India (1786)
• The Bank of Bengal (1809)

Today, the State Bank of India (SBI) is the oldest bank still in operation, with its origins dating back to the Bank of Calcutta in 1806.