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The Benares Bank
Company typePrivate sector
IndustryBanking, Insurance, Capital Markets and allied industries
Founded1 May 1844 (1844-05-01) as The Benares Bank
Defunct31 March 1850 (1850-03-31)
FateDefunct in 1850
Headquarters
Varanasi
,
India
Number of locations
United Provinces
Area served
India
ProductsDeposits, Personal Banking Schemes, C & I Banking Schemes, Agri Banking Schemes, SME Banking Schemes
ServicesBanking, Trade Finance

The Benares Bank (1844) was a bank founded in the year 1844 in British India. The bank became defunct in the year 1850 with the winding down of its operations. The bank was notable for being the twenty eighth oldest bank in India.[1][2]

History

Founding

The Benares Bank was founded in 1844 in Varanasi, India.[1][2]

The bank largely served the customers of the United Provinces, which today corresponds to the Uttar Pradesh state of India.[1][2]

Management

The bank was staffed by mostly British nationals who were drawn mainly from the East India Company.[3]

The bank was headquartered in the Varanasi city in the United Provinces.[1][2]

Final years

In 1849, the bank was on the verge of failure.[1][2]

The bank was finally closed in the year 1850.[1][2]

Legacy

The bank is notable for being the twenty eighth oldest bank in India.[4][5][6]

The bank played a key role in the history of Banking in India.[4][5][6]

See also

References

  1. ^ a b c d e f "The Constitution and History of the Benares Bank, Compiled from the Records. [With an Introduction by e. G. Dunbar and R. J. Debnam.]". 1849.
  2. ^ a b c d e f Cooke, Charles Northcote (1863). "The Rise, Progress, and Present Condition of Banking in India".
  3. ^ "Indian Columbus: The Banking Heritage Building of Madras". Indiancolumbus.blogspot.com. 7 January 2018.
  4. ^ a b "Reserve Bank of India - Museum". Rbi.org.in. 14 April 2015. Retrieved 15 February 2023.
  5. ^ a b Shrivastava, Mohan Prasad (2007). Banking Reforms and Globalisation - Mohan Prasad Shrivastava - Google Books. ISBN 9788131301593. Retrieved 15 February 2023.
  6. ^ a b "Read Rich: Currency Used In India". Readrich.blogspot.com. 12 September 2011. Retrieved 15 February 2023.

External links

Banking in India
Categories