History of Banking
Banking · बैंकिंग का इतिहास · 16 facts
Bank of Hindustan (1770, Calcutta): FIRST bank in India, closed 1832
General Bank of India established in 1786 — second bank
Three Presidency Banks: Bengal (1806), Bombay (1840), Madras (1843)
Presidency Banks merged in 1921 to form Imperial Bank of India
Imperial Bank nationalized as SBI in 1955 (SBI Act 1955)
Allahabad Bank (1865): oldest surviving public sector bank (merged with Indian Bank)
Punjab National Bank (1894): FIRST Swadeshi bank of India
Swadeshi Movement boosted Indian banking — many banks established post-1906
RBI established 1935 (Hilton Young Commission); nationalized 1949
Banking Regulation Act 1949 gave RBI power to regulate all banks
Bank of Baroda, Central Bank of India, and Indian Bank — all founded pre-Independence
ATM first introduced in India by HSBC in 1987 in Mumbai
Internet Banking started in India by ICICI Bank in 1998
MICR technology introduced in Indian banking in 1986 for cheque clearing
Debit cards and credit cards became widespread in India from late 1990s
Jan Dhan Yojana launched 28 Aug 2014 — world largest financial inclusion scheme