Banking –Misc. Important Facts

                       PointsInformation
Oldest bank but liquidatedBank of Hindustan(1770-1832) General Bank of India(1786-1791)
Oldest Bank in continuous operationState Bank of India(Since 1806).
Largest BankState Bank of India
Three Presidency banksThese were started by British as quasi central banks in India. Bank of Calcutta Bank of Bombay Bank of Madras. 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 CountryAllahabad Bank(1865) Crossed 150 years.
Oldest Joint Stock bank of India but failedBank of Upper India(1863 – 1913).
First Bank of India with Limited Liability to be managed by Indian BoardOudh Commercial Bank(1881-1958)
First bank purely managed by IndianPunjab National Bank(1895)
First Indian commercial bank which was wholly owned and managed by IndiansCentral Bank of India(1911)
Creation of Reserve bank of India1935
Nationalization of the Imperial Bank of India1955 through SBI Act.
Enactment of Banking Regulation Act1949 
Nationalization of SBI Subsidiaries1959
Nationalization of 14 major private commercial banks1969
Creation of Credit Guarantee Corporation1971
Creation of Regional Rural Banks1975
First Indian bank to open a branch outside IndiaBank of India in London in 1946 and  also the first to open a branch in continental Europe at Paris in 1974.
Second phase of nationalization1980(6 more banks were nationalized).

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