History of banking in India

Answer 1

There were many indigenous bankers even during ancient times like the Shroffs, Mahajans, etc. The first bank was The Bank of Hindus than started in 1770 at Calcutta. In 1786, The General Bank of India was started. Three Presidency banks were also started as quasi central banks. The Bank of Calcutta was established in 1806. The Allahabad Bank which exists even today was started in 1865. It is also one of the earliest Joint Stock Bank of India. The first commercial bank in India was the Central Bank of India in 1911.