https://en.bharatpedia.org/w/index.php?action=history&feed=atom&title=Carnatic_BankCarnatic Bank - Revision history2026-10-21T15:06:05ZRevision history for this page on the wikiMediaWiki 1.43.6https://en.bharatpedia.org/w/index.php?title=Carnatic_Bank&diff=492901&oldid=prevIQOCharli56: Started new data and citations2025-07-30T22:47:11Z<p>Started new data and citations</p>
<p><b>New page</b></p><div>{{Use Indian English|date=May 2021}}<br />
{{Use dmy dates|date=May 2021}}<br />
{{Infobox company<br />
| name = Carnatic Bank<br />
| logo = <br />
| native_name = <br />
| type = [[Private sector]]<br />
| industry = [[Financial services]]<br />
| fate = Merged with the [[Bank of Madras]]<br />
| successor = [[Bank of Madras]]<br />
| foundation = {{Start date|1788|04|01|df=yes}} (as The Bengal Bank)<br />
| founder = [[Josias Porcher]]<br />
| defunct = {{End date|df=yes|1843|03|31}}<br />
| location_city = [[Chennai]]<br />
| location_country = [[India]]<br />
| area_served = [[Madras Presidency]] in [[India]]<br />
| key_people = [[Josias Porcher]]<br />
| products = [[Deposit (finance)|Deposits]], [[Personal banking|Personal Banking Schemes]], C & I Banking Schemes, Agri Banking Schemes, [[Small and medium enterprises|SME Banking Schemes]]<br />
| services = [[Banking]], [[Insurance]], [[Capital Markets]] and allied industries<br />
| num_employees = <br />
| parent = [[State Bank of India]]<br />
}}<br />
The '''Carnatic Bank''' was an Indian [[bank]] founded in the year 1788 in [[Company rule in India|British India]]. The bank was the [[List of oldest banks in India|seventh oldest bank in India]].<ref name="auto1">{{Cite web|url=https://rbi.org.in/scripts/ms_banks.aspx|title=Reserve Bank of India – Museum|website=rbi.org.in}}</ref> The bank was eventually merged with the [[Bank of Madras]] in 1843.<ref name="auto">{{Cite web|url=http://madrasmusings.com/Vol%2020%20No%206/madras-oldest-bank.html|title=Madras Musings – We care for Madras that is Chennai}}</ref><br />
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== History ==<br />
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=== Founding === <br />
The Carnatic Bank was the very first bank founded in the [[Madras Presidency]] and served many cities in South India.<ref name="auto2">{{Cite news|url=https://www.thehindu.com/features/metroplus/society/Before-Madras/article14583548.ece|title=Before Madras|newspaper=The Hindu|date=22 August 2016|via=www.thehindu.com}}</ref><br />
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The founders of the bank were [[Josias Porcher]] and Thomas Redhead. Both were European merchants from Calcutta.<ref>{{Cite web|url=https://books.google.com/books?id=h2nkEiSSDaYC&q=thomas+redhead++carnatic+bank&pg=PA422|title = Indian Records Series Vestiges of Old Madras|last1 = Love|first1 = Henry Davidson}}</ref><br />
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=== Management ===<br />
The bank was staffed by mostly British nationals who were drawn mainly from the [[East India Company]].<ref>{{Cite web|url=https://indiancolumbus.blogspot.com/2018/01/SBIRajajiSalai.html|title=The Banking Heritage Building of Madras}}</ref> The bank had most of its offices and branches in the [[Madras Presidency]].<ref name="auto2"/><br />
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=== Final years ===<br />
The bank was one of four banks that were merged to form the [[Bank of Madras]] in 1843: the Madras Bank, the Carnatic Bank, [[The British Bank of Madras (1795)]], and the Asiatic Bank (1804). The [[Bank of Madras]] is one of the precursors of the [[Imperial Bank of India]] and eventually the [[State Bank of India]].<ref name="auto2"/><br />
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== Legacy ==<br />
The bank is notable for being the [[List of oldest banks in India|seventh oldest bank in India]].<ref name="auto1"/><br />
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The bank is also notable for being one of [[List of banks that have merged to form the State Bank of India|the precursors of the State Bank of India]], through its predecessors the [[Imperial Bank of India]] and the [[Bank of Madras]].<ref name="auto"/><br />
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==See also==<br />
{{Portal|Banks}}<br />
*[[Indian banking]]<br />
*[[List of banks in India]]<br />
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==References==<br />
{{Reflist}}<br />
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==External links==<br />
* [https://rbi.org.in/scripts/ms_banks.aspx Oldest Banks in India]<br />
* [http://madrasmusings.com/Vol%2020%20No%206/madras-oldest-bank.html History of the Bank]<br />
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{{Banking in India}}<br />
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{{Authority control}}<br />
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{{DEFAULTSORT:Carnatic Bank}}<br />
[[Category:Defunct banks of India]]<br />
[[Category:Financial services companies based in Chennai]]<br />
[[Category:Banks established in 1788]]</div>IQOCharli56