https://en.bharatpedia.org/w/index.php?action=history&feed=atom&title=Nedungadi_BankNedungadi Bank - Revision history2026-09-07T16:37:44ZRevision history for this page on the wikiMediaWiki 1.43.6https://en.bharatpedia.org/w/index.php?title=Nedungadi_Bank&diff=241894&oldid=prev->RandomEditorAAA: I rewrote the article and added sources2021-07-11T17:02:15Z<p>I rewrote the article and added sources</p>
<p><b>New page</b></p><div>{{Use dmy dates|date=October 2015}}<br />
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'''Nedungadi Bank''' is the first private sector commercial bank to be set up in South India. It was established in 1899<ref>{{cite book |title= Banking India, Accepting Deposits for the Purpose of Lending |last1=Krishnan |first1=Harihara |date=2017}}</ref> in [[Calicut]], [[Kerala]] by [[Appu Nedungadi]].<ref>Know Them: One answer to many questions - Page 14, by Akhila E K, 2017.</ref> <br />
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The bank was incorporated on 29 May 1913.<ref>Statistical Tables Relating to Banks in India - Page 78, by The Reserve Bank of India, 1978.</ref><br />
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In 1964, the Nedungadi bank acquired the Cochin National Bank in [[Trichur]], and in 1965, took selected assets and liabilities from the Coimbatore National Bank in [[Coimbatore]].<ref>Malayalam Literary Survey - Volume 22 - Page 29.</ref> <br />
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Over time, Nedungadi established 174 branches, including branches at all major metropolitan cities such as New Delhi, Calcutta, Chennai, Mumbai, Ahmedabad, etc.<ref>{{cite book |title= Banking India, Accepting Deposits for the Purpose of Lending |last1=Krishnan |first1=Harihara |date=2017}}</ref><br />
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In 2002, the Joint Parliamentary Committee (JPC) probing a stock scam pointed out discrepancies in the conduct of business by Nedungadi Bank.<ref>Action Taken Report on the Report of the Joint Parliamentary Committee on Stock Market Scam and Matters Relating Thereto, by the Indian Government and JPC, 2003.</ref> In 2003, the Punjab National Bank (PNB) took over Nedungadi.<ref>{{cite book |title= Banking India, Accepting Deposits for the Purpose of Lending |last1=Krishnan |first1=Harihara |date=2017}}</ref> At the time of the merger with PNB, Nedungadi Bank's shares had zero value, with the result that its shareholders received no payment for their shares.<br />
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==References== <br />
{{reflist}}<br />
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{{Banking in India}}<br />
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[[Category:Defunct banks of India]]<br />
[[Category:Banks established in 1899]]<br />
[[Category:Banks disestablished in 2003]]<br />
[[Category:Indian companies established in 1899]]<br />
[[Category:Indian companies disestablished in 2003]]<br />
[[Category:Companies based in Kozhikode]]</div>->RandomEditorAAA