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{{Short description|Bank established in India in 1833}}
{{Use Indian English|date=October 2021}}
{{Use dmy dates|date=October 2021}}
{{Infobox company
| name = The Government Savings Bank (1833)
| logo =
| native_name =
| type = [[Public sector]]
| traded_as =
| industry = [[Banking]], [[Insurance]], [[Capital Markets]] and allied industries
| foundation = {{Start date |1833|04|01|df=yes}} as The Government Savings Bank (1833)
| founder =
| defunct = {{End date|df=yes|1843|03|31}}
| fate = Liquidated
| location_city = [[Kolkata]]
| location_country = [[India]]
| locations = [[Bengal Presidency]]
| area_served = [[India]]
| key_people =
| products = [[Deposit (finance)|Deposits]], [[Personal banking|Personal Banking Schemes]], C & I Banking Schemes, Agri Banking Schemes, [[Small and medium enterprises|SME Banking Schemes]]
| production =
| services = Banking, Trade Finance

| homepage =
}}

'''The Government Savings Bank (1833)''' was an Indian bank founded in 1833 in [[Company rule in India|British India]] and operated until it was liquidated in 1843. The bank was the [[List of oldest banks in India|fifteenth oldest bank in India]].<ref name="auto1">{{cite web |title=Reserve Bank of India - Museum |url=https://rbi.org.in/scripts/ms_banks.aspx |website=rbi.org.in}}</ref>

== History ==

=== Founding ===
The bank was founded in 1833 in [[Kolkata]]. Two more branches were opened at Bombay ([[Mumbai]]) and Madras ([[Chennai]]) in 1833 and 1834 with maximum deposit limit of Rs 500 at 4 per cent interest.<ref name="dailypioneer.com">{{Cite web|url=https://www.dailypioneer.com/2021/state-editions/posb-now-country---s-oldest--largest-savings-bank.html|title=POSB now country's oldest, largest savings bank}}</ref><ref name="cultural.maharashtra.gov.in">{{cite web |url=https://cultural.maharashtra.gov.in/english/gazetteer/greater_bombay/banking.html |archive-url=https://web.archive.org/web/20130729034954/https://cultural.maharashtra.gov.in/english/gazetteer/greater_bombay/banking.html|title=Greater Bombay District - Banking Trade and Commerce |access-date=July 29, 2013 |archive-date=July 29, 2013|publisher=Greater Bombay District Gazetteer}}</ref>

The bank played a major role in the early economic history of [[East Bengal]] and [[Bangladesh]].<ref>{{Cite web|url=https://m.theindependentbd.com/home/printnews/143488|title=Banking in Bangladesh | Independent|website=m.theindependentbd.com}}</ref>

=== Management ===

The bank had its branches in each of the three [[Presidencies and provinces of British India|Presidencies of British India]]: Bombay, Madras and Bengal (Calcutta). These branches were later merged into a single entity.<ref name="dailypioneer.com"/><ref name="cultural.maharashtra.gov.in"/>

=== Final Years ===

The bank was finally closed and liquidated in 1843.<ref name="dailypioneer.com"/><ref name="cultural.maharashtra.gov.in"/>

== Legacy ==

The bank is notable for being the [[List of oldest banks in India|fifteenth oldest bank in India]].<ref name="auto1"/>

The bank was the spiritual predecessor of the [[India Post Payments Bank]].<ref>{{Cite web|url=https://www.dailypioneer.com/2021/state-editions/posb-now-country---s-oldest--largest-savings-bank.html|title = POSB now country's oldest, largest savings bank}}</ref>

==See also==

{{Portal|Banks}}
*[[Indian banking]]
*[[List of banks in India]]
*[[List of oldest banks in India]]

==References==
{{Reflist}}

==External links==
* [https://rbi.org.in/scripts/ms_banks.aspx Oldest Banks in India]
* [https://www.mintageworld.com/note/dynasty/32/ Banking in India]

{{Banking in India}}
{{Authority control}}

[[Category:Defunct banks of India|Government Savings Bank]]
[[Category:Companies based in Kolkata]]
[[Category:Banks established in 1833]]

The Government Savings Bank (1833) - Revision history

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