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{{Use Indian English|date=January 2022}}
{{Use dmy dates|date=January 2022}}
{{Infobox company
| name = The Madras Bank (1683)
| logo =
| native_name =
| type = [[Private sector]]
| traded_as =
| industry = [[Banking]], [[Insurance]], [[Capital Markets]] and allied industries
| genre = 
| fate = merged with the [[Bank of Madras]]
| predecessor =
| successor = [[Bank of Madras]]
| foundation = {{Start date|1683|06|21|df=yes}} as The Madras Bank (1683)
| founder =
| defunct = {{End date|df=yes|1843|07|01}}
| location_city = [[Chennai]]
| locations = [[Madras 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
| revenue =
| operating_income =
| net_income =
| aum = 
| assets =
| equity =
| owner =
| num_employees =
| parent = [[State Bank of India]]
| divisions =
| subsid =
| footnotes =
| location_country = [[India]]
| homepage =
}}

'''The Madras Bank (1683)''' was a bank founded in the year 1683 in [[Company rule in India|British India]]. The bank was [[List of oldest banks in India|the 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|access-date=9 January 2022|archive-date=20 October 2021|archive-url=https://web.archive.org/web/20211020132511/https://rbi.org.in/scripts/ms_banks.aspx|url-status=live}}</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|website=Madrasmusings.com|access-date=19 February 2022|archive-date=17 December 2021|archive-url=https://web.archive.org/web/20211217131111/http://madrasmusings.com/Vol%2020%20No%206/madras-oldest-bank.html|url-status=live}}</ref>

== History ==
=== Founding ===
The Madras Bank (1683) was founded on 21 June 1683.<ref name="auto6">{{cite web|url=https://cdn.s3waas.gov.in/s313f3cf8c531952d72e5847c4183e6910/uploads/2018/06/2018062956.pdf|format=PDF|title=District Profile : Chennai District|website=Cdn.s3waas.gov.in|access-date=19 February 2022|archive-date=31 January 2022|archive-url=https://web.archive.org/web/20220131152101/https://cdn.s3waas.gov.in/s313f3cf8c531952d72e5847c4183e6910/uploads/2018/06/2018062956.pdf|url-status=live}}</ref><ref name="auto5">[http://www.owlapps.net/owlapps_apps/article?id=17032574&lang=en] {{dead link|date=February 2022}}</ref><ref name="auto4">{{Cite web|url=https://www.outlookindia.com/website/story/india-news-madras-or-chennai-on-citys-382nd-birthday-there-is-much-to-be-proud-of/392260|title=Madras Day: Chennai Celebrates 382nd Birthday|website=Outlookindia.com/|date=10 January 2022|access-date=9 January 2022|archive-date=10 January 2022|archive-url=https://web.archive.org/web/20220110214527/https://www.outlookindia.com/website/story/india-news-madras-or-chennai-on-citys-382nd-birthday-there-is-much-to-be-proud-of/392260|url-status=live}}</ref>

The Madras Bank (1683) was the oldest bank founded in the [[Madras Presidency]] making it even older than the [[Carnatic Bank]], [[The British Bank of Madras (1795)]] and [[The Asiatic Bank]] and served many cities in South India.<ref name="auto5"/><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|access-date=9 January 2022|archive-date=17 December 2021|archive-url=https://web.archive.org/web/20211217131111/https://www.thehindu.com/features/metroplus/society/Before-Madras/article14583548.ece|url-status=live}}</ref><ref name="auto6"/><ref name="auto4"/>

The bank was founded and largely managed by European traders. They worked closely with the English East India Company.<ref>{{Cite web|url=https://www.businessmanagementideas.com/banking/evolution-of-banking/list-of-4-banks-in-india-before-independence/5336/|title=List of 4 Banks in India Before Independence|website=Businessmanagementideas.com|date=10 August 2016|access-date=9 February 2022|archive-date=29 June 2022|archive-url=https://web.archive.org/web/20220629032636/https://www.businessmanagementideas.com/banking/evolution-of-banking/list-of-4-banks-in-india-before-independence/5336|url-status=live}}</ref><ref name="auto6"/><ref name="auto4"/>

=== Management ===
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=Indian Columbus: The Banking Heritage Building of Madras|website=Indiancolumbus.blogspot.com|date=7 January 2018|access-date=9 January 2022|archive-date=17 December 2021|archive-url=https://web.archive.org/web/20211217131108/https://indiancolumbus.blogspot.com/2018/01/SBIRajajiSalai.html|url-status=live}}</ref>

The bank had most of its offices and branches in the [[Madras Presidency]].<ref name="auto2"/><ref name="auto6"/><ref name="auto3">{{cite web|url=https://www.nluo.ac.in/wp-content/uploads/2021/04/Legal-Fortnight-Febedn-vol1.pdf|format=PDF|title=Legal Fortnight|website=Nluolac.in|access-date=19 February 2022|archive-date=20 March 2022|archive-url=https://web.archive.org/web/20220320133204/https://www.nluo.ac.in/wp-content/uploads/2021/04/Legal-Fortnight-Febedn-vol1.pdf|url-status=live}}</ref>

The bank was headquartered in [[George Town, Chennai|George Town]] in [[Chennai]].<ref name="auto5"/><ref name="auto3"/>

=== Final years ===
In 1806, the bank was on the verge of failure and was closed and restarted with the same name as '''Madras Bank'''.<ref name="auto6"/><ref name="auto5"/>

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"/><ref name="auto6"/><ref name="auto3"/><ref name="auto4"/>

== Legacy ==
The bank is notable for being the [[List of oldest banks in India|oldest bank in India]].<ref name="auto1"/><ref name="auto4"/>

The bank is also notable for being one of the [[List of banks that have merged to form the State Bank of India|precursors of the State Bank of India]], through its predecessors the [[Imperial Bank of India]] and the [[Bank of Madras]].<ref name="auto"/><ref name="auto4"/>

==See also==

{{Portal|Banks}}

*[[List of oldest banks in India]]
*[[List of banks that have merged to form the State Bank of India]]

==References==
{{Reflist}}

==External links==
* [https://rbi.org.in/scripts/ms_banks.aspx Oldest Banks in India]
* [http://madrasmusings.com/Vol%2020%20No%206/madras-oldest-bank.html History of the Bank]

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

[[Category:Defunct banks of India|Madras Bank]]
[[Category:Financial services companies based in Chennai]]
[[Category:Banks established in 1683]]
[[Category:1843 mergers and acquisitions]]

The Madras Bank (1683) - Revision history

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