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{{Short description|1770–1832 bank in British India}} | |||
{{Use Indian English|date=May 2021}} | {{Use Indian English|date=May 2021}} | ||
{{Use dmy dates|date=May 2021}} | {{Use dmy dates|date=May 2021}} | ||
{{Infobox company | {{Infobox company | ||
| name = Bank of Hindostan | | name = Bank of Hindostan | ||
| logo = | | logo = Bank of Hindostan - Sixteen Sicca Rupees.jpg | ||
| native_name = | | native_name = | ||
| type = [[Public sector]] | | type = [[Public sector]] | ||
| Line 12: | Line 13: | ||
| predecessor = | | predecessor = | ||
| successor = | | successor = | ||
| foundation = 1770<ref> | | foundation = {{Start date|1770||}}<ref>{{Cite web|url=https://rbi.org.in/scripts/ms_banks.aspx|title=Reserve Bank of India – Museum}}</ref> | ||
| founder = [[Alexander and Co.]] | | founder = [[Alexander and Co.]] | ||
| defunct = {{End date|df=yes|1832|03|31}} | | defunct = {{End date and age|df=yes|1832|03|31}} | ||
| location_city = [[Calcutta]] | | location_city = [[Calcutta]] | ||
| locations = [[Bengal Presidency]] | | locations = [[Bengal Presidency]] | ||
| area_served = [[ | | area_served = [[Indian subcontinent]] | ||
| key_people = | | 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]] | | products = [[Deposit (finance)|Deposits]], [[Personal banking|Personal Banking Schemes]], C & I Banking Schemes, Agri Banking Schemes, [[Small and medium enterprises|SME Banking Schemes]] | ||
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| subsid = | | subsid = | ||
| footnotes = | | footnotes = | ||
| location_country = | | location_country = | ||
| homepage = | | homepage = | ||
}} | }} | ||
'''<span lang="hi" dir="ltr">Bank</span> of Hindostan''' ( | '''<span lang="hi" dir="ltr">Bank</span> of Hindostan''' (1770–1832), a now defunct bank, was the [[List of oldest banks in India|third oldest bank in Indian region]]. | ||
== History == | == History == | ||
It was established by the [[Agency Houses in British India|agency house]] of [[Alexander and Co.|Alexander and Company]].<ref>{{cite web|url=https://www.rbi.org.in/scripts/pm_earlyissues.aspx |title=Reserve Bank of India | It was established by the [[Agency Houses in British India|agency house]] of [[Alexander and Co.|Alexander and Company]].<ref>{{cite web|url=https://www.rbi.org.in/scripts/pm_earlyissues.aspx |title=Reserve Bank of India – Museum |publisher=Rbi.org.in |date=2015-04-14 |access-date=2016-09-08}}</ref><ref>{{cite web |url=http://www.indian-coins.com/britishindianotes/presidencies/bengal-presidency/bank-of-hindustan |title=Bank of Hindustan |publisher=Indian-coins.com |access-date=2016-09-08 }}{{Dead link|date=October 2019 |bot=InternetArchiveBot |fix-attempted=yes }}</ref><ref>{{cite web|url=https://books.google.com/books?id=KzkSAAAAYAAJ&q=Bank+of+Hindustan%2C&pg=PA499 |title=Parliamentary Papers, House of Commons and Command - Great Britain. Parliament. House of Commons - Google Books |year=1832 |access-date=2016-09-08}}</ref> | ||
The Bank lived through three economic crises of the | The Bank lived through three economic crises of the 19th century:<ref name=":0">{{Cite web|url=https://mostlyeconomics.wordpress.com/2020/10/29/bank-of-hindostan-was-established-in-calcutta-in-1770-marks-250-years-of-advent-of-british-private-banking-in-india/|title = Bank of Hindostan was established in Calcutta in 1770: Marks 250 years of advent of British private banking in India|date = 29 October 2020}}</ref> | ||
* The Recession of 1819 | * The Recession of 1819 | ||
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== Business Activities == | == Business Activities == | ||
In India, the paper currency was first issued during British [[East India Company]] rule. The first paper notes were issued by the private banks such as Bank of | In India, the paper currency was first issued during British [[East India Company]] rule. The first paper notes were issued by the private banks such as Bank of Hindostan and the presidency banks during late 18th century. Via the [[The Paper Currency Act, 1861|Paper Currency Act of 1861]], the British Government of India was conferred the monopoly to issue paper notes in India.<ref name=":0" /> It was liquidated in 1830–1832.<ref name=":0" /> | ||
==See also== | ==See also== | ||
{{Portal|Banks}} | |||
*[[Indian banking]] | *[[Indian banking]] | ||
*[[List of banks in India]] | *[[List of banks in India]] | ||
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==External links== | ==External links== | ||
* [https://www.businessmanagementideas.com/banking/evolution-of-banking/list-of-4-banks-in-india-before-independence/5336 History of the Bank] | * [https://www.businessmanagementideas.com/banking/evolution-of-banking/list-of-4-banks-in-india-before-independence/5336 History of the Bank] | ||
{{Banking in India}} | {{Banking in India}} | ||
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[[Category:1832 disestablishments in India]] | [[Category:1832 disestablishments in India]] | ||
[[Category:Banks disestablished in 1832]] | [[Category:Banks disestablished in 1832]] | ||
[[Category:Defunct banks of India]] | [[Category:Defunct banks of India|Hindostan]] | ||
Latest revision as of 06:24, 1 February 2026
 | |
| Industry | Banking, Insurance, Capital Markets and allied industries |
|---|---|
| Fate | Defunct |
| Founded | 1770[1] |
| Founder(s) | Alexander and Co. |
| Defunct | 31 March 1832 |
| Headquarters | |
Number of locations | Bengal Presidency |
Area served | Indian subcontinent |
| Products | Deposits, Personal Banking Schemes, C & I Banking Schemes, Agri Banking Schemes, SME Banking Schemes |
| Services | Loans, Deposits |
Bank of Hindostan (1770–1832), a now defunct bank, was the third oldest bank in Indian region.
History[edit | edit source]
It was established by the agency house of Alexander and Company.[2][3][4]
The Bank lived through three economic crises of the 19th century:[5]
- The Recession of 1819
- The failure of Palmer and Co., a British agency house
- The Banking Crisis of 1832
Business Activities[edit | edit source]
In India, the paper currency was first issued during British East India Company rule. The first paper notes were issued by the private banks such as Bank of Hindostan and the presidency banks during late 18th century. Via the Paper Currency Act of 1861, the British Government of India was conferred the monopoly to issue paper notes in India.[5] It was liquidated in 1830–1832.[5]
See also[edit | edit source]
References[edit | edit source]
- ↑ "Reserve Bank of India – Museum".
- ↑ "Reserve Bank of India – Museum". Rbi.org.in. 14 April 2015. Retrieved 8 September 2016.
- ↑ "Bank of Hindustan". Indian-coins.com. Retrieved 8 September 2016.[permanent dead link]
- ↑ "Parliamentary Papers, House of Commons and Command - Great Britain. Parliament. House of Commons - Google Books". 1832. Retrieved 8 September 2016.
- ↑ 5.0 5.1 5.2 "Bank of Hindostan was established in Calcutta in 1770: Marks 250 years of advent of British private banking in India". 29 October 2020.
External links[edit | edit source]
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