| Company type | Private sector |
|---|---|
| Industry | Financial services |
| Founded | 1 April 1788 as The Bengal Bank |
| Founder | Josias Du Pré Porcher |
| Defunct | 31 March 1843 |
| Fate | Merged with the Bank of Madras |
| Successor | Bank of Madras |
| Headquarters | , |
Area served | Madras Presidency in India |
Key people | Josias Du Pré Porcher |
| Products | Deposits, Personal Banking Schemes, C & I Banking Schemes, Agri Banking Schemes, SME Banking Schemes |
| Services | Banking, Insurance, Capital Markets and allied industries |
| Parent | State Bank of India |
The Carnatic Bank was an Indian bank founded in the year 1788 in British India. The bank was the seventh oldest bank in India. [1] The bank was eventually merged with the Bank of Madras in 1843. [2]
The Carnatic Bank was the very first bank founded in the Madras Presidency and served many cities in South India. [3]
The founders of the bank were Josias Du Pré Porcher and Thomas Redhead. Both were European merchants from Calcutta. [4]
The bank was staffed by mostly British nationals who were drawn mainly from the East India Company. [5] The bank had most of its offices and branches in the Madras Presidency. [3]
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. [3]
The bank is notable for being the seventh oldest bank in India. [1]
The bank is also notable for being one of the precursors of the State Bank of India, through its predecessors the Imperial Bank of India and the Bank of Madras. [2]
State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra. SBI is the 48th largest bank in the world by total assets and ranked 221st in the Fortune Global 500 list of the world's biggest corporations of 2020, being the only Indian bank on the list. It is a public sector bank and the largest bank in India with a 23% market share by assets and a 25% share of the total loan and deposits market. It is also the tenth largest employer in India with nearly 250,000 employees. On 14 September 2022, State Bank of India became the third lender and seventh Indian company to cross the ₹ 5-trillion market capitalisation on the Indian stock exchanges for the first time. The Reserve Bank of India (RBI) has identified the SBI, HDFC Bank, and ICICI Bank as Domestic Systemically Important Banks (D-SIBs), which are often referred to as banks that are “too big to fail”.
Indian Bank is an Indian public sector bank, established in 1907 and headquartered in Chennai. It serves over 100 million customers with 41,645 employees, 5,814 branches with 4,929 ATMs and Ccsh deposit machines. Total business of the bank has touched ₹1,094,752 crore (US$140 billion) as onfMarch 231, 023.
The Madras Presidency or Madras Province, officially called the Presidency of Fort St. George II until 1937, was an administrative subdivision (province) of British India and later the Dominion of India. At its greatest extent, the presidency included most of southern India, including all of present-day Andhra Pradesh, almost all of Tamil Nadu and some parts of Kerala, Karnataka, Odisha and Telangana in the modern day. The city of Madras was the winter capital of the presidency and Ooty was the summer capital.
Modern banking in India originated in the mid of 18th century. Among the first banks were the Bank of Hindustan, which was established in 1770 and liquidated in 1829–32; and the General Bank of India, established in 1786 but failed in 1791.
The Bank of Madras was one of the three Presidency Banks of British India, along with the Bank of Bengal and the Bank of Bombay. It was established on 1 July 1843 through the amalgamation of a number of existing regional banks and headquartered in Madras. It was merged with the other Presidency banks in 1921 to form the Imperial Bank of India, which later became the State Bank of India.
The Imperial Bank of India (IBI) was one of the oldest and the largest commercial bank in India, and was subsequently renamed and nationalised as the State Bank of India in 1955. Initially, as per its royal charter, it acted as the central bank for India prior to the formation of the Reserve Bank of India (RBI) in 1935.
The provinces of India, earlier presidencies of British India and still earlier, presidency towns, were the administrative divisions of British governance on the Indian subcontinent. Collectively, they have been called British India. In one form or another, they existed between 1612 and 1947, conventionally divided into three historical periods:
The Bank of Calcutta was founded on 2 June 1806, mainly to fund General Arthur Wellesley's wars against Tipu Sultan and the Marathas. It was the tenth oldest bank in India and was renamed Bank of Bengal on 2 January 1809.
The Bank of Bombay was the second of the three presidency banks of the Raj period. It was established, pursuant to a charter of the British East India Company, on 15 April 1840.
William Gyfford was an English factor and Agent of Madras from 3 July 1681 to 8 August 1684 and the President of Madras from 26 January 1685 to 25 July 1687.
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The 73rd Carnatic Infantry was an infantry regiment originally raised in 1776 as the 13th Carnatic Battalion as part of the Presidency of Madras Army which was itself part of the Honourable East India Company Army. The presidency armies, like the presidencies themselves, belonged to the East India Company until the Government of India Act 1858 transferred all three presidencies to the direct authority of the British Crown. In 1903 all three presidency armies were merged into the British Indian Army. The unit was transferred to the Indian Army upon Indian Independence.
Binny and Co is a shipping, textile, banking and insurance firm based in the city of Chennai, India. It is one of the oldest business firms in Chennai city.
The Bank of Bombay was the second oldest bank in India after The Madras Bank (1683). It was started in 1720, and lasted until 1770.
The Government Savings Bank (1833) was an Indian bank founded in 1833 in British India and operated until it was liquidated in 1843. The bank was the fifteenth oldest bank in India.
The British Bank of Madras (1795) was a bank founded in the year 1795 in British India. The bank was the eighth oldest bank in India.
The Madras Bank (1683) was a bank founded in the year 1683 in British India. The bank was the oldest bank in India.
The Asiatic Bank (1804) was a bank founded in the year 1804 in British India. The bank was the ninth oldest bank in India.
The Bank of Upper India (1863) was a bank founded in the year 1863 in British India. The bank became defunct in the year 1913, when it was acquired by the Alliance Bank of Simla.
The Punjab Banking Company (1889) was a bank founded in the year 1889 in British India. The bank became defunct in the year 1916, when it was acquired by the Alliance Bank of Simla.
