| Company type | Private sector |
|---|---|
| Industry | Banking, Insurance, Capital Markets and allied industries |
| Founded | 1 April 1804 as The Asiatic Bank |
| Defunct | 1 July 1843 |
| Fate | merged with the Bank of Madras |
| Successor | Bank of Madras |
| Headquarters | , |
Number of locations | Madras Presidency |
Area served | India |
| Products | Deposits, Personal Banking Schemes, C & I Banking Schemes, Agri Banking Schemes, SME Banking Schemes |
| Services | Banking, Trade Finance |
| Parent | State Bank of 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. [1] [2]
The bank was eventually merged with the Bank of Madras in 1843. [3] [2]
The Asiatic Bank was the third oldest bank founded in the Madras Presidency after The Madras Bank (1683), the Carnatic Bank (1788) and The British Bank of Madras (1795) served many cities in South India. [4] [2]
The bank was founded and largely managed by European traders. They worked closely with the English East India Company. [5] [2]
The bank was staffed by mostly British nationals who were drawn mainly from the East India Company. [6] [2]
The bank had most of its offices and branches in the Madras Presidency. [4] [7] [8] [2]
The bank was one of four banks that were merged to form the Bank of Madras in 1843: The Madras Bank (1683), the Carnatic Bank and The British Bank of Madras (1795). The Bank of Madras is one of the precursors of the Imperial Bank of India and eventually the State Bank of India. [4] [7] [8] [9] [2]
The bank was one of the first banks in India to print its own currency notes. [9] [2]
The bank is notable for being the ninth oldest bank in India. [1] [9] [2]
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. [3] [9] [2]
The Madras Presidency or Madras Province, officially called the Presidency of Fort St. George 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 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.
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 banks 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.
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.
George Town is a neighbourhood in Chennai, Tamil Nadu, India. It is near the Fort Saint George, Chennai. It is also known as Muthialpet and Parry's corner. It is an historical area of Madras city from where its expansion began in the 1640s. It extends from the Bay of Bengal in the east to Park town on the west. The Fort St. George is on the south, to Royapuram in the north. The Fort St. George houses the Tamil Nadu Legislative Assembly and the Secretariat. The High court of Tamil Nadu at Chennai, Dr. Ambedkar Law College, Stanley Medical College and Hospital are located here.
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.
Bank of Hindostan (1770–1832), a now defunct bank, was the third oldest bank in India.
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 Carnatic Bank was an Indian bank founded in the year 1788 in British India. The bank was the seventh oldest bank in India. The bank was eventually merged with the Bank of Madras in 1843.
The Commercial Bank was a bank founded in the year 1819 in British India. The bank was the eleventh oldest bank in India.
The Calcutta Bank was a bank founded in the year 1824 in British India. The bank was the twelfth oldest bank in India.
The Bank of India was a bank founded in the year 1828 in British India and was closed down one year later in 1829. It was the thirteenth oldest bank in India.
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 an Indian 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 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.
