| Type | Private sector |
|---|---|
| Industry | Banking, Insurance, Capital Markets and allied industries |
| Founded | 19 November 1844 as The Simla Bank Limited |
| Defunct | 31 March 1893 |
| Fate | Defunct in 1893 |
| Headquarters | , |
Number of locations | Himachal Pradesh |
Area served | India |
| Products | Deposits, Personal Banking Schemes, C & I Banking Schemes, Agri Banking Schemes, SME Banking Schemes |
| Services | Banking, Trade Finance |
The Simla Bank Limited (1844) was a bank founded in the year 1844 in British India. The bank became defunct in the year 1893 with the winding down of its operations. The bank was notable for being the twenty ninth oldest bank in India. [1]
The Simla Bank Limited was founded in 1844 in Shimla, India. [2]
The bank largely served the customers near the city of Shimla, which today corresponds to the Himachal Pradesh state of India. [3] [4]
The first Secretary of the bank was Dr. Carte. He was succeeded by Mr. Arnold H. Matthews, who continued attached to the Bank till 1854, when he was appointed Agent for the Agra United Service Bank at Agra. [5] [6]
The headquarters of this Bank are at Simla. It had branches at Ambala, Calcutta, Lahore, Mussoorie, Delhi, Agra, Bombay, and Madras. [5] [6]
The bank is notable for being the twenty ninth oldest bank in India. [7] [8] [9]
The bank played a key role in the history of Banking in India. [7] [8] [9]
Samuel Bourne was a British photographer known for his prolific seven years' work in India, from 1863 to 1870. Together with Charles Shepherd, he set up Bourne & Shepherd first in Shimla in 1863 and later in Kolkata (Calcutta); the company closed in June 2016.
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The Alliance Bank of Simla was a British-run though India-registered bank that commenced operations in Simla in 1874 under the management of James Lewis Walker. The bank was established to take over the business of the United Bank of India, established in 1866, which had operations in Simla and Umballa. Its board put the United Bank of India in voluntary liquidation on 21 March 1874, and Alliance Bank commenced operations two days later. After 49 years, Alliance Bank failed on 27 April 1923 due to speculation by its management. At the time that it failed it had 36 branches, including ones in Lahore, Lucknow, Peshawar, Rawalpindi, and Rangoon.
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Christ Church, Shimla, is the second oldest church in North India, after St John's Church in Meerut. Worship is conducted in Hindi and English. Presently, Rev. Sohan lal is the Presbyter-In-Charge (Priest/ father of Christ Church, The Ridge Shimla.
The Nath Bank was an Indian-owned bank founded by Kshetra Nath Dalal in 1926 in Noakhali, now in Bangladesh but then in undivided India. By 1947, when the Partition of India was imminent, the bank had its head office and three branches in Noakhali district, and a branch in Comilla in Tipperah District. Noakhali and Tipperah districts became part of Pakistan, so the bank moved its head office to Kolkata. At that time, Indian banks were facing asevere crisis. In 1949, the Nath Bank had to be bailed out by the Reserve Bank of India. That failed to resolve the crisis and the bank was finally liquidated in 1950. The economist Arun Ghosh attributes its collapse to its over-aggressive expansion of branch banking. The failure of the bank created a panic among investors.
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The Agra Savings Fund (1842) was a bank founded in the year 1842 in British India. The bank became defunct in the year 1863 with the winding down of its operations. The bank was notable for being the twenty fifth oldest bank in India.
