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Bank of Hindostan

Company type	Public sector
Industry	Banking, Insurance, Capital Markets and allied industries
Founded	1770 (1770)^[1]
Founder	Alexander and Co.
Defunct	31 March 1832; 192 years ago (1832-03-31)
Fate	Defunct
Headquarters	Calcutta , Calcutta
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

It was established by the agency house of Alexander and Company.^[2]^[3]^[4]

The Bank lived through three economic crises of the 18th century:^[5]

The Recession of 1819

The failure of Palmer and Co., a British agency house

The Banking Crisis of 1832

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 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]

References

^ "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.
^ ^a ^b ^c "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

History of the Bank

Banking in India

Institutes

Central bank

v t e Reserve Bank of India
Regulation	Reserve Bank of India Act, 1934 Monetary Policy Committee
People	Governor of the Reserve Bank of India Deputy governor of the Reserve Bank of India
Buildings	Reserve Bank of India Staff College RBI Monetary Museum
Subsidiaries	Bharatiya Reserve Bank Note Mudran Security Printing and Minting Corporation of India

Think tanks

Speciality banks

Other

Public-sector
banks

Private-sector
banks

Foreign banks

Wholly owned subsidiary (WOS)	DBS Bank State Bank of Mauritius
Wound up/closed (or in process)	Antwerp Diamond Bank Citibank

Small finance banks

Payments banks

Surrendered licencees or wound up	Aditya Birla Vodafone M-Pesa Tech Mahindra

Cooperative
banks

Regional rural banks

Andhra	Andhra Pradesh Grameena Vikas Bank Andhra Pragathi Grameena Bank
Kerala	Kerala Gramin Bank North Malabar Gramin Bank South Malabar Gramin Bank
Uttar Pradesh	Allahabad UP Gramin Bank Gramin Bank of Aryavart Sarva UP Gramin Bank

Defunct banks

Merged

PSB

SBI

Rescued

Global Trust Bank (OBC)
Lakshmi Vilas Bank (DBS)
Nedungadi Bank (PNB)
United Western Bank (IDBI)
United Industrial Bank (Allahabad Bank)
Punjab and Maharashtra Co-operative Bank (Unity SFB)

Acquired

PSB	Bharat Overseas Bank Pandyan Bank

Wound up

Failed

Liquidated

Networks

Interbank networks	Cirrus NFS PLUS
ATM networks	BANCS Cashnet CashTree MITR

Cards

Online transfers

Payment service
providers

Digital wallets	Amazon Pay BharatPe Freecharge Google Pay Mobikwik Oxigen Services Payoneer PayU Payworld PhonePe

History

Business Activities

See also

References

External links