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5/24/13

The Hindu : Education Plus Chennai : Milestones in the growth of Indian banking

Online edition of India's National Newspaper Monday, Jun 25, 2007

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Education Plus Chennai
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Published on Mondays Archives Datewise News News Update Front Page National States: • Tamil Nadu • Andhra Pradesh • Karnataka • Kerala • New Delhi • Other States International Opinion Business Sport Miscellaneous Index Advts C lassifieds Jobs Obituary

Milestones in the growth of Indian banking
1786 - The General Bank of India (defunct) 1806 - The Bank of C alcutta, changed as The Bank of Bengal in 1809 1840 - The Bank of Bombay 1843 - The Bank of Madras 1861 - Paper C urrency Act 1870 - Bank of Hindustan (defunct) 1921 - The Imperial Bank of India (amalgamation of the three Presidency Banks) 1935 - The Reserve Bank of India, as the central bank 1949 - Transfer of Reserve Bank to the Government Sector 1949 - The Banking C ompanies Act / Banking Regulation Act 1955 - The Imperial Bank of India became the State Bank of India (first nationalisation) 1961 - Insurance cover for deposits 1969 - Nationalisation of 14 major banks 1971 - C redit guarantee corporation 1975 - Regional rural banks 1980 - Nationalisation of seven more banks, with deposits over 200 crore Printer friendly page Send this article to Friends by E-Mail

JELP JITO Education Loans
www.jelp.org.in get optimum solution to Fund your higher education thru Bank Loans www.hindu.com/edu/2007/06/25/stories/2007062550351000.htm 1/2

5/24/13

The Hindu : Education Plus Chennai : Milestones in the growth of...
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