The Dacca Bank (1846)

The Dacca Bank (1846) was a bank founded in the year 1846 in Dhaka, British India. The bank was the thirty second oldest bank in India.[1]

The Dacca Bank (1846)
TypePrivate sector
IndustryBanking, Insurance, Capital Markets and allied industries
Founded1 April 1846 (1846-04-01) as The Dacca Bank (1846)
Defunct31 March 1862 (1862-03-31)
Fatemerged with the Bank of Calcutta in 1862
Headquarters
India
Number of locations
Dhaka
Area served
Bangladesh
ProductsDeposits, Personal Banking Schemes, C & I Banking Schemes, Agri Banking Schemes, SME Banking Schemes
ServicesBanking, Trade Finance

History

Founding

The bank was founded in 1846 in Dhaka by Khwaja Alimullah. He was a merchant and the largest and most influential zamindar in East Bengal. He also managed to maintain friendly relations with the British during the British Raj in India.[2] The bank was started with a capital of four lakh rupees.[3]

Management

After his death, Khwaja Alimullah was succeeded by his son Khwaja Abdul Ghani, who continued to manage the affairs of the bank after him.[2] The directors of the Dacca Bank were J P Wise, R J Carnegie, J G N Pogose, Babu Mirtunjoy Dutt, Babu Dinanath Ghosh, William Foley and G M Reilly.[4]

Final Years

The bank was acquired by the Bank of Calcutta in 1862. The last few branches of the bank were shut in 1877 and were gradually replace by the branches of the Bank of Calcutta.[5][3][6]

Legacy

The bank is notable for being the thirty second oldest bank in India.[1] The bank is also notable for being the very first private bank started in the present day country of Bangladesh.[5][7]

See also

References
  1. "Reserve Bank of India - Museum". rbi.org.in.
  2. "Nawab Family of Dhaka - Banglapedia". en.banglapedia.org. Retrieved 17 December 2021.
  3. Scutt, G. P. Symes (1904). The history of the Bank of Bengal; an epitome of a hundred years of banking in India. Cornell University Library. Calcutta, Printed by A.J. Tobias.
  4. Ahmed, Sharif Uddin (12 January 2018). Dacca: A Study in Urban History and Development. Routledge. ISBN 978-1-351-18673-5.
  5. "Banking History of Bangladesh". Retrieved 17 December 2021.
  6. https://www.forgottenbooks.com/en/download/TheHistoryoftheBankofBengal_10510891.pdf
  7. Routledge Library Editions: Urban History. Routledge. 25 February 2021. ISBN 978-1-351-13717-1.
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