The Government Savings Bank (1833)
The Government Savings Bank (1833) was a bank founded in the year 1833 in British India. The bank was the fifteenth oldest bank in India.[1]
| Type | Public sector |
|---|---|
| Industry | Banking, Insurance, Capital Markets and allied industries |
| Founded | 1 April 1833 as The Government Savings Bank (1833) |
| Defunct | 31 March 1843 |
| Fate | defunct in 1843 |
| Headquarters | |
Number of locations | Bengal Presidency |
Area served | India |
| Products | Deposits, Personal Banking Schemes, C & I Banking Schemes, Agri Banking Schemes, SME Banking Schemes |
| Services | Banking, Trade Finance |
History
Founding
The bank was founded in 1833 in Kolkata. Two more branches were opened at Bombay (Mumbai) and Madras (Chennai) in 1833 and 1834 with maximum deposit limit of Rs 500 at 4 per cent interest.[2][3]
The bank played a major role in the early economic history of East Bengal and Bangladesh.[4]
Management
The bank had its branches in each of the three Presidencies of British India: Bombay, Madras and Bengal (Calcutta). These branches were later merged into a single entity.[2][3]
Legacy
The bank is notable for being the fifteenth oldest bank in India.[1]
The bank was the spiritual predecessor of the India Post Payments Bank.[5]
References
External links
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