Which is the oldest bank in India?

State Bank of India (SBI) is the oldest bank in India. State Bank of India is also the largest bank in India. SBI was established as Bank of Calcutta in 1806. It was renamed as Bank of Bengal in 1809. You can read about the Pradhan Mantri Jan-Dhan Yojana (PMJDY) – National Mission for Financial Inclusion in the given link.

The Bank of Calcutta, Bank of Madras and Bank of Maharashtra were merged to form the Imperial Bank of India in 1921. After Independence, in 1955, the Imperial Bank of India was renamed as the State Bank of India.

Further readings:

  1. RBI – Reserve Bank of India [UPSC Indian Economy Notes]
  2. Bad Banks – Idea Proposed by Indian Banking Association (IBA) Due to COVID-19

Leave a Comment

Your Mobile number and Email id will not be published.

*

*