The Simla Bank Limited

The Simla Bank Limited
Company typePrivate sector
IndustryBanking, Insurance, Capital Markets and allied industries
Founded19 November 1844 (1844-11-19) as The Simla Bank Limited
Defunct31 March 1893 (1893-03-31)
FateDefunct in 1893
Headquarters
Shimla
,
India
Number of locations
Himachal Pradesh
Area served
India
ProductsDeposits, Personal Banking Schemes, C & I Banking Schemes, Agri Banking Schemes, SME Banking Schemes
ServicesBanking, Trade Finance

The Simla Bank Limited (1844) was a bank founded in the year 1844 in British India. The bank became defunct in the year 1893 with the winding down of its operations. The bank was notable for being the twenty ninth oldest bank in India.[1]

History

Founding

The Simla Bank Limited was founded in 1844 in Shimla, India.[2]

The bank largely served the customers near the city of Shimla, which today corresponds to the Himachal Pradesh state of India.[3][4]

Management

The first Secretary of the bank was Dr. Carte. He was succeeded by Mr. Arnold H. Matthews, who continued attached to the Bank till 1854, when he was appointed Agent for the Agra United Service Bank at Agra.[5][6]

The headquarters of this Bank are at Simla. It had branches at Ambala, Calcutta, Lahore, Mussoorie, Delhi, Agra, Bombay, and Madras.[5][6]

Final years

In 1892, the bank was on the verge of failure.[5][6]

The bank was finally closed in the year 1893.[5][6]

Legacy

The bank is notable for being the twenty ninth oldest bank in India.[7][8][9]

The bank played a key role in the history of Banking in India.[7][8][9]

See also

References

  1. ^ "Calcutta Review". 1891.
  2. ^ []
  3. ^ "The Constitution and History of the Benares Bank, Compiled from the Records. [With an Introduction by e. G. Dunbar and R. J. Debnam.]". 1849.
  4. ^ Cooke, Charles Northcote (1863). "The Rise, Progress, and Present Condition of Banking in India".
  5. ^ a b c d "Banking in India". 1863.
  6. ^ a b c d "The Indian Economist - Vol. 2". 1871.
  7. ^ a b "Reserve Bank of India - Museum". Rbi.org.in. 14 April 2015. Retrieved 15 February 2023.
  8. ^ a b Shrivastava, Mohan Prasad (2007). Banking Reforms and Globalisation - Mohan Prasad Shrivastava - Google Books. ISBN 9788131301593. Retrieved 15 February 2023.
  9. ^ a b "Read Rich: Currency Used In India". Readrich.blogspot.com. 12 September 2011. Retrieved 15 February 2023.