Xannat at 04:57, 13 February 2023

2023-02-13T04:57:52Z

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{{Use Indian English|date=May 2021}}
{{Use dmy dates|date=May 2021}}
{{Infobox company
| name = General Bank of India
| logo =
| native_name =
| type = [[Public sector]]
| traded_as =
| industry = [[Banking]], [[Insurance]], [[Capital Markets]] and allied industries
| genre = 
| fate = Defunct
| predecessor =
| successor =
| foundation = 1786
| founder = [[East India Company]]
| defunct = {{End date|df=yes|1791|03|31}}
| location_city = [[Calcutta]]
| locations = [[Bengal Presidency]]
| area_served = [[India]]
| key_people =
| products = [[Deposit (finance)|Deposits]], [[Personal banking|Personal Banking Schemes]], C & I Banking Schemes, Agri Banking Schemes, [[Small and medium enterprises|SME Banking Schemes]]
| production =
| services = Loans, Deposits
| revenue =
| operating_income =
| net_income =
| aum = 
| assets =
| equity =
| owner =
| num_employees =
| parent =
| divisions =
| subsid =
| footnotes =
| location_country = [[Calcutta]]
| homepage =
}}

The '''General Bank of India''' was a bank founded in the 18th century and lasted till 1791.<ref name="auto2">{{Cite web|url=https://www.businessmanagementideas.com/banking/evolution-of-banking/list-of-4-banks-in-india-before-independence/5336|title=List of 4 Banks in India Before Independence|date=10 August 2016}}</ref><ref name="auto">{{Cite web|url=https://groww.in/blog/the-evolution-of-banking-in-india/|title=The Evolution of Banking in India|date=3 December 2018}}</ref>

== History ==

The Bank was the [[List of oldest banks in India|sixth oldest bank in India]].<ref name="auto2"/><ref name="auto"/>

In the 18th century, [[Calcutta]] had become a centre of trade and commercial activities of the [[East India Company]]. Most of British commercial agencies, businesses, export houses and private industry were headquartered in [[Calcutta]]. All of these businesses were staffed and managed by British expatriates in India. A need was felt for a bank which would cater to the needs of these people. As a result, the General Bank of India was founded in 1786 in [[Calcutta]].<ref name="auto2"/><ref name="auto1">{{Cite web|url=http://www.thecivilindia.com/pages/banking/history-of-banking-in-india.html|title=History of Banking in India|website=www.thecivilindia.com}}</ref><ref name="auto"/>

The bank was staffed by employees, who were mostly British nationals and drawn mainly from the [[East India Company]].<ref name="auto2"/><ref name="auto"/>

== Legacy ==

The bank is largely notable for being [[List of oldest banks in India|the sixth oldest bank in India]].<ref name="auto1"/><ref name="auto2"/><ref name="auto"/>

The bank also played a major role in making the city of [[Calcutta]], the economic and financial centre of [[British India]]. Calcutta thus came to be known as the [[Second city of the United Kingdom|second city of the British Empire]].<ref>{{Cite web|url=https://bankingsutranet.wordpress.com/2017/07/31/history-of-banking/|title=History of Banking in India : Era of Indian Banking Industry|date=31 July 2017}}</ref><ref name="auto"/>

==See also==
{{Portal|Banks}}
*[[Indian banking]]
*[[List of banks in India]]
*[[List of oldest banks in India]]

==References==
{{Reflist}}

==External links==
* [https://www.businessmanagementideas.com/banking/evolution-of-banking/list-of-4-banks-in-india-before-independence/5336 History of the Bank]
* [http://www.thecivilindia.com/pages/banking/history-of-banking-in-india.html History of the Bank]

{{Banking in India}}
{{SBI}}

{{Authority control}}

{{DEFAULTSORT:General Bank of India}}
[[Category:Defunct banks of India]]
[[Category:Companies based in Kolkata]]
[[Category:Banks established in 1786]]

{{India-company-stub}}

General Bank of India - Revision history

Xannat at 04:57, 13 February 2023