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Banking Updates: Did you Know?

IndianMoney.com Research Team | Posted On Friday, August 20,2010, 04:06 PM

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Banking Updates: Did you Know?

 

 

Banking Updates

Did You know?

  • Bank of Bengal, Bank of Bombay and Bank of Madras merged to form the Imperial Bank of India, which was named as State Bank of India Post Independence.
  • Allahabad Bank was established in 1865 and it is the oldest Joint Stock Bank in India.
  • Reserve Bank of India was nationalised in 1948 , it became a Government owned Institution
  • In 1948 the Banking Regulation Act was enacted and RBI was empowered to regulate, control and inspect the banks in India.
  • The first Indian bank to be given an ISO certification is Canara Bank.

See Also: Banking Regulation Act

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