Commercial Bank of India explained

Native Name:Commercial Bank of India
Foundation:Bombay, British India
Locations:10
Products:Banking

The Commercial Bank of India, also known as Exchange Bank, was a bank which was established in Bombay Presidency (now Mumbai), in 1845 of the British Raj period. The bank failed in the crash of 1866,[1] after successfully operating for 20 years. The bank had eight branches, exclusive of the head office at Bombay, viz: London, Calcutta, Hong Kong, Fuzhou, Shanghai, Hankou (now part of Wuhan), Yokohama and Singapore, with an agency for the purchase of bullion at San Francisco.[2] Commercial Bank of India then was winded up as directed by the Master of the Rolls, under the corresponding section of the Companies Act of England, where the company was registered under the Indian law and was not registered in England, but was carrying on business in England.[3]

See also

Notes and References

  1. Web site: Indian Currency >> Museum >> Paper Money - Early Issues. Reserve Bank of India. 27 February 2012. 7 March 2012. https://web.archive.org/web/20120307161740/http://www.rbi.org.in/Scripts/pm_earlyissues.aspx. dead.
  2. Book: The Bankers' magazine. 27 February 2012. 1867. BPC (Bankers' Magazine) Ltd.. 455.
  3. News: The Oriental Bank suspension. 28 February 2012. The Sydney Morning Herald. 6 May 1884.