The Bank of India (1828) explained
The Bank of India (1828) should not be confused with Bank of India.
The Bank of India was a bank founded in the year 1828 in British India and was closed down one year later in 1829. It was the thirteenth oldest bank in India.[1]
History
Founding
Raj Kissen Dutt founded the bank in 1828.[2] It closed down in 1829.[1] The bank played a major role in the early economic history of East Bengal and Bangladesh.[3]
Fate
The bank issued its own currency notes in its one year of existence.[4] [5] [6] However, many of the currency notes issued by the bank were found to have been forged.[7]
The bank closed and was liquidated in 1829.[8] [9]
Legacy
The bank is notable for being the thirteenth oldest bank in India.[1] It is also notable for being one of the first institutions in India to issue its own paper banknotes or currency notes.[5] [6] The Paper Currency Act, 1861, abolished the right of private banks to issue their own currency notes.[10] [11]
See also
External links
Notes and References
- Web site: Reserve Bank of India - Museum . rbi.org.in . 20 October 2021 . 20 October 2021 . https://web.archive.org/web/20211020132511/https://rbi.org.in/scripts/ms_banks.aspx . live .
- Book: A Comprehensive Guide of Early Paper Money of India (1770-1861 A.D.): (1770-1861 A.D.). 9781469166285. Nilaish. 28 March 2012.
- Web site: Banking in Bangladesh | Independent. m.theindependentbd.com. 20 October 2021. 20 October 2021. https://web.archive.org/web/20211020132514/https://m.theindependentbd.com/home/printnews/143488. live.
- Book: A Comprehensive Guide of Early Paper Money of India (1770-1861 A.D.): (1770-1861 A.D.). 9781469166285. Nilaish. 28 March 2012. 19 January 2022. 23 February 2024. https://web.archive.org/web/20240223090436/https://books.google.com/books?id=R6NRMzvltFkC&dq=%22The+Commercial+Bank%22+1819&pg=PA70#v=onepage&q=%22The%20Commercial%20Bank%22%201819&f=false. live.
- Web site: India's First Currency Note. 5 October 2018. 20 October 2021. 26 October 2021. https://web.archive.org/web/20211026224641/https://www.livehistoryindia.com/story/forgotten-treasures/indias-first-currency-note/. live.
- Web site: Early Bank Notes | Old Currency Bank Notes | Rare Bank Notes | Mintage World. www.mintageworld.com. 20 October 2021. 20 October 2021. https://web.archive.org/web/20211020132511/https://www.mintageworld.com/note/dynasty/32/. live.
- Book: A Comprehensive Guide of Early Paper Money of India (1770-1861 A.D.): (1770-1861 A.D.). 9781469166285. Nilaish. 28 March 2012.
- Book: An Indian for All Seasons: The Many Lives of R.C. Dutt. 9780143067894. Mukherjee. Meenakshi. 2009. 19 January 2022. 23 February 2024. https://web.archive.org/web/20240223091034/https://books.google.com/books?id=AUwlf7LZgrUC&dq=raj+kissen+dutt&pg=PT52#v=onepage&q=raj%20kissen%20dutt&f=false. live.
- Book: A Comprehensive Guide of Early Paper Money of India (1770-1861 A.D.): (1770-1861 A.D.). 9781469166285. Nilaish. 28 March 2012. 19 January 2022. 23 February 2024. https://web.archive.org/web/20240223091136/https://books.google.com/books?id=R6NRMzvltFkC&dq=%22Bank+of+India%22+1828+calcutta&pg=PA70#v=onepage&q=%22Bank%20of%20India%22%201828%20calcutta&f=false. live.
- Web site: Reserve Bank of India. www.rbi.org.in. 20 October 2021. 20 October 2021. https://web.archive.org/web/20211020132511/https://www.rbi.org.in/commonman/English/Currency/Scripts/EarlyIssues.aspx. live.
- Web site: Reserve Bank of India - Museum. rbi.org.in. 20 October 2021. 20 October 2021. https://web.archive.org/web/20211020132511/https://rbi.org.in/scripts/pm_papermoney.aspx. live.
