Important Events In The History Of Banking
Time line of important events in Banking history important for interview purpose
Timeline of Banking Events
Year | Event |
---|---|
1770 | Bank of Hindustan established by British |
1806 | Presidency Bank of Bengal – goes on to become Imperial Bank of |
1840 | |
1843 | Presidency Bank of |
1865 | Allahabad Bank established – Oldest Joint Stock bank in |
1881 | |
1894 | Punjab Commercial Bank (PNB), est. in |
1904 | Concept of Co-op Banks introduced by Lord Curzon |
1906 | Swadeshi Movement |
1913 - 1917 | Banking Crisis & failure of 588 banks in various states |
1921 | Imperial Bank Of |
1926 | Hilton Young Committee’s Report on Central Bank |
1927 | HYC Report introduced in Legislative Assembly and rejected |
1933 | Central Banking Investigation Committee’s report passed |
1934 | Reserve Bank Of India Act, 1934 on the basis of the 1933’s report |
1935 | RBI established with Headquarter in |
1937 | HQ of RBI permanently moved to |
1944 | Bretton Woods negotiation. |
1949 | 1 Jan, 1949 – nationalisation of RBI. Governor is C.D. Deshmukh Also, Banking Regulation Act, 1949. |
1952 | A.D. Gorwala Committee recommends re-naming Imperial Bank of |
1954 | ICICI founded |
1955 | 1st July, 1955 – ‘State Bank of |
1964 | IDBI formed as wholly owned subsidiary of RBI by Act of Parliament |
1969 | Nationalisation of Banks: 19 July, 1969. 14 Banks. With authorised capital over Rs. 50 crores. |
1980 | Nationalisation of Banks: 6 banks With authorised capital more than Rs. 200 crores. |
1982 | NABARD established. |
1993 | 4 September, 1993 – New Bank Of India + PNB merger. Total of Nationalised banks now 14 + 6 – 1 = 19 excluding SBI and its associates. |
1994-96 | Core Banking System started making its way into banks and branches … |
1998-99 | Kisan Credit Card introduced by RBI with NABARD. |
2004 | IDBI enters banking sector |
2005 | Banking Ombudsman formed |
2006 | IDBI merges with IDBI Bank. IDBI acquires United Western Bank. |
2007 | CTS (Cheque Truncation System) first implemented in NCR, |
2008 | IDBI Nationalised. Now total nationalised banks is 20 excluding SBI and its associates. SBI merges State Bank of Saurashtra – 1st associate bank merger on 13 August, 2008. |
2010 | ICICI acquires Bank of Rajasthan SBI merges State Bank of |
2011 | ‘Swabhiman Campaign’ under Financial Inclusion launched. |
2012 | ‘RuPay’ launched by National Payments Corporation of |
2013 | Bhartiya Mahila Bank formed. 19 November, 2013. Total nationalised banks is 21 + SBI and it’s 5 associates = 27. |
2014 | ‘RuPay’ dedicated to ‘Jan Dhan Yojana’ for Financial Inclusion launched. 2 new banking license issued by RBI to Bandhan Financial Services and IDFC. RBI announced recall of pre-2005 currency notes. |
2019 | Proposed Basel III implementation |
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