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Mumbai's First Bank, 1
This paper is the life story of the Bombay Bank, the first bank on Bombay Island, established in 1720. Though it was the very first government bank in Mumbai, now the financial capital of the Indian Nation, very few details of the bank's operations are available in the hitherto published liter...
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| Format: | Article |
| Language: | English |
| Published: |
2014
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| Summary: | This paper is the life story of the Bombay Bank, the first bank on Bombay Island, established in 1720. Though it was the very first government bank in Mumbai, now the financial capital of the Indian Nation, very few details of the bank's operations are available in the hitherto published literature. Being the first of its kind on the Bombay Island, any detailed information relating to the bank assumes great significance for researchers because this bank marks the beginning of banking on the Bombay Island. This paper, exclusively covering information about this Bombay Bank, is based mainly on the detailed study of the East India Company's Diaries in manuscript and also other relevant archival records of the time. The principal objective of this work is to present the findings of this detailed study in a consolidated, coherent and brief format, with a view to sharing it with the research fraternity. This narration covers most of the relevant aspects about the bank, starting right from its founding in 1720, personnel, management and operations; and finally the compelling circumstances leading to its closing down by the founders themselves within a short span of just sixty years. |
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| Physical Description: | 9-49 |