size, spread and scope of activities of banks in India. The business
profile of banks has transformed dramatically to include nontraditional activities like merchant banking, mutual funds, new
financial services and products and the human resource
development. The advent of internet and other developments in
communication technology has revolutionized the Indian banking
sector beyond imagination in recent times.
160 bank
ANCHOR
INDIA
Eventful history
The genesis of banking in India dates back to the last decades of
the 18th century. The first banks were The General Bank of India
which started in 1786, and the Bank of Hindustan, both of which
are now defunct. The oldest bank in existence in India is the State
Bank of India, which originated in the Bank of Calcutta in June
1806, which almost immediately became the Bank of Bengal. This