Managing an account in India, in the mod sense, began in the most recent many years of the eighteenth century. Among the principal banks were the Bank of Hindustan, which was set up in 1770 and sold in 1829-32; and the General Bank of India, built up in 1786 yet fizzled in 1791.
The biggest bank, and the most seasoned still in presence, is the State Bank of India (S.B.I). It started as the Bank of Calcutta in June 1806. In 1809, it was renamed as the Bank of Bengal. This was one of the three banks subsidized by an administration government, the other two were the Bank of Bombay and the Bank of Madras. The three banks were converged in 1921 to shape the Royal Bank of India, which upon India’s autonomy, turned into the State Bank of India in 1955. For a long time the administration banks had gone about as semi national banks, as did their successors, until the Store Bank of India was set up in 1935, under the Store Bank of India Act, 1934