Facts about Bank of Bombay

  • Bank of Bombay was the second of the three presidency banks (others being the Bank of Calcutta and the Bank of Madras) of the Raj period.
  • It was established, pursuant to a charter of the British East India Company, on 15 April 1840.
  • The bank’s headquarters were in Bombay, now called Mumbai.
  • The Bank of Bombay, in the absence of any central banking authority at that time, also conducted certain functions which are ordinarily a preserve of a central bank.
  • The Bank of Bombay and two other Presidency banks – the Bank of Calcutta and the Bank of Madras – were amalgamated and the reorganized banking entity was named the Imperial Bank of India on 27 January 1921.
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Author and Assistant Professor in Finance, Ardent fan of Arsenal FC. Always believe "The only good is knowledge and the only evil is ignorance - Socrates"
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