Commercial Bank of India

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Native name
Commercial Bank of India
Founded Bombay, British India (1845 (1845))
Defunct 1866 (1866)
Number of locations
10
Products Banking

The Commercial Bank of India, also known as Exchange Bank was a bank which was established in Bombay Presidency (now Mumbai), in 1845 of the British Raj period. The bank failed in the crash of 1866,[1] after successfully operating for 20 years. The bank had eight branches, exclusive of the head office at Bombay, viz: London, Calcutta, Hong Kong, Foochow, Shanghai, Hankow, Yokohama and Singapore, with an agency for the purchase of bullion at San Francisco.[2] Commercial Bank of India then was winded up as directed by the Master of the Rolls, under the corresponding section of the Companies Act of England, where the company was registered under the Indian law and was not registered in England, but was carrying on business in England.[3]

See also[edit]

References[edit]

  1. ^ "Indian Currency >> Museum >> Paper Money - Early Issues". Reserve Bank of India. Retrieved 27 February 2012. 
  2. ^ The Bankers' magazine. BPC (Bankers' Magazine) Ltd. 1867. p. 455. Retrieved 27 February 2012. 
  3. ^ "The Oriental Bank suspension". The Sydney Morning Herald. 6 May 1884. Retrieved 28 February 2012.