Nath Bank

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The Nath Bank (Bengali: নাথ ব্যাংক) was an Indian-owned bank founded by Kshetra Nath Dalal in 1926 in Noakhali, now in Bangladesh but then in undivided India. By 1947 when the Partition of India was imminent, Nath Bank had its head office and three branches in Noakhali district, as well as a branch in Comilla in Tipperah District. Noakhali and Tipperah districts were to become a part of Pakistan, so the bank shifted its head office to Kolkata. During this time the Indian banks were facing severe crisis. In 1949, the Nath Bank had to be bailed out by the Reserve Bank of India.[1] Even that failed to resolve the crisis and the bank was finally liquidated in 1950.[1] The failure of the Nath Bank created a panic among investors.[2]

References[edit]

  1. ^ a b Mallick, Indrajit; Marjit, Sugata (2008). Financial Intermediation in a Less Developed Economy: The History of the United Bank of India. SAGE Publications India. p. 48. ISBN 9788132100225. 
  2. ^ Shrivastava, Mohan Prasad; Pandey, Pradeep Kumar; Vidyarthi, V.P. (2007). Banking Reforms And Globalisation. APH Publishing. p. 5. ISBN 8131301591. Retrieved 22 July 2012.