First of Banks: The Banking History of India

Aug 2020|🟢Current|4 min read|74 entries

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Key Takeaway

The following topic lists all the firsts in the banking history of India.

Last verified: 12 Feb 2026·Source: www.pscarivukal.com

First of Banks: The Banking History of India

The following topic lists all the firsts in the banking history of India. This topic is primarily focused on the candidates who are preparing for various banking exams like IBPS PO/Clerk, RRB, Co-operative Bank exams, etc, as well as for those who are preparing for the various UPSC & PSC exams.

First Banks of India(48)

Item	Detail
First Bank in India	Bank of Hindustan(1770)
Second	The General Bank of India(1786)
First Foreign Bank in India	Chartered Bank of India, Australia and China(Calcutta, 1853)
First Private Bank in India	Nedungadi Bank(Calicut, Kerala, 1899)
Founder	AppuNedungadi
First Commercial Bank of India	Bank of Calcutta(Later renamed as SBI, 1806)
Headquarters	Mumbai
First Bank to sell Mutual Funds	State Bank of India
First Bank to introduced Multi-Currency International Debit Card	State Bank of India
First Bank in India to launch its own Payment Aggregators	State Bank of India(SBI ePay)
First Co-operative Bank in India	Anyonya Co-operative Bank Limited(Baroda, Gujarat, 1889)
First Control Co-operative bank in India	Jabalpur Control Co-operative Bank
First all Woman Bank in India	Bharatiya Mahila Bank(Mumbai, 2013)
First Small Finance Bank	Capital Small Finance Bank(Jalandhar, Punjab, 2015)
First Payments Bank in India	Airtel Payment Bank Ltd
First Bank managed by Indians	Oudh Commercial Bank
First Bank to Introduce Cheque system	Bengal Bank(1784)
First Bank with Indian CapitalInvestment	Punjab National Bank
Founder	Lala Lajpat Rai
First Bank owned and operated by Indians	Central Bank of India
First Foreign Bank in India to launch 'green deposit'	HSBC
First Bank to get Online Banking Facility in India	HDFC
First Bank to get ISO certificate	Canara Bank
First Indian Bank outside India	Bank of India(London, 1946)
First Bank to introduced Debit Card in India	Citi Bank
First Bank to introduce ATM	HSBC(Mumbai, 1987)
First Bank in India to launch Talking ATMs for differently able person	Union Bank of India
First Bank to have Joint Stock Public Bank (Oldest)	Allahabad Bank
First Universal Bank	ICICI(Industrial Credit and Investment Corporation of India)
Formed on	1955
First Bank to provide mobile ATM	ICICI
First Bank to give Internet Banking Facility	ICICI
First Bank to introduce BlockChain technology	ICICI
First Bank to launch EMI Facility on Debit Card	ICICI
First Bank in India to be listed in New York Stock Exchange (NYSE)	ICICI
The biggest Private Commercial Bank in India	ICICI
First Bank to introduce Savings Account	Presidency Bank(1833)
First Computerized Bank in India	Bank of India
First Digital Bank	Digibank
First Bank to issue Credit Cards	Central Bank of India
First Rural Regional Bank (Grameen Bank)	Prathama Bank(sponsored by Syndicate Bank)
First Bank to get ‘in principle’ Banking license	IDFC & Bandhan Bank
First Bank to introduce Merchant Banking in India	Grind lays Bank
First Bank to introduce Voice Biometric	Citibank
First Bank to introduce Robot in Banking Services	City Union Bank(2016)
India’s First Banking robot named	Lakshmi
First Humanoid in India's Banking was introduced by	HDFC(2017)
First Bank in India to issue Electronic Passbook	Federal Bank(FedBook, 2013)

First Bank in India

Bank of Hindustan(1770)

Second

The General Bank of India(1786)

First Foreign Bank in India

Chartered Bank of India, Australia and China(Calcutta, 1853)

First Private Bank in India

Nedungadi Bank(Calicut, Kerala, 1899)

Founder

AppuNedungadi

First Commercial Bank of India

Bank of Calcutta(Later renamed as SBI, 1806)

Headquarters

Mumbai

First Bank to sell Mutual Funds

State Bank of India

First Bank to introduced Multi-Currency International Debit Card

State Bank of India

First Bank in India to launch its own Payment Aggregators

State Bank of India(SBI ePay)

First Co-operative Bank in India

Anyonya Co-operative Bank Limited(Baroda, Gujarat, 1889)

First Control Co-operative bank in India

Jabalpur Control Co-operative Bank

First all Woman Bank in India

Bharatiya Mahila Bank(Mumbai, 2013)

First Small Finance Bank

Capital Small Finance Bank(Jalandhar, Punjab, 2015)

First Payments Bank in India

Airtel Payment Bank Ltd

First Bank managed by Indians

Oudh Commercial Bank

First Bank to Introduce Cheque system

Bengal Bank(1784)

First Bank with Indian CapitalInvestment

Punjab National Bank

Founder

Lala Lajpat Rai

First Bank owned and operated by Indians

Central Bank of India

First Foreign Bank in India to launch 'green deposit'

HSBC

First Bank to get Online Banking Facility in India

HDFC

First Bank to get ISO certificate

Canara Bank

First Indian Bank outside India

Bank of India(London, 1946)

First Bank to introduced Debit Card in India

Citi Bank

First Bank to introduce ATM

HSBC(Mumbai, 1987)

First Bank in India to launch Talking ATMs for differently able person

Union Bank of India

First Bank to have Joint Stock Public Bank (Oldest)

Allahabad Bank

First Universal Bank

ICICI(Industrial Credit and Investment Corporation of India)

Formed on

1955

First Bank to provide mobile ATM

ICICI

First Bank to give Internet Banking Facility

ICICI

First Bank to introduce BlockChain technology

ICICI

First Bank to launch EMI Facility on Debit Card

ICICI

First Bank in India to be listed in New York Stock Exchange (NYSE)

ICICI

The biggest Private Commercial Bank in India

ICICI

First Bank to introduce Savings Account

Presidency Bank(1833)

First Computerized Bank in India

Bank of India

First Digital Bank

Digibank

First Bank to issue Credit Cards

Central Bank of India

First Rural Regional Bank (Grameen Bank)

Prathama Bank(sponsored by Syndicate Bank)

First Bank to get ‘in principle’ Banking license

IDFC & Bandhan Bank

First Bank to introduce Merchant Banking in India

Grind lays Bank

First Bank to introduce Voice Biometric

Citibank

First Bank to introduce Robot in Banking Services

City Union Bank(2016)

India’s First Banking robot named

Lakshmi

First Humanoid in India's Banking was introduced by

HDFC(2017)

First Bank in India to issue Electronic Passbook

Federal Bank(FedBook, 2013)

📝SideNotes(22)

Item	Detail
Plastic Money	Credit Card
Reserve Bank of India was instituted in	1935
First Governor	Osborne Smith*
First Indian Governor	CD Deshmukh*
Oldest Bank	State Bank of India
Formed in	1921 (as imperial Bank)
Largest public sector bank in India	State Bank of India
Bank with more branches in India	State Bank of India
First exclusive gold banking outlet of SBI is	Sona Ghar, Hyderabad
The Bank that holds the second position for maximum branches	State Bank of India
SBI associate banks were nationalized on	1959
In 1955, Imperial Bank of India was nationalized and renamed as	State Bank of India
Oldest existing Public Sector Bank in India	Allahabad Bank
Nationalization of Banks took place in	July 19, 1969
Total no. of Nationalized Banks in India	12*
The first bank in Kerala is	Nedungadi Bank
First bank in Kerala to implement CORE banking system	South Indian Bank
First Insurance Company in India	Oriental Life Insurance Company(1818)
National Housing Bank (NHB) was formed in the year	1988
National Bank for Agriculture and Rural Development	1982
Small Industries Development Bank of India (SIDBI)was formed in	1990 (Headquarters: Lucknow)
Industrial Development Bank was established in	1964

Plastic Money

Credit Card

Reserve Bank of India was instituted in

1935

First Governor*

Osborne Smith

First Indian Governor*

CD Deshmukh

Oldest Bank

State Bank of India

Formed in

1921 (as imperial Bank)

Largest public sector bank in India

State Bank of India

Bank with more branches in India

State Bank of India

First exclusive gold banking outlet of SBI is

Sona Ghar, Hyderabad

The Bank that holds the second position for maximum branches

State Bank of India

SBI associate banks were nationalized on

1959

In 1955, Imperial Bank of India was nationalized and renamed as

State Bank of India

Oldest existing Public Sector Bank in India

Allahabad Bank

Nationalization of Banks took place in

July 19, 1969

Total no. of Nationalized Banks in India

12*

The first bank in Kerala is

Nedungadi Bank

First bank in Kerala to implement CORE banking system

South Indian Bank

First Insurance Company in India

Oriental Life Insurance Company(1818)

National Housing Bank (NHB) was formed in the year

1988

National Bank for Agriculture and Rural Development

1982

Small Industries Development Bank of India (SIDBI)was formed in

1990 (Headquarters: Lucknow)

Industrial Development Bank was established in

1964

* Time-sensitive data — verify for latest information

- Largest Private Sector Bank in India–HDFC Bank.**(4)

Item	Detail
Largest Foreign Bank in India	Standard Chartered Bank
Bank with a maximum no. of overseas branches	Bank of Baroda
First Financial Archive in India was set up in	Kolkata
Export-Import Bank of India was set up in 1982 as a wholly-owned undertaking of the	Government of India

Largest Foreign Bank in India

Standard Chartered Bank

Bank with a maximum no. of overseas branches

Bank of Baroda

First Financial Archive in India was set up in

Kolkata

Export-Import Bank of India was set up in 1982 as a wholly-owned undertaking of the

Government of India

Continue Studying

First of Banks: The Banking History of India

Key Takeaway

First of Banks: The Banking History of India

First Banks of India(48)

📝SideNotes(22)

- Largest Private Sector Bank in India–HDFC Bank.**(4)

Continue Studying

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