First in Banks - Banking History | SBI PO Prelims & Mains Preparation - Bank Exams PDF Download

Important Facts

• The first Bank of India with Limited Liability to be managed by Indian Board was Oudh Commercial Bank. It was established in 1881 at Faizabad.
• Punjab National Bank is the first bank purely managed by Indians, which was established in Lahore in 1895.
• First Truly Swadeshi bank – Central Bank of India is called India’s First Truly Swadeshi bank, which was established in 1911 and wholly owned and managed by Indians.
• Union Bank of India was inaugurated by Mahatma Gandhi in 1919.
• Savings account system in India was started by Presidency Bank, 1833.
• The first Indian bank to open overseas branch is Bank of India. It established a branch in London in 1946.
• Allahabad Bank, established in 1865 – Allahabad Bank is the oldest Public Sector Bank in India having branches all over India and serving the customers for the last 145 years.
• Imperial Bank of India was later renamed in 1955 as the State Bank of India.

First in Banks in Indian Banking History

• First bank in India- Bank of Hindustan (1770)
• First Bank managed by Indians- Oudh Commercial Bank 
• First Bank with Indian Capital- Punjab National Bank (Founder of the Bank is Lala Lajpat Rai) 
• First Bank which is purely managed by Indians - Punjab National Bank
• First Foreign Bank in India – Grindlays Bank
• First bank to get ISO certificate – Canara Bank 
• First Indian bank outside India – Bank of India 
• First Bank to introduce ATM – HSBC (1987, Mumbai) 
• First Bank to have a joint-stock public bank (Oldest) – Allahabad Bank 
• First Universal bank – ICICI (Industrial Credit and Investment Corporation of India) 
• First bank to introduce saving account – Presidency Bank (1833) 
• First Bank to Introduce Cheque system – Bengal Bank (1833) 
• First Bank in India that was established and managed by an Indian Board - Central Bank of India
• First Ever Truly Swadeshi Bank of the country - Central Bank of India
• First bank to give internet banking facility – ICICI 
• First bank to sell mutual funds – State Bank of India 
• First bank to issue credit cards - Central Bank of India 
• First Digital Bank - Digibank
• First Rural Regional Bank (Grameen Bank) – Prathama Bank (sponsored by Syndicate Bank) 
• First bank to get ‘in principle’ banking license – IDFC and Bandhan Bank 
• First Bank to introduce merchant banking in India – Grind lays bank 
• First bank to introduce blockchain technology – ICICI 
• First bank to introduce voice biometric – Citi Bank 
• First bank to introduce robot in banking service- HDFC 
• First Indian Bank to open an overseas branch - Bank of India

Miscellaneous points:

• Largest public sector bank in India – State Bank of India 
• Largest private sector bank in India – HDFC Bank
• Largest foreign bank in India – Standard Chartered Bank 
• Bank with more branches in India – State Bank of India