The Bank of Mirzapore (1835)

The Bank of Mirzapore (1835) was a bank founded in the year 1835 in British India. The bank was the fourteenth oldest bank in India.[1]

The Bank of Mirzapore (1835)
TypePrivate sector
IndustryBanking, Insurance, Capital Markets and allied industries
Founded1 April 1835 (1835-04-01) as The Bank of Mirzapore (1835)
Defunct31 March 1837 (1837-03-31)
Fatedefunct in 1837
Headquarters
India
Number of locations
Mirzapur
Area served
India
ProductsDeposits, Personal Banking Schemes, C & I Banking Schemes, Agri Banking Schemes, SME Banking Schemes
ServicesBanking, Trade Finance

History

Founding

The bank was founded in 1835 in Mirzapur by a Mr. Bathurst, a businessman from England who had arrived in India with a hope of striking it big in the banking industry.[2][3]

The bank printed its own notes and achieved a modest level of success in the bill discounting of its notes.[4][5]

Management

The bank was known for its punctuality and it soon gained the confidence of merchants and traders of Calcutta who came to rely on it for their banking needs. The owner of the bank Mr. Bathurst was able to build a large house in Mirzapur due to the success of his bank.[6][7]

Final Years

The bank faced a lot of competition from the Bank of Calcutta which had opened at around the same time and enjoyed the patronage of the East India Company. By 1837, the Bank of Mirzapore was unable to scale up its operations and was not able to compete with the Bank of Calcutta. The Bank of Mirzapore was finally liquidate in 1937.[8][9]

Legacy

The bank is notable for being the fourteenth oldest bank in India.[1]

See also

References
  1. "Reserve Bank of India - Museum". rbi.org.in.
  2. "Banking in India". 1863.
  3. "Banking in India". 1863.
  4. "Banking in India". 1863.
  5. "Banking in India". 1863.
  6. "Banking in India". 1863.
  7. "Banking in India". 1863.
  8. "Banking in India". 1863.
  9. "Banking in India". 1863.
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