History of Banking

What is earliest evidence of Banking in Ancient India?

The History of Banking in India is as old as Vedic Civilization. For example, in Vedic age the loan deeds called rnapatra or rnalekhya were prevalent. Interest rates as well as usury (सूदखोरी ) was prevalent in Vedic India. The Vedic word Kusidin refers to an usurer. Manusmriti condemns usury  and calls it an acceptable […]

Brief History of Banking in India-1

The origin of western type commercial Banking in India dates back to the 18th century. The story of banking starts from Bank of Hindustan established in 1770 and it was first bank at Calcutta under European management. It was liquidated in 1830-32. From Bank of Hindustan in 1770, the evolution of banking in India can be divided […]