Bank of Calcutta was founded on 2 June 1806, mainly to fund General Wellesley’s wars against Tipu Sultan and the Marathas.
It was the first bank of India and was renamed Bank of Bengal on 2 January 1809.
The bank opened branches at Rangoon (1861), Patna (1862), Mirzapur (1862), and Benares (1862).
Among the bank’s renowned customers were, scholar and politician Dadabhai Naoroji, scientist Jagadish Chandra Bose, India’s first President Rajendra Prasad, Nobel laureate Rabindranath Tagore and educationist Ishwar Chandra Vidyasagar.
The bank was risk averse and would not lend for more than three months.