Bank of Hindustan and Bengal Bank followed. 1865 - allahabad bank 1894 - punjab national bank 1906 to 1913 - boi, cbi, bob, cb, ib & bom 1935 - reserve bank of india 1913 to 1948 - bank failures 1949 - banking companies act banking regulation act history of banking in india phase i (1786 – 1969) 11. Banking appears to have originated in Ancient Mesopotamia. Readers of The Mystery of Banking will find that money and banking are, contrary to what the book’s title might suggest, no longer a mystery to them. History of Banking in India The first bank in India, though conservative, was established in 1786. Greek and Roman financiers: from the 4th century BC: Banking activities in Greece are more varied and sophisticated than in any previous society. The concept of Internet banking has been simultaneously evolving with the development of the world wide web. Private entrepreneurs, as well as temples and public bodies, now undertake financial transactions. INTRODUCTION Banking in India has a very long history starting from the late 18 th century. From 1786 till today, the journey of Indian Banking System can be segregated into three distinct phases: Phase 1 (1786 to 1969) The first bank in India, the General Bank of India, was set up in 1786. Professor Glyn Davies, Economic Adviser to the Julian Hodge Bank Ltd, and sometime Chief Economic Adviser to the Secretary of State for Wales, and then to the Bank of Wales, is an ideal person to write the history of money itself. First conceptualized in the mid-1970s, some banks offered customers electronic banking in 1985. Among some of the earliest recorded laws (Code of Hammurabi), pertain to the regulation of the banking industry in Mesopotamia. In Britain modern banks began with the Bank Charter Act of 1844. The development of banking in Mesopotamia is quite interesting. There are several types of banks including retail, commercial, and investment banks. Electronic banking, or e-banking, is the term that describes all transactions that take place among companies, organizations, and individuals and their banking institutions. Programmers working on banking data bases came up with ideas for online banking transactions, some time during the 1980s. This book discusses the history of banking beginning in Venice and Genoa. The concept of banking has arrived. Textbooks on money and banking are often prolix, dull, and confusing, but Murray Rothbard explains the essential issues in a step-by-step fashion. The origin of modern banking started from 1770 in the name of “Bank of Hindustan” by English agency ‘House of Alexander & Co’ in Kolkatta however it was closed in 1832. Receipts in the form of clay tablets were used to record transfers between parties. Brief History of Internet Banking. The Act split the Bank of England (which was still legally a private bank) into two departments - a banking department and an issuing department. 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