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In June 1864 it took over a member of the London
Bankers' Clearing House – the London banking partnership of Masterman, Peters, Mildred and Company – and renamed itself Agra and Masterman's Bank. It met strong opposition, suffered share price manipulation and lost customers. By 1866 it had become the
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The bank was founded in 1833, but by 1840 its business was still confined to advances to the military. Attempts to circulate banknotes were blocked by the government but in any case notes had little appeal to the bulk of local residents. A branch was established in
Somerset Place, Calcutta and by the
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mid-1850s
Calcutta had become its head office with branches in Madras and Bombay and a London agency. Branches in Lahore and Canton were added and at the end of the 1850s the head office was moved to London.
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The remaining Indian portion of its business was reconstituted under the name Agra Bank. and re-opened for business on 7 January 1867. It was liquidated in 1900.
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The Agra and United
Service Bank was incorporated in England in 1857 and issued banknotes but it was unable to gain entry to the London
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163:. Agra and Masterman's was obliged to suspend payment on 6 June 1866 following the panic beginning with the closure of
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129:), with a capital of £1,000,000 and was finally liquidated in 1900.
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The Bengal and Agra Annual Guide and
Gazetteer, for 1841-: I, II.
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Dennis O. Flynn, A.J.H. Latham, Sally M. Miller (editors).
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284:Studies in the Economic History of the Pacific Rim
29:Public bank founded in Agra, India (1833–1900)
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159:leading exchange bank in the East after the
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229:Saturday, 11 June 1836 Issue 16127 Page 6
142:Move to London and the United Service Bank
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205:"The Advent of Modern Banking in India"
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338:Former banknote issuers of Hong Kong
225:Money-Market and City Intelligence.
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353:Economic history of Uttar Pradesh
306::100 years of banking in the East
245:Stuart Muirhead, Edwin Green.
18:Agra and Masterman's Bank
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185:List of oldest banks in India
154:Take over of Masterman's Bank
117:that was founded in 1833 in
249:, Ashgate Publishing, 1996
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247:Crisis Banking in the East
333:Banks established in 1867
328:Banks established in 1857
323:Banks established in 1833
161:Oriental Bank Corporation
286:Routledge, London 1998
207:. Reserve Bank of India
148:Bankers' Clearing House
348:Defunct banks of India
268:accessed 27 May 2020
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302:Compton Mackenzie.
121:(now in the Indian
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209:. Retrieved
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91:Headquarters
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317:Categories
292:0203065352
211:5 February
191:References
86:Liquidated
227:The Times
171:Agra Bank
111:Agra Bank
33:Agra Bank
179:See also
38:Industry
133:History
73: (
68:Defunct
63:, India
53: (
48:Founded
42:Banking
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123:state
102:India
288:ISBN
251:ISBN
213:2023
119:Agra
115:bank
96:Agra
83:Fate
75:1999
71:1999
61:Agra
55:1833
51:1833
125:of
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