Company:Mayurbhanj State Bank
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| Type | Public sector |
|---|---|
| Industry | Banking |
| Fate | Merged with State Bank of India |
| Successor | State Bank of India |
| Founded | 2 May 1938 |
| Founder | Pratap Chandra Bhanj Deo |
| Defunct | 4 May 1961 |
| Headquarters | Baripada |
Area served | Mayurbhanj |
Mayurbhanj State Bank was a public sector bank that had its headquarters at Baripada, Odisha, India.
History
Pratap Chandra Bhanj Deo, the Maharaja of Mayurbhanj, established the Mayurbhanj State Bank on 2 May 1938 to promote the growth of industries and commerce in Mayurbhanj.[1] On 1 May 1938, an extraordinary issue of the Mayurbhanj State Gazette was published which announced the rules and regulations relating to its constitution.[2] These rules declared that it was to be a department of the state under the general control and direction of the state authorities.[1] A provision stated that it could not go into liquidation except by the order of the ruler of Mayurbhanj.[1] The initial capital for the bank was provided by the state.[3]
It had its headquarters at Baripada.[3] It had two branches, one at Karanjia and the other at Rairangpur.[3] The total working capital and deposits of the bank were 34,00,000 rupees and 32,00,000 rupees, respectively, on 31 March 1944.[4]
Epilogue
After the independence of India in 1947, Mayurbhanj signed the instrument of accession to join India.[5] Following the merger of Mayurbhanj into Odisha in 1949 it operated for a period under the Government of Odisha.[3] It was merged with the State Bank of India on 4 May 1961.[6][7]
See also
- Banking in India
- List of banks that have merged to form the State Bank of India
References
- ↑ 1.0 1.1 1.2 Pratap Chandra Bhanj Deo. pp. 82,85. https://archive.org/details/pchandra.
- ↑ (in en) The Feudatory and zemindari India. 1938. pp. 508. https://books.google.com/books?id=bQknAQAAIAAJ.
- ↑ 3.0 3.1 3.2 3.3 Nilmani Senapati; Nabin Kumar Sahu (1967). Orissa District Gazetteers: Mayurbhanj. Cuttuck, Superintendent Orissa Government Press. pp. 248–249,307,445–446,484. https://archive.org/details/dli.csl.2971/.
- ↑ Misra, Surendra Nath (1984) (in en). Growth of Commercial Banking in Orissa. Anu Books. pp. 22, 292. https://books.google.com/books?id=WB0vAAAAMAAJ.
- ↑ Ramayyar, M. S. (1967) (in en). Indian Audit and Accounts Department: Its Evolution, Organisation and Functions. Indian Institute of Public Administration. pp. 92. https://books.google.com/books?id=9jE4AQAAIAAJ.
- ↑ Directorate of Printing, Government of India (1961-05-13). Gazette of India, 1961, No. 537. pp. 1034. https://archive.org/details/in.gazette.1961.537/.
- ↑ Department, Orissa (India) Finance (1959) (in en). White Paper on Departmental Activities, Government of Orissa. pp. 15,16–29. https://books.google.com/books?id=VgyOpHxxJwQC.
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