Till 100+ years back there was hardly any system dealing in banking except certain money lending communities persuing this as a matter of their traditional business.So is the position in respect of Trade Unions in banking industry.Chronologically the events leading to these systems are collected, compiled and given below to be followed up in parts:
General Bank of India formed followed by another bank known as Bank of Hindustan.
Bank of Calcutta established -It was later renamed as Bank of Bengal
Bank of Calcutta becomes Bank of Bengal
Bank of Bombay is established
Bank of Madras is formed
Paper Currency Act is passed
Allahabad Bank is established.This was the first fully Indian owned Bank
AITUC formed under Lala Lajpat Rai’s presidentship at New Delhi
Imperial Bank of India established by merging 3 Presidency Banks –Bank of Bengal,Bank of Bombay and Bank of Madras.
INTUC formed at New Delhi
State Bank of India is formed by replacing Imperial Bank of India. It becomes the first Bank in India to be nationalized.
State Bank of India (Subsidiary Banks) Act is passed enabling State Bank of India to take over 8 former State associated banks as its subsidiaries.
Nationalisation of Banks -14 major Banks in India nationalised
State Bank of India’s Banyan Tree emblem changed to ‘Shoonya’ (Zero)
Nationalisation of Banks -6 other Banks in India nationalized.With this Government of India owned banking in the country rose to 91%.
Government of India acquires the entire Reserve Bank of India shareholding in State Bank of India consisting of over 314 million equity shares at a total amount of over 355 billion rupees.
Indian Trade Unions Act comes into existence
Imperial Bank of India Indian Staff Association is formed under the Benevolent Societies Act at Calcutta (now Kolkata). It was duly registered under Indian Trade Unions Act only on 24th May’1932.
First ever Strike in Imperial Bank of India by Imperial Bank of India Indian Staff Association continuing for 46 days. It was withdrawn on the 15th September’1946.