By Nilaish, M.B.A. Life Member of IBNS - Indian Banknote Collector’s Chapter Bank of Madraa ca. 1900 The Governemnt Bank of Madras (Madras Government Bank) which was founded by Lord William Bentinck (see below), the Governor of Madras established there about the beginning of the 19 th century. It is said to have limited circulation of its notes. Its notes were like Treasury Bills than notes in proper, as the bank cannot be regarded as note issuing bank in particular (DasGupta 1927). After 1843 Madras Government Bank was replaced by the Bank of Madras. As moving in the same presidency, Asiatic Bank which was established in 1804, had very limited circulation of banknotes. Lord William Bentick Inside of Bank of Madras Bank of Madras was founded on 1 st July 1843 at North Beach Road in the present day Chennai. The Bank of Madras was established with Rs. 3 million. The Madras Government Bank which was established in 180...
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