Bank of Rajasthan – a history
by 20, October, 2009 1 |
The Bank Of Rajasthan Ltd. was established as a joint stock bank by the Mansingka Brothers at Udaipur in Rajasthan on May 8, 1943. The Bank was established with an initial capital of Rs.10L with the Late Seth Shri Govind Ram Seksaria, an eminent Industrialist of the country, as the founder Chairman.
The Bank was included in the Second Schedule of the Reserve Bank of India in the year 1948 while in the year 1955, the Bank was given license under Section 22 of Banking Regulation Act, 1949.
The Bank was among the first banks to introduce the concept of mobile branches, with the opening of its first mobile branch in Jaipur on 5th August, 1960. The Bank is among the first banks in the private sector to have been assigned Lead Bank responsibility and was also one of the earliest banks in the private sector to sponsor any rural bank as evinced by the establishment of the Mewar Anchlik Gramin Bank in Udaipur on 26th January, 1983.
As of March 2008, the bank has 463 branches nationwide. Shri. P.L Ahuja is the current M.D and CEO.
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