The oldest commercial bank in the country, State Bank of India, is celebrating its 67th year on 1st July. SBI descends from the Bank of Calcutta founded in 1806 through the Imperial Bank of India.

• The Bank of Madras merged into the other two presidency banks, the bank of Calcutta and the bank of Bombay to form the Imperial Bank of India which in turn became the SBI in 1955.
• In the 19th century, three presidency banks were incorporated. The three presidency banks were the Bank of Madras (established on 2nd June 1806), the Bank of Bombay (incorporated on 15 April 1840), and the Bank of Madras (incorporated on 1 July 1843).