name the presidency bank of india
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THREE PRESIDENCY banks were merged in 1921 and were renamed as Imperial Bank of India. They were called as Presidency Bank because these banks were entrusted with the duty of issuing currency notes. In other words, these banks were doing the function of the Reserve Bank, that of issuing currency notes.
The Presidency Banks were the Bank of Bengal, established on 2 June 1806, the Bank of Bombay (incorporated on 15 April 1840), and the Bank of Madras (incorporated on 1 July 1843).
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