Attempts to circulate banknotes were blocked by the government but in any case notes had little appeal to the bulk of local residents.
Branches in Lahore and Canton were added and at the end of the 1850s the head office was moved to London.
[3] The Agra and United Service Bank was incorporated in England in 1857 and issued banknotes but it was unable to gain entry to the London Bankers' Clearing House.
It met strong opposition, suffered share price manipulation and lost customers.
[6] Agra and Masterman's was obliged to suspend payment on 6 June 1866 following the panic beginning with the closure of Overend Gurney on 10 May 1866.