The bank was established in 1773 by Warren Hastings, the first Viceroy of India.
[2] The bank was staffed by mostly British nationals who were drawn mainly from the East India Company.
[2][4] The bank lasted in business for only two years and was finally closed in 1775.
[2] The bank also issued its own currency notes in its two years of existence.
[1] It is also notable for being one of the first institutions in India to issue its own paper banknotes or currency notes.