New Delhi: On Nov 28 in 1940, over eight decades ago, Liaquat Ali Khan walked into a bank on Parliament Street. He was just a politician then. Little did anyone know that the man who signed the form to open an account would become Pakistan's first Prime Minister seven years later. The bank was a branch of the Imperial Bank of India. This year, it is celebrating its 100th year as the New Delhi main branch of the State Bank of India, as the Imperial Bank was later renamed.
The bank building is a sleek, grey, multi-storey structure towering over the area. But beyond its contemporary facade lies a rich legacy that few can match. A photo of the old Imperial Bank of India branch offers a glimpse into its past. Its grand pillars, echoing the colonial-era architecture, framed a single sprawling floor. It's easy to imagine the scene back then — rows of hefty ledgers, the rhythmic stamping of documents and the careful flourish of inked signatures marking the day's transactions.
Those century-old ledgers, still preserved, hold the signatures of politicians from both sides of the border from before the time the international border even existed. The branch's origins go back to Jan 4, 1926, when it was established as the Raisina Road Branch, informed Debasish Mishra, chief general manager, Delhi Circle, SBI. Delhi had recently become the capital of British India, and a grand new banking institution was needed to match the city's colonial pomp. "Built at a modest cost of Rs 1.75 lakh, the bank stood tall with its British-style pillars and sprawling interiors. A true financial nerve centre," said Mishra, adding, "It now contributes around 14% of Delhi Circle's business, handling close to Rs 70,000 crore."
While the numbers impress, it's the stories within those walls that captivate. Once a neutral space where leaders from an as-yet-undivided India managed their finances, it is a repository of intertwined histories. Liaquat Ali Khan wasn't the only one. Malik Feroz Khan Noon, who would serve as Pakistan's seventh PM, also etched his name in the ageing registers in 1943.
It was also a place where royalty and revolutionaries alike left their mark. Rajkumari Amrit Kaur, India's first health minister and a staunch advocate of women's rights, conducted her banking here. In 1941, she signed the bank's books at a time when she was not just a minister, but also Mahatma Gandhi's secretary. Her legacy extended beyond politics — she later laid the foundation stone of AIIMS and Lady Irwin College, but her financial footprint remains preserved in the bank's archives.
Corporate giants like Tata Sons also maintained accounts here, with entries dating back to 1942. Educators and social reformers weren't left out either. Zakir Hussain, who later became India's third President, signed on behalf of the Jamia Millia Islamia Delhi Society in 1948. The branch was also home to the finances of the Armed Forces Benevolent Fund, with Major General Hira Lal Atal taking charge on June 21, 1949.
Statesmen relied on the branch to take care of their money. Dr Rajendra Prasad, India's first President, opened an account for the Constitution Club. Neelam Sanjiva Reddy, another future President, walked through those doors to open his account in 1964. Leaders like Abul Kalam Azad passed through these doors, their names impressed in the bank's annals.
When the account of the International Statistical Conference was opened around 1951, the signatures of CD Deshmukh, Rajendra Prasad and Jawaharlal Nehru became part of the records. After 100 years of operations, the branch's archives echo the footsteps of those who once walked through its doors. In a digital banking era, those ink-stained pages still hold their charm. Ask senior bank officials and stories of prominent names and forgotten accounts come to life all over again.
Challa Sreenivasulu Setty, chairman, SBI, said the bank had serviced the nation well. "Recently, Parliament enacted that all accounts under the Foreign Contribution (Regulation) Act be maintained at SBI and it is a responsibility SBI has met diligently," said Setty. "This branch opened over 23,000 FCRA accounts during the most difficult phase of the Covid pandemic."