31. The presidency banks dominated banking in India but there were also some exchange banks and a number of Indian joint stock banks . 32. The Bank of NSW was the second in the settlement, after the Australian Joint Stock Bank which had opened a month earlier. 33. 1911 "'The Carlisle and Cumberland Bank "'was formed in 1836, Carlisle being entirely destitute of a native joint stock bank establishment . 34. Indian joint stock banks were generally under capitalised and lacked the experience and maturity to compete with the presidency and exchange banks. 35. Gurney's Bank in Norwich was at that time in the hands of Barclays " to meet the competition of the joint stock banks . 36. The Australian Joint Stock Bank foreclosed on the mortgage and plant from the operation was sold at auction in Sydney in December 1867. 37. It expanded and changed name, taking over a Ramsgate bank, and being known as the Counties Joint Stock Bank and English Joint-Stock Bank. 38. It was constituted as a joint stock bank in 1836 under the Halifax Commercial name, its immediate predecessor having been Rawdon Briggs and Sons. 39. This pamphlet launched a strong attack on the monopoly position of the Bank of England and proposed the setting up of joint stock banks . 40. The Allahabad Bank, established in 1865 and still functioning today, is the oldest Joint Stock bank in India, it was not the first though.
