ABSTRACT
Immediately after Christmas 1853, advertisements appeared in the Bombay newspapers announcing that the Mercantile Bank of India, London and China would open for business on Tuesday, 3 January 1854. The advertisements indicated that a full range of banking services would be available and specifically mentioned deposits, the discounting of bills, cash credits (i.e., loans), safe custody and the purchase and sale of govern ment and other securities.1 A complete set of account books and cheque books had already been ordered from England and all necessary forms had been prepared and printed locally.
