17-11-2008: 150th Anniv. of the Standard Chartered Bank in India Stamp


The Chartered Bank of India was instituted in 1853 by James Wilson. In 1858, the chartered bank opened its first branches in Bombay, Kolkata, and Shanghai. After that, in 1863, in Karachi, then it expanded to Hong Kong and Singapore in 1859. The Chartered Bank’s business dealt exclusively with the discounting of bills for opium and cotton. Although there was a gradual increase in opium cultivation in China, the imports of opium still increased from 50,087 pickles in 1863 to 82, 61 pickles by 1888. Chartered Bank profited from the opium trade. After that, the Chartered Bank also became one of the external bank note-issuing institutions in Shanghai.

Buy 150th Anniv. Of the Standard Chartered Bank in India Stamp from Philacy.