 | |
| Company type | Private sector |
|---|---|
| Industry | Banking,Insurance,Capital Markets and allied industries |
| Founded | 1 April 1937; 88 years ago (1937-04-01) as The Travancore National and Quilon Bank |
| Founder | |
| Defunct | 31 March 1938 (1938-03-31) |
| Fate | Defunct |
| Headquarters | |
Number of locations | Madras Presidency |
Area served | India |
Key people |
|
| Products | Deposits,Personal Banking Schemes, C & I Banking Schemes, Agri Banking Schemes,SME Banking Schemes |
| Services | Banking, Trade Finance |
TheTravancore National and Quilon Bank, often abbreviated asTN&Q Bank, was abank which came to being in 1937 in the princelyKingdom of Travancore in modern day India as a result of merger of two well known banks of the time, Travancore National Bank and Quilon Bank.[1] The bank was closed down in 1938.
The Travancore National and Quilon Bank was the result of a 1937 merger between Travancore National Bank (founded: 1912) and Quilon Bank (founded: 1919).[1] The merger resulted in TNQB becoming the 4th largest bank in India.[1][2]
The bank was owned and managed by two prominent Christian families of Kerala, Chalakuzhy family and Kandathil family with origin from Thiruvalla.
The bank had also managed to become the fourth largest bank in India, after theImperial Bank of India, theCentral Bank of India and theBank of India.[2]
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The Travancore National and Quilon Bank was a successful bank in all aspects. But its unrelenting support to the Indian National Congress (INC) in the struggle for independence resulted in its downfall. The Dewan(Prime Minister)of Travancore,Sir C.P Ramaswamy Iyer got irked because its founders were supporting the Indian National Congress instead of the Ruler of the Kingdom Of Travancore. So, he devised a plan to close down the bank. His plan was successful, and the two founders of the bank,K. C. Mammen Mappillai andChalakuzhy Paulose Mathen were both falsely implicated and imprisoned by the Dewan, C.P Ramaswamy Iyer and his accomplices.[citation needed]
The bank was closed down after being accused of financial irregularities. But because this was not the truth, the founders were able to repay its investors before closing down permanently in 1939. The banks founders were released from imprisonment without any charges against them being proven.
