Narendra Chandra Dutta

Narendra Chandra Dutta

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Category: Finance

Narendra Chandra Dutta Profile

  • Name:
  • Narendra Chandra Dutta
  • Born:
  • November 25, 1878
  • Died:
  • April 15, 1962
  • Father:
  • Mahesh Chandra Dutta

Narendra Chandra Dutta Biography

Narendra Chandra Dutta was an Indian banker who founded Comilla Banking Corporation which was later restructured as United Bank of India, one of the leading public sector banks, with headquarters in Kolkata. He started the bank with a declared capital of 4,000 rupees. He chose the risk of industrial economy and all his thoughtful decisions proved successful. Noted filmmaker of present times – Anik Dutta is his grandson.

 

He was born on 25 November 1878 in Kalikachchha, Tipperah of Bengal to Mahesh Chandra Dutta. When he was only 9 months old, his father passed away. It left the family to penury and his mother had to struggle a lot to bring up her child. He completed LLB from Ripon College in Kolkata in 1905 and started his profession as a lawyer in the civil court, Comilla. Very soon he earned name as a good lawyer.

 

It was Akhil Chandra Dutta, a community leader who suggested Narendra Chandra Dutta to start Comilla Banking Corporation, the parent organization of United Bank of India. He started Comilla Banking Corporation in the year 1914 with the support of Mahesh Chandra Bhattacharya. Apart from a declared capital of 4000 rupees, he also raised fund of 2500 rupees, by selling his own house for rupees 1500. After a thorough study of the economic conditions of east India, he started investing in tea estates. He also issued loans to investors in the tea industry.

 

When Dutta's eldest son Bata Krishna Dutta returned to Comilla after studies, he joined Comilla Banking Corporation as a trainee. Dutta encouraged his son to start a bank which Bata Krishna accepted. He established the New Standard Bank of India with a capital of 30,000 rupees. It merged with Comilla Banking Corporation, which later came to be known as United Bank of India.

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Updated: March 20, 2016

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