Kumbakonam Bank Limited was incorporated on 31 October 1904 as a regional bank; it later became City Union Bank.
Kumbakonam Bank Limited was incorporated as a limited company on 31 October 1904. It focused on operating as a regional bank in Kumbakonam and adopted an agency model in its early years. The bank was later renamed City Union Bank.
U. V. Swaminatha Iyer publishes Purananuru
After years of manuscript research, U. V. Swaminatha Iyer published an edition of the Sangam anthology Purananuru with notes.
The failure of the Madras banking firm Arbuthnot & Co caused the worst financial crisis in the city's history and fuelled support for Indian-owned banks.
Chandrasekharendra Saraswati becomes head of the Kanchi Matha
On 13 February 1907 Swaminathan was installed as the 68th pontiff of the Kanchi Kamakoti Peetham, taking the name Chandrasekharendra Saraswati.
Inspired by the Swadeshi movement, the Indian-owned Indian Bank opened in Madras following the failure of Arbuthnot & Co.
On 25 July 1916 M. A. Venkatarama Chettiar and Athi Krishna Chettiar started Karur Vysya Bank for the traders and farmers of the Karur area.
Bank of Madras merged into the Imperial Bank of India
The Bank of Madras, one of three Presidency banks, was amalgamated with the banks of Bengal and Bombay to form the Imperial Bank of India.
