The Bank Of Rajasthan Ltd. was established at Udaipur, the city of lakes in Rajasthan on the auspicious day of Akshya Tritiya on May 8, 1943. The credit for the birth of the Bank goes to, the then finance minister of the erst-while Mewar Government, late Shri Rai Bahadur P.C. Chatterji, who persuaded 

Central office Jaipur 

the Mansingka brothers of Bhilwara for establishing a joint stock bank with its registered Office at Udaipur.                              

The Bank was established with an initial capital of Rs.10.00 lacs. Late Seth Shri Govind Ram Seksaria, an eminent Industrialist of the country, was the founder Chairman. The first Broad of Directors comprised such men of eminence as Shri Rai Bahadur Seth Rameshwarlal Ji Duduwala, Seth Shri Subhhag Mal Ji Lodha besides the Mansighka brothers, Seth Shri Pusa Lalji Mansighka and Seth Shri Damodar Lal ji Mansighka. The other members of the board were Major Rajadhiraj Amar Singhji of Banera and the then Accountant General of Mewar, Rai Bahadur lala Sukhdayalji.

In line with the contemporary practice of naming the bank after the location or princely state, the suggested names for the bank were Bank of Mewar State or Bank of Udaipur. The promoters, being very clear in their vision, expressed the view that the word 'Rajasthan' will be more advantageous in future for expanding activities in other princely states since under the new constitution grouping of the then local princely states was expected under one umbrella. As now is history, the individual princely states were merged under the final name for the state - Rajasthan. The naming of the bank, The Bank of Rajasthan Ltd., glaringly reflected the foresight of the promoters.