@hooiyewlim 2 June 2020 more from that month

North Western Bank of India history in Singapore

All information is from Malaysia, Singapore & Brunei Banknote & Coins book by K.N. Boon There is hardly any information on this bank. However, going by the record of Chartered Bank of India, Australia & China in 1858, Mr. Joseph Rich was appointed as its newsagent in Bombay. He was the former agent of North Western Bank of India. In Spring 1857, the Charted Bank of India, Australia & China also appointed the former agent of North-Western Bank of India, Mr. John Mackellar as the new manager for the Charter Bank's new branch in China (The "Makalee" Bank) When the Chartered Bank opened its agency in Singapore in 1859, it had leased the former premises of North Western Bank of India, as well as appointed the former agent of the bank as the first agent of the Chartered Bank in Singapore.

Above is a receipt from a pawnbroker, accepting the $100 note as collateral. The value of a $100 note in the 1850s was of such high value, that it was accepted as a debtor's pledge.