Even today, many of the banking offices are housed in heritage structures belonging to the colonial era that are chiefly clustered around Rajaji Road in George Town.[290] Chennai is home to the first European-style banking system in India with the establishment of the 'Madras Bank' on 21 June 1683, almost a century before the establishment of the first commercial banks, such as the Bank of Hindustan and the General Bank of India, which were established in 1770 and 1786, respectively.[291] Upon the recommendation of the British Finance Committee on the formation of a government bank, the Madras Bank, then known as the 'Government Bank', started functioning again from 1806. In 1843, the bank merged with the Carnatic Bank (1788), the British Bank of Madras (1795) and the Asiatic Bank (1804) and became the Bank of Madras, which was one of the three Presidency banks of India, the other two being the Bank of Bengal and the Bank of Bombay.