State Bank of Hyderabad
State Bank of Hyderabad (SBH) was a regional bank in Hyderabad, with headquarters at Gunfoundry, Abids,
SBH had over 2,000 branches and about 18,000 employees. The bank's business had crossed Rs. 2.4 trillion as on 31.12.2015 with a net profit of Rs. 8.12 billion.
The bank had performed well in the decades before merger, winning several awards for its banking practices.[2] Arundhati Bhattacharya was the chairman and Mani Palvesan the managing director at the time of merger.
It was the chief banker of Telangana.[3]
History
The bank was the central bank of the erstwhile
By 1950 when Hyderabad State became a part of India, the bank had around 50 branches spread over various parts of the then Hyderabad State i.e. present day Telengana, parts of Maharashtra and Karnataka.[7]
In 1953, the bank absorbed, by merger, the Mercantile Bank of Hyderabad, which Raja Pannalal Pitti had founded in 1935.[8] (Some accounts give the year of founding as 1946 and that of merger as 1952). In the same year, the Bank started conducting government and Treasury business as agent for the Reserve Bank of India.
In 1956, under The State Bank Of Hyderabad Act, 1956 share capital of the Hyderabad State Bank was transferred to the Reserve Bank of India. The Reserve Bank of India took over the bank as its first subsidiary and it was renamed as State Bank of Hyderabad. That same year saw the break-up of Hyderabad State. Aurangabad, Beed, Parbhani, Nanded and Osmanabad merged with Maharashtra state. Kalaburagi, Bidar, Raichur, and parts of Osmanabad were merged with Karnataka. The remaining districts formed part of Andhra Pradesh, until the formation in 2015–16 of the state of Telangana. After the trifurcation, the branches of Hyderabad State Bank continued to conduct government transactions in their new states as well.
The Subsidiary Banks Act was passed in 1959. On 1 October 1959, SBH and the other banks of the princely states became subsidiaries of SBI.
Merger
The plans to make SBI one of the top 50 banks in the World affected SBH[
See also
- Indian banking
- List of banks in India
- Hyderabadi rupee
References
- ^ "After 75 years, State Bank of Hyderabad slides into history". Zee Business. 30 December 2016. Retrieved 18 March 2024.
- ^ Avinandan Mukherjee and Prithwiraj Nath. 2005. "An empirical assessment of comparative approaches to service quality measurement", Journal of Services Marketing 19 (3), 174-184.
- ^ Ethnic flavour: SBH to be chief banker to new Telangana state
- ^ "The State Bank Of Hyderabad Act, 1956". ikanoon. 22 December 1956. Retrieved 18 March 2024.
- ^ "SBH slips into history". Hans India. 4 January 2017. Retrieved 18 March 2024.
- ^ Nanisetti, Serish (2 April 2018). "A house for Maharaja Kishen Pershad in Hyderabad". The Hindu.
- ^ "State Bank of Hyderabad slides into history". The Hindu. 18 April 2024. Retrieved 18 March 2024.
- ^ Pagdi, Raghavendra Rao (1987) Short History of Banking in Hyderabad District, 1879-1950. In M. Radhakrishna Sarma, K.D. Abhyankar, and V.G. Bilolikar, eds. History of Hyderabad District, 1879-1950AD (Yugabda 4981-5052). (Hyderabad : Bharatiya Itihasa Sankalana Samiti), Vol. 2, pp.85-87.
- ^ Reserve Bank of India - Press Release : 2016-2017/2504