State Bank of Hyderabad (SBH) (Telugu: ?????? ??????? ??? ?????????), (Urdu: ???????? ????? ?????) is a nationalised bank in India, with headquarters at Hyderabad, Telangana. It is one of the five associate banks of State Bank of India and is one of the scheduled banks in India. It was founded in 1941 as Hyderabad State Bank. Since 1956 it has been a subsidiary of State Bank of India and now is State Bank's largest associate bank.
The Bank's head office is situated at Gunfoundry Area, in Hyderabad, India. SBH has over 1,500 branches and about 12,800 employees. Assets are in excess of Rupees 767 billion.
The bank has performed well in the past decades, winning several awards for its banking practices. Smt Arundhati Bhattacharya is the current Chairman and Sri. Santanu Mukherjee is the current Managing Director.
It is the chief banker of Telangana State.
History
The bank originated as the central bank of the erstwhile Nizam state under the name, Hyderabad State Bank. It was established on 8 August 1941 under the Hyderabad State Bank Act, during the reign of the last Nizam of Hyderabad, Mir Osman Ali Khan. The bank managed the Osmania Sicca, the currency of Hyderabad state, which covered the present-day Telangana , Hyderabad-Karnataka of Karnataka and Marathwada of Maharashtra. (At the time a number of the princely states had their own currencies.) The bank also carried out commercial banking. The bank opened its first branch at Gunfoundry, Hyderabad on 5 April 1942. The Imperial Bank of India, which had established a branch in Hyderabad in 1868 and another in Secunderabad in 1906, provided officers and clerical staff in the initial stages, and later trained provided training for new recruits. The first secretary of Hyderabad State Bank was Muhammad Saleh Akbar Hydari, son of Sir Akbar Hydari.
After Partition, on 17 September 1948 the Indian Army conducted Operation Polo, which resulted in the annexation of Hyderabad to India. By 1950, the bank had some 50 branches, including branches in parts of the then Hyderabad State that would later be transferred to other states.
In 1953, the bank absorbed, by merger, the Mercantile Bank of Hyderabad, which Raja Pannalal Pitti had founded in 1935. (Other accounts give 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 the Reserve Bank of India took over the bank as its first subsidiary and renamed it State Bank of Hyderabad. That same year saw the break-up of Hyderabad State. Aurangabad, Beed, Parbhani, Nanded, and Osmanabad merged with Maharashtra state. Gulbarga, Bidar, Raichur, and parts of Osmanabad were attached to Karnataka state. The remaining districts formed 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, so on 1 October 1959 it and the other banks of the princely states became subsidiaries of SBI.
See also
- Indian banking
- List of banks in India
References
ArrayExternal links
- Official site
Interesting Informations
Looking products related to this topic, find out at Amazon.com
Source of the article : here
EmoticonEmoticon