State Bank of Hyderabad
Encyclopedia
State Bank of Hyderabad (SBH) is an associate bank of State Bank of India
(SBI), and is one of the scheduled banks in India
. The Bank's Head Office is situated at Gunfoundry Area, in Hyderabad, India
. SBH has over 1200 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.
Shri Pratip Choudhary – Chairman
Sri. M Bhagavantha Rao - Managing Director
state under the name, Hyderabad State Bank. It was established in 1942, during the reign of the last Nizam of Hyderabad
, Mir Osman Ali Khan. The bank also managed the Osmania Sicca, the currency of Hyderabad state, which had the distinction of having its own currency during British rule.
In 1956, 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).
Hyderabad State Bank was renamed State Bank of Hyderabad in 1956, and its entire share capital was vested with the Reserve Bank of India. Later, after the Subsidiary Banks Act was passed in 1959, it and the other banks of the princely states became subsidiaries of SBI. SBH was the first subsidiary of State Bank of India.
State Bank of India
The State Bank of India is the largest Indian banking and financial services company with its headquarters in Mumbai, India. It is state-owned. The bank traces its ancestry to British India, through the Imperial Bank of India, to the founding in 1806 of the Bank of Calcutta, making it the oldest...
(SBI), and is one of the scheduled banks in India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
. The Bank's Head Office is situated at Gunfoundry Area, in Hyderabad, India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
. SBH has over 1200 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.
Shri Pratip Choudhary – Chairman
Sri. M Bhagavantha Rao - Managing Director
History
The bank originated as the central bank of the erstwhile NizamNizam
Nizam-ul-Mulk of Hyderabad popularly known as Nizams of Hyderabad was a former monarchy of the Hyderabad State, now in the states of Andhra Pradesh , Karnataka , and Maharashtra in India...
state under the name, Hyderabad State Bank. It was established in 1942, during the reign of the last Nizam of Hyderabad
Nizam
Nizam-ul-Mulk of Hyderabad popularly known as Nizams of Hyderabad was a former monarchy of the Hyderabad State, now in the states of Andhra Pradesh , Karnataka , and Maharashtra in India...
, Mir Osman Ali Khan. The bank also managed the Osmania Sicca, the currency of Hyderabad state, which had the distinction of having its own currency during British rule.
In 1956, 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).
Hyderabad State Bank was renamed State Bank of Hyderabad in 1956, and its entire share capital was vested with the Reserve Bank of India. Later, after the Subsidiary Banks Act was passed in 1959, it and the other banks of the princely states became subsidiaries of SBI. SBH was the first subsidiary of State Bank of India.