Category: TBQ

State Bank of Bikaner and Jaipur (SBBJ) History

The genesis of State Bank of Bikaner and Jaipur dates back to the year 1943-44, when the Bank of Jaipur Ltd. and the Bank of Bikaner Ltd. came into existence. In 1960, both banks were incorporated as subsidiaries of State Bank of India and named as State Bank of Bikaner and State Bank of Jaipur. On January 1, 1963, both banks were merged into one entity viz. State Bank of Bikaner and Jaipur.

Bank of Bikaner Ltd:

Bank of Bikaner was founded Maharaja Ganga Singh of Bikaner in 1944. 1

Bank of Jaipur Ltd:

Bank of Jaipur was founded in 1943 under the leadership of industrialist Ramnath Anandilal Podar. 1 2 He was invited by the then Government of Jaipur to organise `The Bank of Jaipur’ and was its chairman. He continued in that capacity till he was appointed by the Government of India as director of the `Central Board of the State Bank of India’. He was also the president of the Bombay Local Board of State Bank of India.

State Bank of Hyderabad History

State Bank of Hyderabad was constituted as Hyderabad State Bank on 8.8.1941 under Hyderabad State Bank Act, 1941 by the last Nizam, Osman Ali Khan, Asaf Jah VII. The Bank started with the unique distinction of being the central bank of the erstwhile State of Hyderabad, covering present-day Telangana region of Andhra Pradesh, Hyderabad-Karnataka of Karnataka and Marathwada of Maharashtra, to manage its currency – Osmania Sikka and public debt apart from the functions of commercial banking. The first branch of the Bank was opened at Gunfoundry, Hyderabad on 5th April, 1942.

In 1953, the Bank took over the assets and liabilities of the Hyderabad Mercantile Bank Ltd. In the same year, the Bank started conducting Government and Treasury business as agent of Reserve Bank of India. In 1956, the Bank was taken over by Reserve Bank of India as its first subsidiary and its name was changed from Hyderabad State Bank to State Bank of Hyderabad. The Bank became a subsidiary of the State Bank of India on the 1st October 1959 and is now the largest Associate Bank of State Bank of India.

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Tagline: Modern. Innovative. Dependable

In 1913, at the instance of Sir Mokshagundam Visvesvaraya, the Engineer Statesman, a state aided Bank, under the patronage of His Highness the Maharaja of Mysore, Sri Krishnaraja Wodeyar IV, was established.This was “Mysore Bank Ltd”. During 1953, “Mysore Bank” was appointed as an agent of Reserve Bank of India to undertake Government business and treasury operations, and in March 1960, it became a subsidiary of the State Bank of India under the State Bank of India (subsidiary Banks) Act 1959.  Now our bank is an Associate Bank under State Bank Group.

Tagline: Working for a better tomorrow

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The State Bank of Patiala was founded as the Patiala State Bank in 1917 by  Late His Highness Bhupinder Singh, Maharaja of erstwhile Patiala state, with one branch at Chowk Fort, Patiala. The bank was setup fostering growth of agriculture, trade and industry.

The bank became Bank of Patiala in 1948, and its name was changed to State Bank of Patiala when it became an associate of the State Bank of India on 1st January 1960.

Sometime ago, SBP had tried to use a mascot 2 and a tagline — Blending Modernity With Tradition 1

State Bank of Indore popularly known as Indore Bank in Malwa Region, and originally known as Bank of Indore Ltd. was incorporated under a special charter of His Highness Maharaja Tukojirao Holker-III, the then ruler of this region in 1920. In terms of State Bank of India (Subsidiary Banks) Act, 1959 the Bank of Indore Ltd. became a subsidiary of State Bank of India w.e.f. 1st January 1960 and was renamed as State Bank of Indore.

The bank was merged with State Bank of India in 2010.

Tagline: Aap Hi Kaa Bank 1

State Bank of Travancore (SBT) history

The Bank was established as the Travancore Bank Ltd. on the 12th September, 1945 with the support and patronage of the then Maharaja of Travancore. Though not credited, it was an initiative of Travancore Dewan Sir CP Ramaswami Aiyer. The bank started its operations from Aana Cutchery — the then new Hajoor Cutchery (Secretariat) in Trivandrum1. We are fairly assuming that the Travancore’s two-elephant-insignia was the bank’s aswell during those times.

Att the instance of the RBI and SBI, 9 banks viz Travancore Forward Bank Limited, Kottayam Orient Bank Limited, The Bank of New India Limited, The Vasudeva Vilasom Bank Limited, The Cochin Nair Bank Limited, The Latin Christian Bank Limited, The Champkulam Catholic Bank Limited, The Bank of Alwaye Limited, and The Chaldean Syrian Bank Limited got acquired/amalgamated in to the bank.

On January 1, 1960, the bank became an associate of the State Bank of India.

Tagline: A long tradition of trust

New Bank of India history

This bank was founded in 1936 in Lahore. The registered office was moved to Amritsar in 1947[1], an after-effect of partition.

Dr Ganeshi Lal Aggarwal, M. R. Kohli, Mulk Raj Aggarwal, Amolak Ram Suri, Jhabar Mal Chokhani, and Rai Sahi Lala Labha Ram were the early directors of this bank. Almost the same set of people also promoted Jupiter Investment Trust[3], from the same address — Sunlight Buildings, Mall, Lahore. [2] Jupiter Investment Trust’s HO was also moved to Amritsar in 1947, and in 1956 to Delhi.

The bank later went into the control of Bangur group (Shree Cements). After the bank was nationalized, the non-banking investment entity, Calcutta-based NBI Industrial Finance company remained with the group. This company continues to be a Bangur-company.

In 1993, the bank was merged with another bank that traced its roots to Lahore — Punjab National Bank. The New Bank of India thus became the first nationalized bank to be merged with another.

Oriental Bank of Commerce History

The bank was founded in 1943 at Lahore by Late Rai Bahadur Lala Sohan Lal.  In 1945, the Bank was acquired by the “Thapar Group”,
a business group in the country at that time. In 1947, the Bank’s Head Office/Registered Office was shifted from Lahore to Amritsar and subsequently to New Delhi in 1951. The bank was nationalized in 1980. In 2004, Global Trust Bank was merged with Oriental Bank Of Commerce.

[We are trying to get the founder’s photograph; if you have, please share]

Did you know: The in-house magazine of OBC is called Aadhar

Tagline: Where every individual is commited