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![]() A Long Tradition of Trust | |
Formerly | Travancore Bank Ltd. |
---|---|
Type | Public |
NSE: SBT BSE: 532191 | |
Industry | Banking Capital Markets and allied industries |
Founded | 12 September 1945 (as Travancore Bank Ltd.) |
Founder | Chithira Thirunal Balarama Varma |
Defunct | 31 March 2017 |
Fate | Merged with State Bank of India |
Successor | State Bank of India |
Headquarters | Poojappura, Thiruvananthapuram, India |
Number of locations | 1,157 Branches, 12 Extension counters and 1,602 ATM Counters |
Area served | Kerala |
Services | |
Number of employees | 14,069 (2015) |
Parent | State Bank of India |
State Bank of Travancore (SBT) was a major Indian bank headquartered in Thiruvananthapuram, Kerala, and was a major associate of State Bank of India.
SBT was a subsidiary of the State Bank Group, but also had private share-holders. It was the premier bank of Kerala. Overall, As of 31 March 2015, [update] SBT had a network of 1,157 branches and 1,602 ATMs, covering 18 states and three union territories.
On 15 February 2017, the Union Cabinet approved a proposal to merge SBT and four other associate banks with SBI. [1] It finally merged with its parent bank on 31 March 2017.
SBT was established in 1945 as the Travancore Bank Ltd., at the initiative of Travancore Diwan C. P. Ramaswami Iyer. Following popular resentment against his dictatorial rule, the bank never credited his role. Instead, the Bank considered the Maharaja of Travancore Sri Chithira Thirunal Balarama Varma as the founder, though the king had little to do with the founding. Although the Travancore government put up only 25% of the capital, the bank undertook government treasury work and foreign exchange business, apart from its general banking business. Its head office was at Thiruvananthapuram. [2] In 1960, it became a subsidiary of State Bank of India under the SBI Subsidiary Banks Act, 1959, enacted by the Parliament of India., [3] and thus achieved the name 'State Bank of Travancore'.
On 15 February 2017, the Union Cabinet approved a proposal to merge SBT and four other associate banks with State Bank of India. [1] It was merged with its parent bank on 31 March 2017.
Between 1959 and 1965, SBT acquired numerous small, private banks in Kerala. [4]
The Kingdom of Travancore, also known as the Kingdom of Thiruvithamkoor, was an Indian kingdom from c. 1729 until 1949. It was ruled by the Travancore Royal Family from Padmanabhapuram, and later Thiruvananthapuram. At its zenith, the kingdom covered most of the south of modern-day Kerala and the southernmost part of modern-day Tamil Nadu with the Thachudaya Kaimal's enclave of Irinjalakuda Koodalmanikyam temple in the neighbouring Kingdom of Cochin. However Tangasseri area of Kollam city and Anchuthengu near Attingal in Thiruvananthapuram were parts of British India.
State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra. SBI is the 48th largest bank in the world by total assets and ranked 221st in the Fortune Global 500 list of the world's biggest corporations of 2020, being the only Indian bank on the list. It is a public sector bank and the largest bank in India with a 23% market share by assets and a 25% share of the total loan and deposits market. It is also the tenth largest employer in India with nearly 250,000 employees. On 14 September 2022, State Bank of India became the third lender and seventh Indian company to cross the ₹ 5-trillion market capitalisation on the Indian stock exchanges for the first time.
Sree Padmanabhadasa Sree Chithira Thirunal Balarama Varma, popularly known as Sree Chithira Thirunal, was the last ruling Maharaja of the Indian princely state of Travancore, in southern India until 1949 and later the Titular Maharajah of Travancore until 1991. His reign is known for several notable reforms that have indelible impact on the society and culture of Kerala.
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