State Bank of Travancore

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State Bank of Travancore
Formerly called
Travancore Bank Ltd
Public
Traded as NSESBT
BSE532191
Industry Banking
Capital Markets and
allied industries
Fate Merged with State Bank of India
Founded Trivandrum, 12 September 1945 (as Travancore Bank Ltd)
Founder Chithira Thirunal Balarama Varma
Defunct 31 March 2017
Headquarters Poojappura, Thiruvananthapuram, India
Number of locations
1,157 Branches, 12 Extension counters and 1,602 ATM Counters
Area served
Kerala
Services Investment Banking, Consumer Banking, Commercial Banking, Retail Banking, Private Banking, Asset Management, Pensions, Mortgages.
Number of employees
14,069 (2015)
Parent State Bank of India
Website statebankoftravancore.com

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 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.

History[edit]

Foundation[edit]

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'.

Merger[edit]

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 March 31, 2017.

Acquisitions[edit]

Between 1959 and 1965, SBT acquired numerous small, private banks in Kerala.[4]

Board of directors[edit]

Current Board of Directors [6] are :

  • Ms. Arundhati Bhattacharya - Chairman (ex-officio)
  • Mr. C.R.Sasikumar- Managing Director
  • Dr. J. Sadakkadulla - Director
  • Mr. Dinesh Kumar Khara - Director
  • Mr. Neeraj Vyas - Director
  • Mr. Amulya Kumar Sahu - Director
  • Mr. Sandeep Bhatnagar - Director
  • Mr. M. C. Jacob - Director
  • Mr. Sajen Peter - Director
  • Mr. Manish Kumar - Director

See also[edit]

References[edit]

[7]

  1. ^ a b "Ahead of merger with SBI, associate SBT to raise up to Rs 600 crore". The Economic Times. Retrieved 18 February 2017. 
  2. ^ Memon, A. Sreedhara (2001-01-01). Triumph and Tragedy in Travancore: Annals of Sir CP's Sixteen Years. Current Books. ISBN 9788124010945. 
  3. ^ "State Bank Of India (Subsidiary Banks) Act, 1959 - SBI Corporate Website". www.sbi.co.in. Retrieved 2017-04-01. 
  4. ^ http://www.indiabondwatch.com/backend/bond/PDF/900/CN000836.pdf Private placement of bonds
  5. ^ M.A. Ooman. 1976. "Rise and Growth of Banking in Kerala". Social Scientist 5 (3), pp. 24-46.
  6. ^ "State Bank of Travancore Key Personnel". 
  7. ^ SBT Peon Result

http://statebankoftravancore.com/new/PressRelease2012-13.pdf

External links[edit]