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STATE BANK OF HYDERABAD

Jan 20, 2020 351

HISTORY:

Bank originated because the central bank of the state Nizam formerly under the name Bank of Hyderabad State. It was established in August 8, 1941 under the Central Bank Law Hyderabad, in the era of the last Nizam of Hyderabad, Mir Osman Ali Khan. Bank managed theOsmania dry, Currency of Hyderabad, which covered the present day-Telangana, Hyderabad, Karnataka and Marathwada ofKarnataka in the state of Maharashtra. (At that time, a number of princely states of their currencies.) The Bank also commercial banking services.


The Bank opened its first branch in Gunfoundry, Hyderabad on April 5 1942. TheImperial Bank of India, which has established a branch in Hyderabad in 1868 and another in Hyderabad in 1906, and gave the officers and staff clerical in the early stages, and then provided trainers and was training for recruits.The first secretary of the new Bank of Hyderabad state Mohammed Saleh largest Hydari, the son of Akbar Hydari. After the division, in September, 194,817 Indian army conducted Polo process, which resulted in the annexation of Hyderabad in India. By 1950, the bank had about 50 branches, including branches in parts of Hyderabad State then later to be transferred to other countries. In 1953, the bank absorbed, through mergers and commercial Bank of Hyderabad, which Raja Pannalal Betty had founded in 1935. (Other accounts give the year of the founding in 1946, from the merger in 1952).


In the same year, the bank began to make the government and the business sector, the Treasury and the agent of the Reserve Bank of India. In 1956, the Reserve Bank of India on the bank sub-first and renamed State Bank of Hyderabad. And that same year saw the disintegration of the state of Hyderabad. Aurangabad, eggs, Parbhani, Nanded, Osmanabad and merged state withMaharashtra. It was attached Gulbarga, Bidar, Raichur, and parts of Osmanabad to Karnataka. The remaining regions formed Telangana.After and diastasis triple, and continued the bank's branches Hyderabad State to conduct government transactions in new countries as well. Sub Banking Law was issued in 1959, in the October 1, 1959 that it and other banks of the princely states became the Subsidiary Body for Implementation.

 

MD: Dinesh Khara

          Santanu Mukherjee