State Bank of Travancore - Revision history

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	==External links==		==External links==
	{{commons category\|State Bank of Travancore}}		{{commons category\|State Bank of Travancore}}
	~~{{Portal\|Banks}}~~

	{{Banking in India}}		{{Banking in India}}

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← Older revision		Revision as of 10:17, 23 December 2021
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	==History==		==History==
	=== Foundation ===		=== Foundation ===
	SBT was established in 1945 as the Travancore Bank Ltd., at the initiative of [[Travancore]] [[List of Diwans 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]] [[Chithira Thirunal Balarama Varma\|Sri Chithira Thirunal Balarama Varma]] as the founder, though the king had little to do with the founding. Although the [[Travancore\|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]].<ref>{{Cite book\|url=https://books.google.com/books?id=gq1uAAAAMAAJ&q=%22travancore+bank%22+1945~~&dq=%22travancore+bank%22+1945&hl=en&sa=X&ved=0ahUKEwjQlt7PooPTAhWBN5QKHThtBB4Q6AEIGTAA~~\|title=Triumph and Tragedy in Travancore: Annals of Sir CP's Sixteen Years\|last=Memon\|first=A. Sreedhara\|date=2001-01-01\|publisher=Current Books\|isbn=9788124010945\|language=en}}</ref> In 1960, it became a subsidiary of [[State Bank of India]] under the SBI Subsidiary Banks Act, 1959, enacted by the [[Parliament of India]].,<ref>{{Cite web\|url=https://www.sbi.co.in/portal/web/corporate-governance/state-bank-of-india-subsidiary-banks-act\|title=State Bank Of India (Subsidiary Banks) Act, 1959 – SBI Corporate Website\|website=www.sbi.co.in\|language=en-US\|access-date=2017-04-01}}</ref> and thus achieved the name 'State Bank of Travancore'.		SBT was established in 1945 as the Travancore Bank Ltd., at the initiative of [[Travancore]] [[List of Diwans 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]] [[Chithira Thirunal Balarama Varma\|Sri Chithira Thirunal Balarama Varma]] as the founder, though the king had little to do with the founding. Although the [[Travancore\|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]].<ref>{{Cite book\|url=https://books.google.com/books?id=gq1uAAAAMAAJ&q=%22travancore+bank%22+1945\|title=Triumph and Tragedy in Travancore: Annals of Sir CP's Sixteen Years\|last=Memon\|first=A. Sreedhara\|date=2001-01-01\|publisher=Current Books\|isbn=9788124010945\|language=en}}</ref> In 1960, it became a subsidiary of [[State Bank of India]] under the SBI Subsidiary Banks Act, 1959, enacted by the [[Parliament of India]].,<ref>{{Cite web\|url=https://www.sbi.co.in/portal/web/corporate-governance/state-bank-of-india-subsidiary-banks-act\|title=State Bank Of India (Subsidiary Banks) Act, 1959 – SBI Corporate Website\|website=www.sbi.co.in\|language=en-US\|access-date=2017-04-01}}</ref> and thus achieved the name 'State Bank of Travancore'.

	=== Merger ===		=== Merger ===

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{{More citations needed|date=May 2015}}

{{Use dmy dates|date=February 2015}}
{{Use Indian English|date=February 2015}}

{{Infobox company
| name = State Bank of Travancore
| logo = State_Bank_of_Travancore.svg
| logo_caption = A Long Tradition of Trust
| native_name =
| native_name_lang = ml
| former_name = Travancore Bank Ltd.
| type = [[Public company|Public]]
| traded_as = {{NSE|SBT}}<br />{{BSE|532191}}
| industry = [[Banking]]<br />[[Capital Markets]] and<br />allied industries
| fate = Merged with [[State Bank of India]]
| successor = [[State Bank of India]]
| founded = {{Start date and age|1945|09|12|df=yes}}<br />as Travancore Bank Ltd.
| founder = [[Chithira Thirunal Balarama Varma]]
| defunct = {{End date|2017|03|31|df=yes}}
| hq_location = [[Poojappura]], [[Thiruvananthapuram]], [[India]]
| num_locations = 1,157 Branches, 12 Extension counters and 1,602 ATM Counters
| area_served = [[Kerala]]
| key_people =
| services = {{Bulleted_list|[[Investment Banking]]|[[Consumer Banking]]|[[Commercial Banking]]|[[Retail Banking]]|[[Private Banking]]|[[Asset Management]]|[[Pensions]]|[[Mortgages]]}}
| num_employees = 14,069 (2015)
| parent = [[State Bank of India]]
| website =
| footnotes =
}}

'''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 of India|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.<ref name=":0">{{cite web|title=Ahead of merger with SBI, associate SBT to raise up to Rs 600 crore|url=http://economictimes.indiatimes.com/industry/banking/finance/banking/ahead-of-merger-with-sbi-associate-sbt-to-raise-up-to-rs-600-crore/articleshow/57222287.cms|website=The Economic Times|access-date=18 February 2017}}</ref> It finally merged with its parent bank on 31 March 2017.

==History==
=== Foundation ===
SBT was established in 1945 as the Travancore Bank Ltd., at the initiative of [[Travancore]] [[List of Diwans 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]] [[Chithira Thirunal Balarama Varma|Sri Chithira Thirunal Balarama Varma]] as the founder, though the king had little to do with the founding. Although the [[Travancore|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]].<ref>{{Cite book|url=https://books.google.com/books?id=gq1uAAAAMAAJ&q=%22travancore+bank%22+1945&dq=%22travancore+bank%22+1945&hl=en&sa=X&ved=0ahUKEwjQlt7PooPTAhWBN5QKHThtBB4Q6AEIGTAA|title=Triumph and Tragedy in Travancore: Annals of Sir CP's Sixteen Years|last=Memon|first=A. Sreedhara|date=2001-01-01|publisher=Current Books|isbn=9788124010945|language=en}}</ref> In 1960, it became a subsidiary of [[State Bank of India]] under the SBI Subsidiary Banks Act, 1959, enacted by the [[Parliament of India]].,<ref>{{Cite web|url=https://www.sbi.co.in/portal/web/corporate-governance/state-bank-of-india-subsidiary-banks-act|title=State Bank Of India (Subsidiary Banks) Act, 1959 – SBI Corporate Website|website=www.sbi.co.in|language=en-US|access-date=2017-04-01}}</ref> and thus achieved the name 'State Bank of Travancore'.

=== Merger ===
On 15 February 2017, the Union Cabinet approved a proposal to merge SBT and four other associate banks with [[State Bank of India]].<ref name=":0" /> It was merged with its parent bank on 31 March 2017.

== Acquisitions ==
Between 1959 and 1965, SBT acquired numerous small, private banks in Kerala.<ref>http://www.indiabondwatch.com/backend/bond/PDF/900/CN000836.pdf Private placement of bonds</ref>
*1959: SBT acquired the assets and liabilities of [[Indo-Mercantile Bank]], which Sri [[Popatlal Goverdhan Lalan]] had helped found in [[Cochin]] in 1937.
*1961: SBT acquired [[Travancore Forward Bank]] (est. 1929), [[Kottayam Orient Bank]] (est. 1926), and [[Bank of New India]] (est. 1944) after the [[Reserve Bank of India]] put the banks under moratorium.
*1963: SBT acquired [[Vasudeva Vilasam Bank]] (est. 1930).
*1964: SBT acquired [[Cochin Nayar Bank]] (est. 1929) and [[Latin Christian Bank]] (est. 1928 in [[Ernakulam]]), after the [[Reserve Bank of India]] put the banks under moratorium. It also acquired [[Champakulam Catholic Bank]], which had been established in 1929 in [[Alappuzha|Alleppey]].
*1965: SBT acquired [[Bank of Alwaye]] (est. 1942), and [[Chaldean Syrian Bank]], which several leading families of [[Syrian Malabar Nasrani|Syrian Christian]] origin had founded in 1918.<ref>M.A. Ooman. 1976. "Rise and Growth of Banking in Kerala". ''Social Scientist'' 5 (3), pp. 24–46.</ref>

==See also==
*[[Indian banking]]
*[[List of banks in India]]

==References==
{{reflist}}

==External links==
{{commons category|State Bank of Travancore}}
{{Portal|Banks}}

{{Banking in India}}
{{SBI}}

[[Category:State Bank of India]]
[[Category:Companies based in Thiruvananthapuram]]
[[Category:Banks based in Kerala]]
[[Category:Banks established in 1945]]
[[Category:Indian companies established in 1945]]
[[Category:Defunct banks of India]]
[[Category:Banks disestablished in 2017]]
[[Category:Indian companies disestablished in 2017]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the Bombay Stock Exchange]]