The State Bank of Hyderabad, the oldest Bank in the Telangana region. It was a Nationalised bank in India, with headquarter at Gunfoundry abides, Hyderabad, Telangana.
It plays a major role in the development of the erstwhile Karimnagar district on the agricultural and industrial fronts and economic empowerment of women through the formation of a self-help group as the lead bank of the district.
It was one of the five associate banks of State Bank Of India (SBI)
It was founded in 1941 as the Hyderabad State Bank. From 1956 until 31 March 2017, it had been an associate bank of the SBI.
The state bank of Hyderabad was merged with SBI on 1 April 2017. The SBI would not only become the lead district bank but also the Treasury bank for all the government department.
It would also maintain the currency chest and meet the currency shortage requirement of the Bank.
The SBI is a public sector bank which performs Banking, Insurances, capital markets, and allied industries. The SBH was founded by Nizam Mir Osman Ali Khan.
The chairman of SBH is Rajnish Kumar (banker) and manager Mani Palvesan.The facilities provided by SBH are Personal Banking Schemes, Corporate Banking, SME Banking Schemes, FOREX, Mobile Banking, Internet Banking, Credit Cards, Insurance.”Only the name would change to SBI and nothing else.
All the duties performed by the SBH would now be done by the SBI, which would also prepare the annual credit card of the district” explained by a bank official.
The plans to make SBI one of the top 50 banks in the world affected SBH.The plan was introduced in 2016 and on 15 February 2017, the government of India ratified it, SBH finally merged with SBI on 31 March 2017, along with its co-associates bank.
The joint Mandal-level meeting for the grounding of government welfare schemes would be done by the SBI. The names of SBH was replaced with the SBI in a phased manner to avoid confusion among the customers
Employees’ union leader Bhagavanth Reddy said that they fought against the merger, but failed. The merger would affect the employees of SBH. “Our salaries are two increments lower than SBI staff and we wish the new management would provide equal salaries,” he said.
Expressing concern that more than 20 to 30 SBH bank branches would be closed down in the district, he also feared the employees would be also retrenched as a voluntary retirement scheme (VRS) had been announced. “We are bidding adieu to SBH after working for it for several years and we have to get ready to work in a completely in a new environment from Saturday,” he said.
On the other hand, the customers of SBH are hoping that the service would improve after the merger. R. Chandra Prabhakar, a pensioner with an account in SBH like other government employees and pensioners, hoped that the bank employees would change their attitude towards the customers by providing services in a more friendly environment.