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10th June 2016, 09:07 AM
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Join Date: Aug 2012
Re: Merger Of State Bank Of Hyderabad In SBI

As per my knowledge the State Bank of Hyderabad absorbed, by merger, the Mercantile Bank of Hyderabad, which Raja Pannalal Pitti had founded in 1935.

Country’s largest lender State Bank of India indicated merging either State Bank of Patiala or State Bank of Hyderabad with itself by early next fiscal as part of the consolidation process, which started in 2008

In the same year in 1935, the Bank started conducting government and Treasury business as agent for the Reserve Bank of India

The Subsidiary Banks Act was passed in 1959 by SBI. SBI bank is provides permission to merged with SBI.

On 1 October 1959 SBH and the other banks of the princely states became subsidiaries of SBI.

The Bank's head office is situated at Gunfoundry Area, Hyderabad, India.

SBH has over 2,000 branches and about 18,000 employees.

The Bank's business has crossed Rs. 2.4 trillion as on 31.12.2015 with a net profit of Rs. 8.12 billion


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