State Bank of Travancore (SBT), is a subsidiary of the State Bank Group and also has private share-holders. It is the premier bank of Kerala, India, where it handles its majority of business. Overall, SBT as of March 31, 2015 has a network of 1,157 branches and 1,602 ATMs, covering 18 states and three union territories.

As of March 31, 2015, SBT has a total business stood at ₹1.61 trillion (US$25.23 billion), comprising total deposits of ₹91,077 crore(US$14.29 billion) crore and gross advances of ₹69,907 crore(US$10.96 billion).

The bank has reported a net profit of nearly ₹192 crore(US$30.12 million) in the fourth quarter of the fiscal year 2014-15, compared with ₹48.6 crore(US$7.62 million) a year ago, registering a growth of 295%. For the full fiscal year 2014-15, profit came in at ₹336 crore, against ₹304 crore a year ago.^[1]

History[edit]

The bank was established in 1945 as the Travancore Bank Ltd, at the initiative of C. P. Ramaswami Iyer, then Divan of Travancore. Following violent resentment against the dictatorial rule of Sir. C.P.Ramaswamy Iyer, the bank no longer credits his role. Instead, the Bank now credits the Maharaja of Travancore as the founder, though the Raja 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 registered office was at Madras. In 1960, it became a subsidiary of State Bank of India under the SBI Subsidiary Banks Act, 1959, enacted by the Parliament of India.

Between 1959 and 1965, SBT acquired numerous small, private banks in Kerala.^[2]

• 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 Alleppey.
• 1965: SBT acquired Bank of Alwaye (est. 1942), and Chaldean Syrian Bank, which several leading families of Syrian Christian origin had founded in 1918.^[3]

Financial inclusion[edit]

The Bank has opened over 1.71 Million Basic Savings Bank Deposit accounts (Janapriya accounts). 90% of the 1.71 million accounts were opened in the state of Kerala. We have also linked ‘Aadhar" numbers to 1.80 lac accounts covering 35 villages having a population over 2000 which have been allotted to the Bank for providing basic banking services through BF/BC(Business Facilitator/ Business Correspondents) route or by opening branches.Bank has provided Basic banking in these villages through the BF/BC route except in Perumanna and Mayyil village in Kerala, where new branches wereopened. Bank has opened five branches in the FI village in Kerala and onebranch in Tamil Nadu. They are Perumanna, Mayyil, Nellikuzhy, Kumarampathur,Vadavannur and Lingampatti. In the second phase of FI the Bank will be providing Basic Banking Services in an additional 14 FI Villages allotted to the Bank in Tamil Nadu. Our FI Project is called SAHAYA HASTHAM which is veryapt as our bank always prides itself in lending a helping hand to the rural poor. Opened 28,861 customer accounts in 35 FI villages and a total of 21,608 Smart Cards issued in these 33 FI villages where BCs are functioning· Bank has become a partner of the Aadhar based payment system or Aadhar Bridge National Payments Corporation of India(NPCI) and also a member of the National Automated Clearing House of NPCI. The Bank processes DBT payments through NACH of NPCI.· Bank also process payments for Controller General of Accounts under CPSMS system and plan to set up a separate DBT processing centre shortly. All branches are opening accounts for the beneficiaries of the DBT and also facilitating their Aadhar number linking.·

Board of Directors[edit]

Current Board of Directors ^[4] are :

• Smt. Arundhati Bhattacharya - Chairman
• Mr. Jeevandas Narayan - Managing Director
• Dr. J. Sadakkadulla - Director
• Mr. V.G. Kannan - Director
• Mr. B. Ramesh Babu - Director
• Mr. Ramesh Chandra Srivastava - Director
• Mr. V. Kaliappan - Director
• Mr. P. V. Prasad - Director
• Mr. C. Rajkumar - Director
• Mr. M. C. Jacob - Director
• Mr. Sajen Peter - Director
• Mr. Ashok Kumar Singh - Director

See also[edit]

• Indian banking
• List of banks in India

References[edit]

^[5]

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

External links[edit]

• http://www.statebankoftravancore.com/home45.htm
• [1]

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