The pride of Hyderabad is going to be a part of State Bank of India (SBI). Yes, the State Bank of Hyderabad has been merged with State Bank of India (SBI). The oldest and first ever bank in Hyderabad developed by the Nijams. State Bank of Hyderabad is having over 75 years of history and was established to take care of Nijam’s currency.
SBH is the last remnant of Asaf Jahi dynasty and now it is integral part of State Bank of India. The State bank of Hyderabad is developed by Mir Osman Ali Khan who played a key role in the development of modern Hyderabad. Osman Ali Khan has developed various historic monuments and many useful things for the society. He played a key role in building Osmania University, railways, Osmania hospital, airlines, high court and many other industrial related projects.
Nijam was once the richest state in the world and the Nijam rulers are the richest persons in their era. State Bank of Hyderabad has taken care of their public debt, commercial banking operations. It also managed the currency of Osmania Sikka. State Bank of Hyderabad (SBH) was started in the year 1941. It’s been 75 long years and it started with just a single branch in Gunfoundry in Hyderabad.
When Hyderabad became a part of Indian Union in 1948, SBH has over 50 branched in all over Telangana. Earlier State Bank of Hyderabad’s original name was Hyderabad State Bank (HSB) but when it was taken over by Reserve bank of India, its name was changed to State Bank of Hyderabad and at the same time it also became a subsidiary of State Bank of India.
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When Andhra Pradesh and Telangana were separated in the year 2014, SBH is the lead bank of Telangana. By the end of 2016 it stood with Rs 2.60 lakh crore with over 19,000 employees from the 2,000 branches. The historic name and the Nijam’s pride, Hyderabad State bank is no more and the name is vanished completely after it’s merging with State Bank of India. However there will be no change in employee roles and their regular work schedule/duty.