Profile of State Bank of HyderabadState Bank of Hyderabad is one of the 28 public sector banks in India.Originally, the State Bank of Hyderabad was known as the HyderabadState Bank which was incorporated on 25
August, 1941 with a capitalof Rs.75 lakhs.
For this purpose, a special act called, “The Hyder
State Bank Act”, (Act No
:xix of 1930 F) was enacted by the NizamsGovernment of the Princely State of Hyderabad. The princely state of Hyderabad was constituted by Telangana region of present AndhraPradesh, Marathwada region of present Maharasthra and HyderabadKarnataka region of present Karnataka states. It was constituted toregulate the circulation of the currency, to maintain its stability andsecurity, to facilitate the payment of money inside and outside andoutside, to provide credit for the economic requirements of the countryand to support in a better manner agriculture, trade, commerce andindustry. Thus, the following were the objectives of establishing theHyderabad state bank.a.
To develop banking and afford remittance facilities.b.
To manage the state
s public debt and currency.c.
To undertake the cash work of the Government.The Hyderabad state Bank was opened t the public on April 5, 1942. Itopened its first branch at Warangal in the year 1944. In the evolution of the banking, the following important developments have taken place.