Wednesday January 17, 2018
Home Business State Bank of...

State Bank of Hyderabad (SBH) becomes part of history with its merger with State Bank of India (SBI)

0
//
146
State Bank of India, Chandni Chowk, Delhi. Wikimedia
Republish
Reprint

Hyderabad, April 1, 2017: Seventy-five years after it was set up to manage the currency of Nizams, the State Bank of Hyderabad (SBH) on Saturday became part of history with its merger with the State Bank of India (SBI).

It was the identity and an integral part of the rich legacy of this historic city and one of the last remnants of the Asaf Jahi dynasty of the erstwhile Hyderabad state.

NewsGram brings to you latest new stories in India.

The curtains were drawn on Saturday on the last of the famous symbols built by Mir Osman Ali Khan, the seventh and last Nizam of the then largest and wealthiest princely state.

The bank was a contribution of Osman Ali Khan, the architect of modern Hyderabad who also developed railways, airlines, postal services, High Court, Osmania University, Osmania Hospital, reservoirs, irrigation projects and industry.

Considered world’s richest man of his times, he set up ‘Hyderabad State Bank’ on August 8, 1941.

As the central bank of the princely state, it managed Nizam’s currency — the Osmania Sikka, public debt and commercial banking operations.

Go to NewsGram and check out news related to political current issues.

The bank opened its first branch at Gunfoundry in Hyderabad on April 5, 1942.

When Hyderabad State acceded to the Indian Union in 1948, the bank had nearly 50 branches spread over Telangana and parts of the present day Maharashtra and Karnataka.

The Hyderabad State Bank became State Bank of Hyderabad and was taken over by the Reserve Bank of India in 1956. In 1959, it became a subsidiary of the SBI.

After formation of Telangana in 2014, SBH was the lead bank of the newly created state.

SBH’s headquarters at Gunfoundry was an iconic building and one of the city landmarks.

SBH’s total business stood at Rs 2.60 lakh crore as on December 30, 2016.

Look for latest news from India in NewsGram.

Nothing will change for customers of the bank, which had about 2,000 branches and the life will also be same for its 19,000 employees.

However, for Hyderabadis this change in the identity is a huge loss. “It is a sad day. It is one more deletion from our history,” heritage activist P. Anuradha Reddy told IANS.

She recalled the iconic building was designed by Muhammad Fayazuddin, who was Hyderabad state architect and India’s first town planner, who designed many other lanmark buildings in the city.

Reddy points out how Hyderabad is losing one institution after the other having strong identity with the city and its history.

Deccan Airways started by Hyderabad State was also absorbed into Indian Airlines Corporation.

“My father Sreeram Bhoopal who was from Hyderabad Civil Service had an account in Hyderabad Bank. It had a unique system where one can deposit his valuables in safety box even during night time and the next day move it to his bank locker,” said Reddy, a member of India National Trust for Art and Cultural Heritage.

“The development has come as a shock for us,” said Mohammad Safiullah, a city historian who was planning an exhibition to mark platinum jubilee of the bank.

Deccan Heritage Trust wanted to display its collection of currency of Nizam and India.

Safiullah feels sad that the name of Hyderabad has been dropped for forever from the bank, which had strong link to the city and its history. (IANS)

Click here for reuse options!
Copyright 2017 NewsGram

Next Story

Mahalaya: Beginning of “Devipaksha” in Bengali Celebration of ‘Durga Puja’

“Mahalaya” is the auspicious occasion that marks the beginning of “Devipaksha” and the ending of “Pitripaksha” and heralds the celebration of Durga Puja

0
//
1623
Mahalaya morning in Kolkata. Flickr
  • Mahalaya 2017 Date: 19th september.
  • On Mahalaya, people throng to the holy river Ganges in order to pay homage to their ancestors and forefathers; which is called ‘Torpon’
  • Mahalaya remains incomplete without the magical chanting of the scriptural verses from the ‘Chandi Kavya’ that is broadcasted in All India Radio
  • The magic is induced by the popular Birendra Krishna Bhadra whose voice makes the recitation of the “Chandi Kavya” even more magnificent

Sept 19, 2017: Autumn is the season of the year that sees the Hindus, all geared up to celebrate some of the biggest festivals of India. The festive spirit in the Bengalis all enthused to prepare for the greatest of the festivals, the ‘Durga Puja’.

About Mahalaya:

Mahalaya is the auspicious occasion that marks the beginning of “Devipaksha” and the ending of “Pitripaksha,” and this year it is celebrated on September 19.

Observed exactly a week before the ‘Durga Puja’, Mahalaya is the harbinger of the arrival of Goddess Durga. It is celebrated to invoke the goddess possessing supreme power! The goddess is invited to descend on earth and she is welcomed with devotional songs and holy chants of mantras. On this day, the eye is drawn in the idols of the Goddess by the artisans marking the initiation of “Devipaksha”. Mahalaya arrives and the countdown to the Durga Puja begins!

NewsGram brings to you latest new stories in India.

The day of Mahalaya bears supreme significance to the Bengalis. The day is immensely important because on this day people throng to the holy river Ganges in order to pay homage to their ancestors and forefathers. Clad in white dhotis, people offer prayers and take dips in the river while praying for their demised dear ones. The ritual is popular as “Torpon”.

Mahalaya
An idol-maker in progress of drawing the eye in the idol of the Goddess. Wikipedia

As per Hindu myth, on “Devipaksha”, the Gods and the Goddesses began their preparations to celebrate “Mahamaya” or Goddess Durga, who was brought upon by the trinity- Brahma, Vishnu, and Maheshwara; to annihilate the fierce demon king named Mahishasura. The captivating story of the Goddess defeating the demon got popularized with the goddess being revered as “Durgatinashini” or the one who banishes all the evils and miseries of the world. The victory of the Goddess is celebrated as ‘Durga Puja’.

Go to NewsGram and check out news related to political current issues.

Mahalaya remains incomplete without the magical chanting of the scriptural verses from the ‘Chandi Kavya’ that is broadcasted at dawn in All India Radio in the form of a marvelous audio montage enthralling the souls of the Bengalis. Presented with wonderful devotional music, acoustic drama, and classical songs- the program is also translated to Hindi and played for the whole pan-Indian listeners.

Look for latest news from India in NewsGram.

Mahalaya
Birendra Krishna Bhadra (1905-1991). Wikipedia

The program is inseparable from Mahalaya and has been going on for over six decades till date. The magic is induced by the popular Birendra Krishna Bhadra whose voice makes the recitation of the “Chandi Kavya” even more magnificent! He has been a legend and the dawn of Mahalaya turns insipid without the reverberating and enchanting voice of the legendary man.

Mahalaya will keep spreading the magic and setting the vigor of the greatest festival of the Bengalis- the Durga Puja, to worship the supreme Goddess, eternally.

                 “Yaa Devi Sarbabhuteshu, Shakti Rupena Sanhsthita,

                     Namastaswai Namastaswai Namastaswai Namo Namaha.”

– by Antara Kumar of NewsGram. Twitter: @ElaanaC