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State Bank of Hyderabad

State Bank of Hyderabad is a subsidiary of the State Bank of India and is currently the largest Associate Bank of State Bank of India. State Bank of Hyderabad was constituted as Hyderabad State Bank on 8.8.1941 under Hyderabad State Bank Act, 1941. The first branch of the Bank was opened at Gunfoundry, Hyderabad on 5th April, 1942.

State Bank of Hyderabad had the unique distinction of being the central bank of the erstwhile State of Hyderabad, covering present-day Telangana region of Andhra Pradesh, Hyderabad-Karnataka of Karnataka and Marathwada of Maharashtra, to manage its currency – Osmania Sikka and public debt apart from the functions of commercial banking.

In 1953, State Bank of Hyderabad took over the assets and liabilities of the Hyderabad Mercantile Bank Ltd. In 1956, the Bank was taken over by Reserve Bank of India as its first subsidiary and its name was changed from Hyderabad State Bank to State Bank of Hyderabad. In 1959, State Bank of Hyderabad became a subsidiary of the State Bank of India.

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