State Bank of Patiala
{{Short description|Former associate bank of State Bank of India}}
{{Use dmy dates|date=October 2015}}
{{Use Indian English|date=October 2015}}
{{More citations needed|date=April 2014}}
{{Infobox company
| name = State Bank of Patiala
| logo = File:SBI-logo.svg
| type = Public
| traded_as = {{Unbulleted list |{{BSE was|501061}} |{{NSE was|SBP}} }}
| foundation = Patiala, 1917
| defunct = 2017
| location = Head Office,
The Mall,
Patiala 147 002 India
| key_people = {{ubl|Sh. Rajnish kumar (chairman)|Shri. S. A. Ramesh Rangan (managing director)}}
| industry = {{ubl|Banking|Capital Markets and allied industries|Insurance}}
| fate = Merged in State Bank of India in 2017
| products = {{ubl|Investment vehicles|Loans|Savings}}
| revenue = {{nowrap|{{profit}} {{INRConvert|173000|c}} (2013){{cite web |url=http://www.bseindia.com/bseplus/AnnualReport/500112/5001120313.pdf |title=Annual Report 2012–13 |publisher=SBI |date=23 May 2013 |access-date=10 October 2013}}{{cite news|url=https://money.cnn.com/magazines/fortune/global500/2013/snapshots/7646.html |title=Fortune 'Global 500' 2013:State Bank of India |access-date=10 October 2013 | work=CNN}}}}
| operating_income =
| net_income = {{nowrap|{{profit}} {{INRConvert|11358.06|c}} (2013)}}
| assets = {{nowrap|{{profit}} {{INRConvert|116709.10|c}} (2013)}}
| equity = {{nowrap|{{profit}} {{INRConvert|203417.50|c}} (2013)}}
| num_employees = 13178
| parent = State Bank of India
}}
State Bank of Patiala, founded in 1917, was an associate bank of the State Bank Group. It merged with State Bank of India on 1 April 2017. At the time of its merger, State Bank of Patiala had a network of 1445 service outlets, including 1314 branches, in all major cities of India, but most of the branches were located in the Indian states of Punjab, Haryana, Himachal Pradesh, Rajasthan, Jammu & Kashmir, Uttar Pradesh, Madhya Pradesh, Delhi, Gujarat and Maharashtra.
History
His Highness Bhupinder Singh, Maharaja of Patiala State, founded the Patiala State Bank on 17 November 1917 to foster growth of agriculture, trade, and industry. The bank combined the functions of a commercial bank and those of a central bank for the princely state of Patiala. The bank had one branch at Chowk Fort, Patiala, Undivided India. By 1927, it had five branches. It primarily engaged in providing short-term credit to grain dealers and other traders.{{sfnp|Walia|1972|p=39}}
The formation of the Patiala and East Punjab States Union in 1948 led to the bank being reorganized, being brought under the control of the Reserve Bank of India, and being renamed Bank of Patiala. In 1949, the Bank absorbed Bank of Faridkot and Jind Cooperative Bank,Bankers Almanac (1995), Volume 2, p.3146.{{efn|Jind Cooperative Bank was opened on 6 December 1922, at Bada Chowk, Sangrur.}} though it subsequently gave up the cooperative business. The two acquired banks had been operating in neighboring princely states.
In 1950, Bank of Patiala started opening offices outside Patiala and East Punjab States Union. In 1952 it established a branch at Delhi. By 1959 the bank had 48 offices.{{sfnp|Ray|2009|p=934}}
On 1 April 1960 Bank of Patiala became a subsidiary of State Bank of India and was renamed State Bank of Patiala. In April it absorbed Kalsia State Bank.{{efn|Kalsia State Bank had only one branch and the managing director was also the State Accountant General.{{sfnp|Walia|1972|p=39}}}}
Logo and slogan
The logo of the State Bank of Patiala is a blue circle with a small cut in the bottom that depicts perfection and the small man the common man – being the center of the bank's business. The logo came from National Institute of Design (NID), Ahmedabad, and it was inspired by Kankaria Lake, Ahmedabad.{{Cite web|url=https://www.deshgujarat.com/2014/02/19/sbi-logo-was-inspired-by-kankaria-lake/|title="SBI bank logo was inspired by Kankaria lake"|date=19 February 2014|website=Deshgujarat.com|access-date=18 April 2021}}
See also
{{Portal|Banks}}
Notes
{{notelist}}
References
{{Reflist}}
Sources
- {{cite book|title=The evolution of the State Bank of India: The era from 1995 to 1980 |volume=4 |last=Ray|first=Abhik |year=2009 |publisher=Penguin Books India}}
- {{cite book |title=Praja Mandal Movement in East Punjab States |last=Walia |first=Ramesh |publisher=Department of Punjab Historical Studies, Punjabi University |year=1972}}
{{Banking in India}}
{{SBI}}
{{Authority control}}
Category:Banks established in 1917
Category:Organisations based in Patiala
Category:Defunct banks of India
Category:Indian companies established in 1917
Category:Indian companies disestablished in 2017
Category:Banks disestablished in 2017
Category:Companies formerly listed on the National Stock Exchange of India
Category:Companies formerly listed on the Bombay Stock Exchange