As the State Bank of Hyderabad (SBH), which started its life as the Central bank of Nizam's state, today merged with the State Bank of India alongwith other associate banks, it was a sense of loss of identity for some natives of Hyderabad.
"We have a strong bonding with SBH and its iconic building at Gunfoundry here. My father and grandfather had their accounts in the bank. As it enters into an ocean like SBI, we feel a sense of loss of identity," said Anuradha Reddy, convener of the local chapter of Indian National Trust for Art and Cultural Heritage (INTACH).
"I hope the new managers take proper care of the heritage building," Reddy said, adding that INTACH had given an award to the building two years ago.
Many people, including staffers, were seen taking pictures of the building yesterday. They shared this sense of losing the SBH identity, she said.
State Bank of Hyderabad came into existence as Hyderabad State Bank in August 1941. It started as the Central bank of the erstwhile 'Nizam's state', the State of Hyderabad.
The first branch opened at Gunfoundry here on April 5, 1942.
In 1953, the Bank took over the assets and liabilities of Hyderabad Mercantile Bank Ltd. In the same year, it started conducting Government and Treasury business as an agent of Reserve Bank of India.
In 1956, the RBI took it over as its first subsidiary, and its name was changed to State Bank of Hyderabad.
The Bank became a subsidiary of the State Bank of India on October 1, 1959 and it was the largest Associate Bank of State Bank of India.
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