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| /Heritage building state bank of Mysore, Bengaluru. commons.wikimedia.org/ |
The104-year-old State bank of Mysore merged with State Bank of India a few years ago. Often known as the ‘Mysore Bank’ in the Old Mysore region, its founder was then the ruler of Mysore Maharajah Nalwadi Krishnaraja Wadiyar in 1913. It was Dewan Sir M. Visvesvaraya who advised the ruler to start the bank so that the banking operations would be helpful to the people of Mysore kingdom.
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| State bank of Mysore, Head office, Bengaluru, KA. starofmysore.com |
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| State bank of Mysore, heritage building, bangaluru..philindiastamps.com |
Above image: In the recent past in December 2016, a first-day cover (stamp issued on a cover, postcard or stamped envelope) of the Bank of Mysore’s Head Office. This institution, founded by Sir M Visvesvarya under the patronage of Nalwadi Krishnaraja Wadiyar, later merged with SBI................
SBM was the agent of Reserve Bank of India (RBI) in 1953 to undertake government business and treasury operations. In 1960, it began functioning as the subsidiary of State Bank of India under the SBI Subsidiary Banks’ Act 1959.
SBM's head office is on Kempegowda Road in Bengaluru, and there was a proposal to convert into ‘Mysore Bank Museum.’ The Museum would house all historic documents of the bank since its inception including the first share certificate to some of the key documents about economic and business growth of the region.
The State bank of Mysore had 1,087 branches across the country as of 2016 and the total business turnover exceeded Rs.1.33 lakh crore toward the end of that year. State Bank of Travancore, State Bank of Hyderabad, State Bank of Patiala were also merged with SBI
https://starofmysore.com/goodbye-sbm-welcome-sbi/
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