- Science & Tech
Seventy two years after coming into being in Kerala, the curtains will come down on the State Bank of Travancore (SBT) on Saturday following its merger with parent State Bank of India (SBI).
Besides the State Bank of Travancore, the State Bank of Bikaner and Jaipur, State Bank of Mysore, State Bank of Patiala and State Bank of Hyderabad will also be merged with the State Bank of India, and the assets of these banks will be transfered to the parent bank.
“It is quite a matter of sentiment that after working for the past 35 years in SBT. We will work in another name from Apr 1,” a senior SBT official said.
The branches of SBT will be renamed SBI from Saturday. The official, however, assured customers that they need not worry, adding that there would not be any change in their accounts, passbooks and cheque books.
The State Bank of Travancore has about 14,000 employees on its payroll, he added.
In the honour of ‘Kerala’s own bank’, the state Postal Department will also release a post cover with pictures of SBT emblem.