After SBH merger, Abids new SBI address for Andhra, Koti for Telangana
HYDERABAD: After the merger of the State Bank of Hyderabad (SBH) with the State Bank of India (SBI), the main office of the SBH at Abids will now function as the headquarters of SBI, Andhra Pradesh circle.
According to the officials, the SBI main office located at Koti will now house the Telangana circle office of the bank. While the erstwhile SBH had about 700 employees, the SBI main office has around 1200 staff. The new SBI Telangana circle will take control of the branches of associate banks - State Bank of Bikaner and Jaipur (SBBJ), State Bank of Mysore (SBM), State Bank of Travancore (SBT), State Bank of Hyderabad (SBH) and State Bank of Patiala (SBP) - in the state. These banks have been merged with the SBI.
Though the official merger of banks took place and two new circles have been created, they will begin to actually function only from May. "Dates have been given for all the associate banks to merge their data with that of SBI. Our bank's turn comes last. It will happen in the last week of May," a top manager of the erstwhile SBH said.
The Reserve Bank of India (RBI) has already issued notification making SBI as the lead bank for Telangana. It will head the State Level Bankers' Committee (SLBC) in place of the SBH. Sources in the banks said options will be given for the employees for transfers among the erstwhile associate banks. SBI has given VRS option for the employees for which the exercise is going on. Meanwhile, officials said shifting to Amaravati is a long shot from now.
Source:TOI
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