State Bank of Patiala
| Company type | Associate bank (subsidiary) |
|---|---|
| Industry | Banking, Financial services |
| Founded | 17 November 1917 |
| Founder | Bhupinder Singh, Maharaja of Patiala |
| Defunct | 1 April 2017 |
| Fate | Merged with State Bank of India |
| Headquarters | Patiala , India |
Area served | Punjab, Haryana, Himachal Pradesh, Rajasthan, Jammu & Kashmir, Uttar Pradesh, Madhya Pradesh, Delhi, Gujarat, Maharashtra |
| Products | Banking services |
| Parent | State Bank of India (from 1960 until merger) |
State Bank of Patiala, founded in 1917, functioned as an associate bank within the State Bank Group until its integration with State Bank of India on 1 April 2017. At the time of the merger, it maintained a network of 1,445 service points, which included 1,314 branches situated in key urban centers across India, predominantly in Punjab, Haryana, Himachal Pradesh, Rajasthan, Jammu & Kashmir, Uttar Pradesh, Madhya Pradesh, Delhi, Gujarat, and Maharashtra.
History
The Patiala State Bank was established on 17 November 1917 by His Highness Bhupinder Singh, Maharaja of Patiala, with the objective of fostering growth in agriculture, commerce, and industry. Initially serving as both a central and commercial bank for the princely state of Patiala, it began operations with a single branch located at Chowk Fort, Patiala. By 1927, the bank had expanded to five branches, primarily providing short-term loans to grain merchants and traders.
After the creation of the Patiala and East Punjab States Union in 1948, the bank underwent restructuring under the supervision of the Reserve Bank of India and was renamed Bank of Patiala. In 1949, it incorporated both the Bank of Faridkot and Jind Cooperative Bank—institutions serving adjacent princely states—although it eventually ceased its cooperative banking activities.
Starting from 1950, Bank of Patiala extended its reach beyond its initial geographical area by opening a branch in Delhi in 1952 and increasing its presence to 48 offices by 1959. On 1 April 1960, it became a subsidiary entity of State Bank of India and adopted the name State Bank of Patiala. Concurrently, it merged with Kalsia State Bank, which operated a single branch and whose managing director also held the position of State Accountant General.
Logo and slogan
The emblem of State Bank of Patiala features a blue circular design with a small notch at its base, representing completeness and placing the common individual at the core of its operations. This logo was crafted by the National Institute of Design (NID), Ahmedabad, drawing inspiration from Kankaria Lake located in Ahmedabad.
See also
Sources
- State Bank of India
- Banks established in 1917
- Organisations based in Patiala
- Defunct banks of India
- Indian companies established in 1917
- Indian companies disestablished in 2017
- Banks disestablished in 2017
- Companies formerly listed on the National Stock Exchange of India
- Companies formerly listed on the Bombay Stock Exchange
- Patiala State