July 25, 2016 1:43 PM ET

Banks

Company Overview of State Bank of Patiala

Company Overview

State Bank of Patiala provides personal, agriculture and rural, and corporate banking services. It provides deposits, including basic savings bank deposit accounts, open deposits, capital gains accounts, saving bank accounts for students, flexi corporate accounts, corporate liquid term deposits, no frills savings bank accounts, corporate salary package money multiplier saving bank accounts, and tax saving term deposits. The company also provides home equities, home loans, housing loans for purchase of plot of land for the purpose of construction of a house, rents, car loan for new and used vehicles, education loans, loans for earnest money, loans to pensioners, two wheeler loans, career loan...

The Mall

Mall Road

Patiala,  147001

India

Founded in 1917

Phone:

91 17 5239 5629

Fax:

91 17 5221 3294

Key Executives for State Bank of Patiala

Managing Director and Director
Chief Financial Officer and General Manager of Treasury
Chief General Manager and Chief Vigilance Officer
Chief General Manager of Commercial Banking
Chief General Manager of Retail Banking
Compensation as of Fiscal Year 2016.

State Bank of Patiala Key Developments

SBI To Soon Give Detailed Merger Plan

State Bank of India (NESI:SBIN) is expected that they should submit the detailed plan in the next few weeks as a dedicated team from SBI is working on this with nine months to go to complete the merger process involving its associates, State Bank of Travancore (BSE:532191), State Bank of Mysore (BSE:532200), State Bank of Hyderabad Ltd., State Bank of Bikaner & Jaipur (BSE:501061), State Bank of Patiala. SBI is working on details of the amalgamation proposal, which will be given to the government soon for approval. The Cabinet earlier this month gave in-principle approval to merger of the five associate banks and Bharatiya Mahila Bank Limited with the State Bank of India. "The bank has started negotiation process with the six entities after getting in-principle clearance from the Cabinet. Once the amalgamation plan is ready, it will be given to the government for the final nod in line with Section 35 of SBI Act 1955," a government official said.

Cabinet Approves Merger Of 5 Associate Banks With State Bank of India

The Union Cabinet approved the merger of State Bank of Bikaner & Jaipur (BSE:501061), State Bank of Mysore (BSE:532200), State Bank of Patiala, State Bank of Travancore (BSE:532191), Bharatiya Mahila Bank Limited, State Bank of Hyderabad Ltd. with State Bank of India (NSEI:SBIN). State Bank of Mysore hit upper circuit and surged 20% to INR 547.90. State Bank of Travancore was trading 18.1% up at INR 471.5 and State Bank of Bikaner and Jaipur was quoting at INR 583.3, up 16.7% against its previous close.

SBI Started Working On The Framework For The Merger

State Bank of India (NSEI:SBIN) begins work on framework for subsidiaries' merger, State Bank of Bikaner and Jaipur (BSE:501061), State Bank of Travancore (BSE:532191), State Bank of Patiala, State Bank of Mysore (BSE:532200) and State Bank of Hyderabad Ltd. Government submitted a proposal for merging its five subsidiaries and first women-oriented lender Bhartiya Mahila Bank with itself. A team of 15-20 members has been set up and it has started working on the framework for the merger. The team is headed by a general manager and there are a few deputy general managers, reportedly. Managing director V G Kannan said if everything works fine, in 3-4 months the process is likely to begin.

Recent Private Companies Transactions

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