State Bank of Mysore is a public sector bank located in India. It has its headquarters at Bangalore. The bank is now one of those 5 banks which is merged with the State Bank of India from the year 2017. This bank however was established in the year 1913 with name as The Bank of Mysore Ltd . The bank was founded by Maharaja Krishna Raja Wadiyar IV whose head committee was handled by the Engineer-Statesman, Bharat Ratna Sir M.Visvesvaraya. In the year 1953, the bank was then considered as the agent of Reserve Bank of India to undertake Government business
Listing and Revenue
|Net Income||₹276 Crores|
|Total Assets||₹3988 Crores|
Products and Services
With 976 branches and 10627 employees, State Bank of Mysore till date has managed to offer its valued customers with best quality of service and products. It offers card services, ATM services, internet banking, NRI services, financial advisory services, cash management services, capital market services, and investment banking services among others.
In the year 1913, State Bank of Mysore was established as 'Bank of Mysore Ltd with an authorised capital of Rs. 20.00 lakhs. The operations of the bank started in the same year.
In the year 1953 the State Bank of Mysore was hired as an Agent of Reserve Bank of India for Government business & treasury operations.
In the year 1959, the bank constituted as State Bank of Mysore and also Subsidiary of State Bank of India
In the year 1992, a new housing scheme called 'ASHRAYA' and a new rural & cottage industry scheme called 'VISHWA' was introduced by the bank.
In the year 1994, slack season credit policy and busy season credit policy were announced by Reserve Bank
In the year 2001, the bank had opened a foreign exchange cell at its Hirehally Industrial estate branch in Tumkur district. It focused on providing support to small-scale industrialists for managing the foreign exchange transactions.
In the year 2013, the bank accomplished its Centenary year while in 2017, the bank was merged with State Bank of India on 1 April.
The Bank has acquired two Regional Rural Banks, Cauvery Grameena Bank & Kalpatharu Gameena Bank. These were the banks that were merged to form Kaveri-Kalpatharu Gramin Brank. It had the headquarters at Mysore with more than 250 branches for growth of agriculture & rural industries.
Awards and Recognition
No Information is available
State Bank of Mysore became a subsidiary of the State Bank of India under the State Bank of India (subsidiary Banks) Act 1959. The bank is now an Associate Bank under State Bank Group holding 92.33% of shares.