State Bank of Travancore
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State Bank of Travancore is the premiere bank in the Indian state of Kerala, with over 584 branches (2009) across the state. The bank is an associate of the State Bank Group and offers core banking as well as internet banking services.[br]
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State Bank of Travancore: Company Information
State Bank of Travancore (SBT) began operations in 1945 in the then princely state of Travancore. Initially, the bank used to perform government treasury and foreign exchange work, along with commercial banking services. The registered head office of the bank was located in Madras (now Chennai). It was then called as Travancore Bank Ltd.
In 1960, the bank became an associate of the State Bank Group, the largest public sector bank in India. In the same year, its name was changed to State Bank of Travancore and its head office shifted to Trivandrum, the capital city of the state of Kerala.
According to the 2009 data, the bank operates 726 branches and over 420 ATMs across 16 states of India. For quick service delivery, all the branches are interconnected through Core Banking Solution (CBS) technology. According to the 2008-09 data, the bank’s total income was over Rs66 thousand crores.
State Bank of Travancore: Products and Services
State Bank of Travancore classifies its products and services under the following categories:
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Personal banking: This includes deposits, saving accounts, lending, credit cards and provident funds.
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NRI services: The bank offers deposits, insurance, foreign exchange and remittance services for non-resident Indians (NRIs).
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Business banking: This includes services such as cash management, commercial loans, export and import finance are available for corporate as well as small to medium enterprises (SME).[br]
State Bank of Travancore: Priority Sector Lending
Being in the public sector, State Bank of Travancore has dedicated products and services for social banking. Under priority sector lending, the bank has the following schemes:
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For SSI: The bank encourages small scale industries (SSI) through strategic consultancy and low-interest rate lending. The bank has specialist SSI branches in targeted areas of Kerala.
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For agriculture: Rural and semi-urban branches of the bank cater to the financial needs of the agriculture sector. It also has fully dedicated agriculture branches in some parts of the state. The bank has considerable micro finance activities for qualified rural population.
State Bank of Travancore has special schemes for women and senior citizens. It offers the ‘Janapriya Savings Account’, with no limit on the minimum balance for the financial inclusion of the underprivileged class.
