State Bank of Saurashtra (SBS)

I am looking for the details about the State Bank of Saurashtra (SBS). Please help me by providing me the information.

State Bank of Saurashtra was incepted in 1948. Now the bank is one of the Associate Banks of State Bank of India (SBI).


Branches:
The State Bank of India took over State Bank of Saurashtra on 13 August 2008 under the State Bank of India Act, 1959. At this time SBS had 423 branches located 15 states and the Union Territory of Daman and Diu.

Products and Services:
Life Insurance
Mutual Funds
Deposit Schemes for Senior Citizens
Government Business
Deposit Schemes
NRI Schemes
Debit and Credit Cards
Personal Loans

The State Bank of Saurashtra has many ATMs. Here are the addresses of its branches:

Shop #4 Near Manali Optic
SBS-Raiya Road, ApoorvaComplex, Shop #4 Near Manali Optic
Pin code : 360001
City : Rajkot
District : Rajkot
State : Gujarat

Karanpara
SBS-Karanpara, Kunj Complex, Karanpara
Pin code : 360001
City : Rajkot
District : Rajkot
State : Gujarat

Aksar Marg Corner
SBS-Opal Plaza, Shop #8, Opal Plaza Amin Marg, Aksar Marg Corner
Pin code: 360001
City: Rajkot
District: Rajkot
State: Gujarat

Bhavnagar University
SBS-University Road, Bhavnagar, University Road, Bhavnagar University
Pin code: 360001
City: Rajkot
District: Rajkot
State: Gujarat

Near Gita Petrol Pump Kuvadva Road
SBS-Gaikwadiplot, Shop #1 D. H. Chambers, Near Gita Petrol Pump Kuvadva Road
Pin code : 360005
City : Rajkot
District : Rajkot
State : Gujarat

Address:
State Bank of Saurashtra
Nilambaug Chowk
Bhavnagar-364 001(Gujarat)
India
Phone: +91 0278 2431809, 2510949, 2521280
Telefax: +91 278 2431809

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Hello sir I want to know about the State Bank of Saurashtra (SBS) so please provide me the information of merging of it with SBI.

State Bank of Saurashtra (SBS) was merged with State Bank of India in 2007. It was one of the seven associates of SBI.

SBS merge with SBI

SBS was the smallest of the seven associates of SBI.

Central Board of State Bank of India on August 25 2007 merges State Bank of Saurashtra with itself.

Merger is subject to approval of the government and Reserve Bank in accordance with State Bank of India Act, 1955.

In a communication to the Bombay Stock Exchange, SBI said its central board on August 25 approved the merger, subject to approval of the government and Reserve Bank in accordance with State Bank of India Act, 1955.

About the SBS

SBS has 460 branches and the merger would help eliminate duplication of branches in the same area.

Its net profit rose 45 per cent to Rs 87.4 crore in 200607.

The bank has paidup equity capital of Rs 314 crore.

The total deposits stood at Rs 15,804 crore while total advances were at Rs 11,081 crore.

Other Associates of SBI

State Bank of Travancore,
State Bank of Mysore,
State Bank of Bikaner and Jaipur,
State Bank of Hyderabad,
State Bank of Indore
State Bank of Patiala

Fitch affirms SBI ratings post merger announcement

Make word file of it.

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Answered By StudyChaCha Member