The Kashinath Seth Bank was an Indian bank based in Uttar Pradesh.[1] The bank was founded in the year 1947 in Uttar Pradesh and was eventually merged with the State Bank of India in 1995.[2]
| Company type | Indian public sector bank |
|---|---|
| Industry | Financial services |
| Founded | 3 September 1947 |
| Defunct | 1 April 1995 |
| Fate | Merged with the State Bank of India |
| Successor | State Bank of India |
| Headquarters | , |
Area served | Uttar Pradesh |
| Products | Deposits, personal banking, commercial and industrial banking, agricultural banking, SME banking |
| Services | Banking services, Trade Finance |
Number of employees | 500 (1995) |
| Parent | State Bank of India |
While operating the bank was a scheduled co-operative bank.[3]
History
editFounding
editThe bank had been founded in 1947 in Uttar Pradesh.[1][2] The bank obtained its banking license from the Reserve Bank of India in 1958.[4]
Operating
editWhile the bank was operating it had 30 branches and 500 employees. After merging with the State Bank of India in 1995, many of the branches of the bank were closed and finally there were only 12 operational branches of the original bank left.[1][2][3]
Final years
editIn 1995, the bank was acquired by the State Bank of India, which at the time was under pressure from the Reserve Bank of India.[1][4][2][3]
Legacy
editThe bank is notable for having played a major role in the history of the financial ecosystem of Uttar Pradesh state.[5]
The bank is also notable for being one of the precursors of the State Bank of India.[1][2][6]
See also
edit
References
edit- ^ a b c d e "Sbi Seeks Rs 62-Crore Compensation From Rbi Over Kashinath Bank". Business standard.
- ^ a b c d e "TRENDS OF MERGERS AND ACQUISITIONS IN BANKING SECTOR OF INDIA". www.janataweekly.org.
- ^ a b c Kumar, Parmod (2006). Banking Sector Efficiency in Globalised Economy. Deep & Deep Publications. ISBN 978-81-7629-828-5.
- ^ a b "Kashinath Seth Bank of Uttar Pradesh". www.indiankanoon.org.
- ^ "B.COM Project work and Customer Satisfaction" (PDF). www.gdcchebrole.ac.in.
- ^ Kumar, Parmod (2006). Banking Sector Efficiency in Globalised Economy. Deep & Deep Publications. ISBN 978-81-7629-828-5.