State Bank of Bikaner & Jaipur

The genesis of State Bank of Bikaner & Jaipur dates back to the year 1943-44, when the Bank of Bikaner Ltd. and the Bank of Jaipur Ltd. came into existence. In 1960, both banks were incorporated as subsidiaries of State Bank of India and named as State Bank of Jaipur and State Bank of Bikaner. On January 1, 1963, both banks were merged into one entity viz. State Bank of Bikaner & Jaipur. The constitution, capital, management and other matters pertaining to the Bank are governed by the provisions of SBI (Subsidiary Banks) Act, 1959.

75% of the shares of SBBJ are held by SBI and the remaining by institutions and general public. The Bank took over the business of the Govind Bank Pvt. Ltd, Mathura on 25th April, 1966. SBBJ went public in the year 1997 – 98 with an issue of 12.21 lakh shares of 100 each at a premium of 440/-. SBBJ is the only public sector bank with headquarter in Rajasthan.

At the time of incorporation, the Bank had a business of 45 crore, net profit of 7.5 lakh and a network of 124 branches (96 in Rajasthan). By March 2013 the business of the Bank increased to 1,30,590 crore, net profit stood at 730.24 crore.

The number of branches increased to 1049 (862 in Rajasthan) as on 30/09/2013. SBBJ had sponsored three Regional Rural Banks viz. Marwar Gramin Bank (set up in 1976), Sriganganagar Kshetriya Gramin Bank (1984) and Bikaner Kshetriya Gramin bank (1985). These were merged into single RRB viz. MGB Gramin Bank in June 2006. On 25/02/2013 the MGB Gramin Bank (RRB sponsored by SBBJ) & Jaipur Thar Gramin Bank (RRB sponsored by UCO Bank) were amalgamated into a single Regional Rural Bank named ‘Marudhara Gramin Bank’ sponsored by SBBJ with Head office at Jodhpur. The Bank shoulders Lead Bank responsibility in 9 districts of the State.

>>State Bank Of Bikaner and Jaipur Company History and Annual Growth Details

YEAR EVENTS

1944

• The Bank was incorporated at Bikaner. The Bank transacts general banking business of every description. The Bank also transacts Government Treasury work. The name of the Bank at the time of incorporation was The Bank of Bikaner Ltd.

1960

• The Bank became a subsidiary of the State Bank of India under the State Bank of India (Subsidiary Bank) Act, 1959. The Bank assists small scale industries and co-operatives and grants advances against warehouse receipts.

1963

• The State Bank of Jaipur with its 49 offices was taken over by the Bank and the name of the Bank was changed to the State Bank of Bikaner and Jaipur. The business of the Govind Bank (Pvt.) Ltd., Mathura was taken over by the Bank with effect from 25th April, 1966.
• The issued capital was raised to Rs 80 lakhs to enable the compensation to be paid to the shareholders of the State Bank of Jaipur upon its amalgamation with the Bank.

1968

• The Bank formulated a scheme to render direct finance to small business which covered the entire spectrum of financial assistance to the agriculturists.
• Under the scheme of provision of credit to transport operators, financial assistance was extended to operators of taxis and auto rickshaws for meeting working capital requirements and for purchase of new or second – hand vehicles.

1984

• The Bank opened another Regional Rural Bank in Ganganagar district under the name Ganganagar Kshetriya Gramin Bank.

1985

• A Bank named the Bikaner Kshetriya Gramin Bank was opened in Bikaner district. 1995 – 15,60,000 right equity shares issued (prem. of Rs 300 per share) in prop. 3:4.

1997

• The Bank offered 13,60,000 shares at a premium of Rs 440 per share. Of which 1,38,800 shares were offered to SBI, 1,22,100 shares were offered to employees, 1,52,700 shares were offered to NRIs, OCBs, FIIs, and the balance 9,46,400 shares were offered to public. All were accepted.
• The State Bank of Bikaner & Jaipur (SBBJ), an associate bank of the State Bank of India (SBI), is entering the capital market with a maiden initial public offering (IPO) to augment its capital base and its long-term resources.
• The face value of the share is Rs 100. The shares will be listed at the Jaipur and Mumbai stock exchanges, in addition to National Stock Exchange.
• The State Bank of Bikaner and Jaipur is the latest public sector bank come to the primary market with a Rs 73.44 crore issue. The banks is offering Rs 100 each for cash at a premium of Rs 440 per share.
• The equity issue of State Bank of Bikaner and Jaipur (SBB&J) has been oversubscribed by 1.5 times.
• During the year, the bank will also install an ATM at one of its branches. 1998
• The State Bank of Bikaner and Jaipur (SBBJ) had issued 12.21 lakh shares at a premium of Rs 440, IndusInd Bank had offered 4 crore equity shares at Rs 45.
• State Bank of Travancore and State Bank of Bikaner and Jaipur shares’ dematerialisation is facing a roadblock as a State Bank of India (Subsidiaries Banks) Act, 1959, clause says that no person can acquire shares in excess of 200 units in any of the bank’s subsidiaries.

1999

• The bank is gearing itself to improve efficiency by technological upgradation, refinement of skills and motivating employees to improve upon services and products.

2002

• State Bank of Bikaner & Jaipur has informed about that Shri S D S Minhas has taken over as Director of the Bank in place of Shri V P Grover who has since ceased to be a Director of the bank wef March 20, 2002.

2003

• Appoints Mr. K R Srikantan as Managing Director.
• Mr.J.B Bhoria takes over as the Director of the Bank as nominee in place of Mr Karuna Sagar.
• Shri A R Samajdar has since ceased to be a Director of the bank on account of his reaching superannuation on September 30, 2003.

2004

• State Bank Of Bikaner And Jaipur has informed that Shri. Yashovardhan Sinha, Dy. General Manager (A&S), State Bank of India has taken over as Director of State Bank of Bikaner and Jaipur, in terms of Section 25(1) (c) of the State Bank of India (Subsidiary Banks) Act, 1959 with effect from January 1, 2004.
• Further informed that, Shri. S. Ramaswami, General Manager, Reserve Bank of India, Rural Planning & Credit Deptt. Bhopal has taken over as Director of the Bank under Clause (b) of Subsection (1) of Section 25 of State Bank of India (Subsidiary Banks) Act, 1959 with effect from January 5, 2004 in place of Shri. J.B.Bhoria, Regional Director, RBI, Jammu.

2007

• State Bank of Bikaner & Jaipur has appointed Shri. Ashok Kumar Shukla, Special Asstt., of the Bank, Birhana Road, Kanpur as a workmen director for a period of three years on the Board of the Bank in place of Shri. L N Jalani by Central Govt in terms of clause (ca) of sub-section 25 read with sub section (2A) of section 26 of State Bank of India, (Subsidiary Banks) Act 1959.
• State Bank of Bikaner & Jaipur has informed that Shri. Amrik Singh has been appointed on the Board of the Bank in place of Shri. M K Malhotra with immediate effect in terms of Section 25(1)(e) of the State Bank of India (Subsidiary Banks) Act, 1959.
• The Company has splits its face value from Rs100/- to Rs10/-.

2009

• State Bank of Bikaner and Jaipur (SBBJ) slashed its benchmark-lending rate by 0.5 per cent to 12.25 per cent. The bank revised its Benchmark Prime Lending Rate (BPLR) from 12.75 per cent to 12.25 per cent.

2010

• State Bank of Bikaner declared a dividend of 144 % i.e. Rs 14.40 per share
• Mrs. Aruna Nitin Dak has been appointed as Company Secretary of the company

2011

• Shri D. K. Jain has been appointed as Workmen Employee Director on the Board of State Bank of Bikaner & Jaipur.
• MCS LIMITED, Delhi is appointed as Registrar and Share Transfer Agent (RTA) of the State Bank of Bikaner & Jaipur.
• State Bank Of Bikaner and Jaipur Issues Rights in the Ratio of 2:5 2012 -State Bank Of Bikaner have declared interim dividend at the rate of 145% being Rs. 14.50/- per share on equity shares of Rs. 10/- each. -Smt. Malvika Sinha, Chief General Manager, Reserve Bank of India, New Delhi as RBI Nominee Director on the Board of State Bank of Bikaner & Jaipur

2013

• The Bank appointed S Vishvanathan, MD & GE (A&S), State Bank of India, Mumbai, as Director on the Board of the Bank.
• The Bank has appointed Shri B Sriram as new Managing Director of the Bank
• The Bank revised the interest rates on Bulk Deposits for Rs. 1 Crore and above upto Rs. 10 Crore.

2014

• The Bank appointed B Ramesh Babu, CGM (A&S) State Bank of India as Director on the Board.
• State Bank of Bikaner and Jaipur has appointed Shri Jyoti Ghosh as the Managing Director of the Bank.
• The State Bank of Bikaner and Jaipur has revised its FCNR(B) rates for fresh deposits and renewals.

2015

• Launching Of Sbbj Mudra Card
• Inauguration Of Newly Opened Branch At Hazaribagh (Jharkhand) Of Sbbj
• Sbbj Goes Green With Solar Powered Atms -Sbbj Celebrates Foundation Day With A Colorful Cultural Program -Inaguration Of E-Lobby At Bank’S Gandhi Nagar Branch And Jaipur Airport

2016

• SBBJ donates to charitable Trusts under its Corporate Social Responsibility Initiative
• SBBJ conducted 101 e-Rickshaw loan distribution programme at SBBJ Head office -SBBJ provided Rs.1.00 Crore to Mukhya Mantri Jal Swawlamban Abhiyaan
• Launching of SBBJ Mudra Card IFSC CODE CURRENCY FD CALCULATOR Select Bank Select State Select City Select Branch BSEMar 30, 3:59 pm 58,683.99 740.34 1.28% NSEMar 30, 3:54 pm 17,498.25 172.95 1% More Information on State Bank Of Bikaner and Jaipur State Bank Of Bikaner and Jaipur Tools Bulk Deals State Bank Of Bikaner and Jaipur Company Details Company Profile Company History Management Team Capital Structure Product Mix Banker/Auditor/Registrar Company History Rights BSE Price History NSE Price History State Bank Of Bikaner and Jaipur Key Financial Ratios Ratios State Bank Of Bikaner and Jaipur Results Quarterly Results Half Yearly Results Nine Months Results Annual Results State Bank Of Bikaner and Jaipur Financial Data Audited Results Cash Flow Balance Sheet State Bank Of Bikaner and Jaipur Reports Accounting Policies Auditors Report Directors Report Notes To Account State Bank Of Bikaner and Jaipur Corporate Announcements Book Closure Dividend Board Meetings.