State Bank of Hyderabad joins NPCIs NACH Debit Platform
State Bank of Hyderabad with its Head Office in Hyderabad(One of my
favourite’s cities) has joined the NPCIs NACH Debit Platform
The origin of State Bank of Hyderabad can
be traced back to 1941 when it was constituted as Hyderabad State Bank on
8.8.1941 under Hyderabad State Bank Act, 1941.
The Bank started with the unique
distinction of being the central bank of the erstwhile State of Hyderabad,
covering present-day Telangana region of Andhra Pradesh, Hyderabad-Karnataka of
Karnataka and Marathwada of Maharashtra, to manage its currency – Osmania Sikka
and public debt apart from the functions of commercial banking.
The first branch of the Bank was opened at
Gunfoundry, Hyderabad on 5th April, 1942.
The present day Headquarters of the Bank is
housed in a magnificent building at
Gunfoundry, Hyderabad.
The Bank has 1800 physical touch points
spread across India. It is also the largest Associate Bank of State Bank of
India.
As
part of the NACH Debit platform, SBH customers would be able to benefit from
Safe eTransactions.
State
Bank of Hyderabad in turn would be benefited by high float balances in Current
and Saving Bank accounts.
In
case, SBH desires to be a Sponsor Bank for billers, it can reap the benefits of
high balances in the billers account. Based on the cash
flows of the billers, it can also offer Overdraft facilities. This would be a
win-win situation for both the Assets and Liabilities side of the Bank’s
balance sheet.
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