State Bank of Travancore (SBT) was a successor to Travancore Bank Limited, set up in 1945 by the royal family of erstwhile Travancore with an authorised capital of ₹2 crore, a humungous sum by any standards, with a network of branches in large cities across the country.
In today’s world of mergers and acquisitions when, on being taken over by competitors, reputed megabrands like Jaguar LandRover, Ranbaxy and Idea Mobile become mere footnotes in a matter of days, merger of a subsidiary with a parent is a non-event unlikely to cause any ripples. But, in the case of the merger of SBT with State Bank of India (SBI), there was a strident outcry from not just the employees, customers and shareholders who are stakeholders, but the general public, social activists and politicians as well.
SBT gives way to State Bank of India
Why did social activists and politicians of all hues close ranks and create a ‘Save SBT Forum’ which approached the court against the move, though victory was a remote chance?
The answer is not far to seek. To most, SBT was not merely the brick-and-mortar block where you squirrelled away your small savings and ran to in financial emergencies. It was a sentiment. SBT was the friendly neighbourhood banker: when, in your perception, the performance fell short of the expectations, you could walk into the manager’s chamber and shout – or complain or write letters to the editor. It had blended itself so well into the fabric of its principal area of operation and the psyche of its people that the thought of severance is excruciatingly painful. Such was the identification of the people with SBT that elected representatives would vent their ire in public if the Bank, in their perception, did not rise to the occasion. Not so in the case of bigger banks with posh premises, awesome interiors, soft music, sophisticated software and nattily attired, sweet-talking staff. You can openly express your irritation only against those close to you, right?
What was SBT? It was much more than a soulless, faceless building. SBT was a friend you could confide in, whatever your problem. Maybe they did not have the solution, but they gave a patient hearing and often would suggest some way out.
SBT was a habit – a habit difficult to shake off. Countless are customers who, miffed by the sour face of a clerk, cashier or a manager, migrated to another bank soon returned.
SBT was a patron of literature. Stalwarts of Malayalam literature have been decorated by the Suvarnamudra, ‘for lifetime achievement and contribution to Malayalam literature’. Becoming an SBT-laureate was deemed to be a feather in the cap of aspiring authors as well as newbie scribes. Established authors hailed it as recognition of true merit.
SBT was sports. Its football team did the State proud by attaining national standards and contributing several players to the Indian team. Its teams pose a challenge even to professional clubs in the State. SBT-sponsored TKV Memorial Badminton Tournament, held since 1984, has attained ranking status in Kerala.
SBT was quizzing: its State-level IntelTeens Quiz was an event in the quizzing calendar of Kerala.
SBT was compassion: Going beyond the call of its duty long before Corporate Social Responsibility (CSR) became a buzzword and a fashionable fad which was later mandated as a legal requirement, SBT has always and supported orphanages, old age homes, rescue homes and the like for several decades.
SBT was a member of your family ready to bleed for you: countless are patients and accident victims through whose veins the blood of SBTians course.
SBT was Kerala’s ambassador in other states and the NRI’s best friend with good network abroad.
SBT was a benevolent employer, always ready to nurture the talent latent in the employees.
SBT was the financier the local club or NGO or a place of worship or a film society approached for part-funding their activity.
In short, SBT was many things to many people; it was everything to everybody. As SBT becomes part of history, one recalls the last two lines of the poem ‘Ivanekkoodi’ (Take Him Too) by Satchidanandan:
‘He was the golden salver of this poor land;
Lo, now, there he is: a full moon in the sky!’
Banking milestones
The first branch opened in Madras and the second in Bombay
Took over several small banks operating in the State
Became a subsidiary of State Bank of India in 1960
The bank that financed the first ever Kudumbasree unit in Kerala long before it became a movement
Arguably, the only bank in India with an anthem and a flag
The only bank with a museum in Kerala. Footprints, a museum set up by the State Bank of Travancore, is at Kowdiar in Thiruvananthapuram.The museum was established when the bank celebrated 70 years in 2015.
The only public sector bank head-quartered in Kerala
House-magazine has won several coveted awards
The author is former general manager and director of SBT
