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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.

- The State Bank of Bikaner and Jaipur, the SBI associate bank, has
reported huge non-performing assets of Rs 310.02 crore for
1998-99 because of defaults from its large accounts.

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.

-State Bank of Bikaner and Jaipur has informed BSE that Mr K S V Krishnama Chari has taken over as Director of the Bank as State Bank of India nominee.Mr L N Jalani has been allowed by the Ministry of Finance to continue w e f July 09, 2002 as workman Director on the Board of the Bank.

-State Bank of Bikaner & Jaipur has informed Mr Ramesh Chand Bhandari was elected as Director of the Bank for a period of 3 years w e f August 09, 2002 in place of Mr M K Patodia whose tenure of office expired on August 04, 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 C Bhattacharya, Dy MD &Group Executive(A & S group), SBI takes over as the Director
of the bank as SBI nominee.

-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.

- SBBJ, join hands wth Honda Siel for sale of LPG gensets

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.

2008

-State Bank of Bikaner & Jaipur has informed that Shri. Arun Shandilya, has taken over as Managing Director of the Bank with effect from March 03, 2008.

-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 with effect from July 6.
 
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