SBT Smrithi Samgamam on 27.04.24
SBT SMRITHI SAMGAMAM
I was fortunate to attend the SBT Smrithi Samgamam at Thiruvananthapuram today. I was indeed blessed to exchange pleasantries with so many 'SBTMAR', including veteran SBTians, who defined and were instrumental in the way the bank carried its golden journey for nearly 72 years since its foundation day. The function was well conducted in a professional way, maintaining the hallmark 'SBT personal touch'. Hats off to Sivan, Devi Prasad, Harishankar, Sasidaran Nair (Sasi), Smt. Saliamma and a score of others in that wonderful team, which delivered on all fronts - cultural, food, accommodation, recognizing the literate elite (with citations and awards) and in bringing out the nostalgic moments of SBT in a brilliant manner. I just present for your perusal some highlights of SBT, that I shared with our colleagues on its Foundation Day in September 2021.
I. Defining moments and mile stones in the journey of SBT
ü 12.09.1945 - Travancore Bank Ltd (TBL) was registered in Trivandrum by the founder His Highness Sree Chitira Thirunal Balarama Verma, Maharaja of Travancore. In the beginning itself, the bank had an authorised capital of Rs.2 cr. (considered very huge at that time) and a subscribed capital of Rs.1 cr. with Rs.30 lacs, contribution coming from the government. Public private partnership, now a hot topic, was practiced, without saying so, if one look at the ownership in shares held at that time.
ü 01.01.1960 – TBL became a public sector bank. It was named State Bank of Travancore (SBT) and made a subsidiary of SBI (which was known as Imperial Bank prior to its nationalisation in 1955).
ü 31.12.1961 – SBT successfully took over nine banks, including Travancore Forward Bank, Kottayam Orient Bank, which were under moratorium due to loan defaults. The inherent strength exhibited was that the bank showed a net profit of Rs.8.35 lacs, for the year 1961, after absorbing the above banks under stress during 1960 and 1961.
ü 1971- Social Banking or Mass Banking started in a big way, consequent to nationalisation of 14 major private banks. SBT reached out to semi urban and rural areas in a big way.
ü 1992-93 - The bank faced its first major threat of existence, as the assets acquired under aggressive lending as a fall out of financial reforms announced by the government, turned into stressed assets. All staff stood as one and the bank ended the year with a gross profit of Rs.65 cr., net profit of Rs.8 cr. (with due provisions on NPAs aggregating Rs.281 cr., accounting for 12% of total advances) and a capital adequacy ratio of 4.5% (as against 4% to be achieved)
ü 10.01.1996 – BOS (Bank Own Software), acknowledged as the best user-friendly software, was launched. Among the associates, we only had the in-house branch specific software and helped the staff to migrate to CBS network seamlessly in 2005
ü 1998 – SBT successfully completed its public issue and raised Rs.69.24 cr., with an issue price of Rs.600. The issue was subscribed more than twice during the period, when the Central Government headed by Shri Devegowda resigned and the stock market was at its historic lows. Shareholding of SBI was reduced to 75% (from 95% till then) and this helped the bank to bring in two shareholder directors into its Board
ü 1999-2000 - ABOA: Unit SBT was on war path with the then top management. The agitation was different in the sense that the business was carried on as usual in the branches, no strike action plan was put in place but information on the performance of branches were withheld from the top management. It had the blessings of senior officers, due to genuineness of issues involved. Finally, the bank’s board had to intervene to request the management to hold talks with the officers’ body.
ü Presence in Gulf – The Bank opened exchange houses and own branches in Dubai and Abu Dhabi. We were the first to open branches outside India among associates.
ü 31.03.2017 Date of Merger – TBL which had a business of Rs.6.30 cr. in its first year of operations (1946) reported a business turnover of Rs. 35 cr. in its first year (1961) as SBT. When SBT was merged with SBI on 31st March 2017, the business levels (deposits plus advances) reached Rs.1.40 lac crores.(app)
II. What differentiated SBT and SBTMAR from others:
A.Culture: I always felt, that all the milestones of SBT would not have been possible, but for the rich culture of the home state prevalent and practiced in the Bank in abundant measure. The staff always kept in mind the interest of the Bank and the society they served. When I say the rich culture of Kerala, I want to mention about the level of social involvement and the brotherliness of the people of Kerala. For example, wherever I worked, I need not know the full address of a resident, if I have to visit them for a marriage, house forming, death, etc. Once I reach the area, I need to only say that purpose for which I came and the name of the person concerned. I will be directed properly. I experienced it today also, when I wanted to visit Pazhavangadi Ganapathy Shetram from Jawahar Nagar. In no other state, I witnessed this much of social connect.
B. Freedom to air one's views but act together after a decision is made: Everyone was given the liberty to air his views freely, when an issue was discussed on the principle “we respect each other’s view with a freedom to disagree”. But once a decision was taken, SBTMAR concerned always implemented the decision in the best way possible, burying their views expressed in the meeting.
C. Opinion of officers on deputation from other banks: Initially, they never appreciated SBTMAR’s habit of expressing their view points openly in a meeting, as they were not used to such experiences in their banks. Without an exception, all of them reconciled later on and started liking SBT for this particular aspect. The presence of Shri Rajendra Kumar and Shri Savekar, erstwhile GMs of SBM in the summit today only confirmed their unabated love for SBTMAR.
D. Behaviour of staff and union leaders: Even during an agitation, mutual respect and decency were maintained in letter and spirits. Seeking permission to enter a BM’s cabin, sitting opposite to the BM recognising that he/she is the boss in his/her “territory” were practiced both by the top management and the leaders of staff/officers unions.
E. Professional differences without any bearing on personal affinity remained the hall mark of SBTMAR: Going together for a tea after a heated debate or joining personal functions was seen commonly practiced by all. During the thick of a long drawn struggle by the officers association, mainly against the top management’s attitude, the then CGM was hospitalised. The top leaders of the officers' association paid a courtesy call immediately and wished him a speedy recovery.
F. Personal Care exhibited was without any expectation/personal favours
A few examples:
a. GM (F&A) and Treasury from another associate bank: He suffered a hip fracture, while on LFC far east. He came back to Thriruvananthapuram and was convalescing in a hospital. Our staff took care of him by turns, till he recovered fully. He talks so affectionately about this incident and many more that happened in SBT even today.
b. DGM (Trivandrum) (1997-2000) (again from another associate bank) – He was transferred to his parent bank and got relieved. But before proceeding from Trivandrum, he fell down from the terrace at home. He was hospitalised for three weeks (he was staying alone in Trivandrum) and the staff took care of him in all aspects. He visits Trivandrum, whenever he lands up at Sabarimala, even now.
III. What should we do now? Whether we reconcile or not, SBT is subsumed into SBI and it is a reality. There is no way a demerger can happen now. Let us accept it and play a positive role. Some of us have a perception that ex-ABians and the customers of ABians do not get the best attention, which they enjoyed when the bank was small in size and regional in character. We end up the discussion usually saying "golden days are gone and nothing can be set right”. I would like this kind of negative feelings to disappear. Instead let us remain in touch with the retired and serving SBTMAR, as we exhibited it in ample measure in the Samgamam today. We SBTMAR still carry the enthusiasm and spirit we inherited from our great institution. That will see us through in our lifetime happily and let us continue helping the society at large to experience a better tomorrow.
GOD bless us all. Best Wishes. Regards
V.Viswanathan
27th April 2024.
Very well penned dear Sir.. agree with you 100% regarding the last para.. let us cherish the sweet memories and at the same time lend a helping hand wherever required if anyone approaches us😊
ReplyDeleteTku Lakshmi.
DeleteAs you quoted, "THE BEST IS YET TO BE!"
ReplyDeleteAwaiting for many more glorious occasions!
May the Lamp of SBT SMRITHI SANGAMAM lighted yesterday with much joy and love continue to shine in our hearts and also guide the young minds in the coming days.
The Legacy of STATE BANK OF TRAVANCORE continues.....💖💕🥰👏👏🔵🎁🎁
Nicely written.
ReplyDeleteThe article is very nice and brings all the sweet and sorrowful memories I had with my dear bank SBT where I served for 35 long years. 1964 to 1999.
ReplyDelete👌
ReplyDeleteGood compilation of our beloved institution and the wonderful professional but friendly workforce.
ReplyDelete