An Associate Bank of the State Bank of India, State Bank of Patiala (SBP) was established in 1917 by Late His Highness Bhupinder Singh, the Maharaja of erstwhile Patiala state. SBP started its operations from one branch called 'Chowk Fort', in Patiala. During the time of the establishment, the state owned Bank was known as Patiala State Bank. It was set up for the purpose of promoting the growth of agriculture, trade and industry. The operations of Patiala State Bank witnessed a drastic change, when Patiala and east Punjab States Union (PEPSU) was formed in 1948. During that time, the Bank was reorganized and the Reserve Bank of India (RBI) controlled it.
Patiala State Bank was renamed State Bank of Patiala on 1 April 1960, when it became a wholly owned undertaking of the Government of Punjab. On that day, SBP became a subsidiary of the State Bank of India (SBI). Since it was renamed, SBP has grown significantly in terms of its size and the volume of business. It is now one of the prominent Banks of India. Another milestone in the history of SBP was the computerization of all its branches on 24 January 2003. With this development, the Bank became India's first fully computerized Public Sector Bank.
Branches And ATM Services
The business of State Bank of Patiala has grown manifold since its establishment. Recent records say that State Bank of Patiala is networked by its 830 service outlets. There are as many as 750 branches of SBP, spread across the major cities of India, out of which, the majority of branches are located in its home State, Haryana, Himachal Pradesh, Rajasthan, Jammu & Kashmir, Delhi and Chandigarh. The Bank provides easy access to money to its customers through its ATMs spread over 16 states of India.
Products And Services