STATE BANK OF TRAVANCORE

SBT was established in 1945 as the Travancore Bank Ltd., at the initiative of Travancore Diwan C. P. Ramaswami Iyer. Following popular resentment against his dictatorial rule, the bank never credited his role. Instead, the Bank considered the Maharaja of Travancore Sri Chithira Thirunal Balarama Varma as the founder, though the king had little to do with the founding. Although the Travancore government put up only 25% of the capital, the bank undertook government treasury work and foreign exchange business, apart from its general banking business.