State Bank of Bikaner & Jaipur

State Bank Of Bikaner & Jaipur

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State Bank of Bikaner & Jaipur

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Description:
State Bank of Bikaner & Jaipur (SBBJ) (in Hindi स्टेट बैंक ऑफ बीकानेर एण्ड जयपुर) () () is an associate bank of State Bank of India. Currently, SBBJ has over 848 branches, mostly located in the state of Rajasthan, India. Its branch network out of Rajasthan covers all the major business centers of India. In 1997, the Bank entered in the capital market with an Initial Public Offering of 13,60,000 shares at a premium of Rs 440 per share.

History

State Bank of Bikaner & Jaipur came into existence on 1963 when two banks, namely, State Bank of Bikaner (established in 1944) and State Bank of Jaipur (established in 1943), were merged. Both these banks were subsidiaries of the State Bank of India under the State Bank of India (Subsidiary Bank) Act, 1959. On April 25, 1966 SBBJ took over Govind Bank, Mathura.

In 1984 SBBJ sponsored and established Ganganagar Kshetriya Gramin Bank as a Regional Rural Bank. Thereafter, in 1985 SBBJ opened the Bikaner Kshetriya Gramin Bank, the second Regional Rural Bank sponsored by it. The third Regional Rural Bank, sponsored by SBBJ was Marwar Gramin Bank covering the districts of Pali, Jalore and Sirohi. On 12 June 2006, SBBJ merged all three Regional Rural Banks sponsored by SBBJ were merged and the merged entity was named MGB Gramin Bank, with headquarters in Pali.

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