CR Sasikumar as the new MD of State Bank of Travancore
Miscellaneous
India
CR Sasikumar on 1 June 2016 took over as Managing Director (MD) of State Bank of Travancore (SBT).
The State Bank of Travancore is one of the associate banks of State Bank of India (SBI).
Who is CR Sasikumar?
• Sasikumar started his career as a probationary officer with SBI in 1978. Since then, he has held several key assignments.
• Prior to the present posting in State Bank of Travancore, he worked as Deputy Managing Director, Inspection & Management Audit, at SBI Corporate Centre in Hyderabad.
About State Bank of Travancore
• State Bank of Travancore is a subsidiary of the State Bank Group and also has private share-holders.
• It is the premier bank of Kerala where it handles its majority of business.
• Overall, SBT as of 31 March 2015 has a network of 1157 branches and 1602 ATMs, covering 18 states and three union territories.
• The bank was established in 1945 as the Travancore Bank Ltd, at the initiative of C. P. Ramaswami Iyer, then Divan of Travancore.
• Following violent resentment against the dictatorial rule of C.P.Ramaswamy Iyer, the bank no longer credits his role.
• The Bank now credits the Maharaja of Travancore as the founder, though the Raja had little to do with the founding.
• In 1960, it became a subsidiary of State Bank of India under the SBI Subsidiary Banks Act, 1959, enacted by the Parliament of India.
