A subsidiary of State Bank of India, State Bank of Hyderabad was established as Hyderabad State Bank on 8 August 1941. The Bank started its operations with the distinction of being the central bank of the princely state of Hyderabad, covering the present-day Telangana region of Andhra Pradesh, Hyderabad-Karnataka of Karnataka and Marathwada of Maharashtra, when it was established. Apart from functioning as a commercial bank, it managed Osmania Sikka (the currency of Hyderabad in those days) and managed public debt as well. The first branch of the Bank was established at Gunfoundry, Hyderabad on 5 April 1942.
Hyderabad State Bank conducted the take over of the assets and liabilities of the Hyderabad Mercantile Bank Ltd. in 1953. It was in the same year, when the Bank started its Government and Treasury business as an agent of the Reserve Bank of India. In 1956, the RBI took over the Bank. Since then, Hyderabad State Bank came to be known as State Bank of Hyderabad (SBH), which was the subsidiary of RBI during the period. On 1 October 1959, SBH became a subsidiary of the State Bank of India.
State Bank of Hyderabad offers easy access to money to its customers, through the ATM cum debit cards issued by it. The ATM cum debit card issued by the Bank can be used at more than 12500 ATMs of Andhra Bank, Bank of India, Corporation Bank, Dena Bank, HDFC Bank, Indian Bank, IndusInd Bank, Punjab National Bank, UCO Bank, Union Bank of India , UTI Bank, Canara Bank and Bank of Rajasthan, which are members of bilateral sharing arrangement. Apart from withdrawing money from your Savings and Current accounts, you can view the current balance and the mini statement of the last five transactions on your SBH account, by using the ATM cum debit card.