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An Introduction

  • State Bank of India (SBI) is an Indian multinational, public sector banking and financial services company, owned by Government of India. 
  • As of 31 March 2016,SBI has 49,577 ATMs & SBI group has 58,541 ATMs. 
  • In 2016, Google search trends indicated that SBI jobs is one of the most searched keyword as compared to other banks. 
  • Let us see in detail about the Icon of our Indian Banking Sector. 

History of State Bank of India:

  • The roots of the State Bank of India lie in the first decade of the 19th century, when the Bank of Calcutta, was established on 2 June 1806. 
  • The Bank of Calcutta, was the oldest commercial bank in India, later renamed as Bank of Bengal. 
  • The Bank of Bengal was one of three Presidency banks, the other two were the Bank of Bombay and the Bank of Madras. 
  • These three banks received the exclusive right to issue paper currency till 1861. 
  • With the Paper Currency Act, the right was taken over by the Government of India. 
  • On 27 January 1921, the three presidency banks got merged as a single bank called the Imperial Bank of India. 
  • On 1 July 1955, the imperial Bank of India became the State Bank of India. 
  • On 2 June 1956, State Bank of India got nationalized. 
  • In 1959, the government passed the State Bank of India (Subsidiary Banks) Act. 
  • This act resulted in the birth of eight Associates of SBI. 
  • In 1963 SBI merged State Bank of Jaipur and State Bank of Bikaner. 
  • On 13 August 2008 State Bank of Saurashtra merged with SBI 
  • On 19 June 2009, State Bank of Indore merged with SBI. 
  • On 7 October 2014, Arundhati Bhattacharya became the first woman to be appointed Chairperson of the bank. 
  • In 2008, the Government of India acquired the Reserve Bank of India's stake in SBI. 

Acquisition of State Bank of India:

  • Bank of Bihar in 1969 
  • National Bank of Lahore in 1970. 
  • Krishnaram Baldeo Bank in 1975. 
  • Bank of Cochin in 1985. 

Merging of Associate banks:

  • State Bank of Bikaner & Jaipur (founded 1963) 
  • State Bank of Hyderabad (founded 1941) 
  • State Bank of Mysore (founded 1913) 
  • State Bank of Patiala (founded 1917) 
  • State Bank of Travancore (founded 1945) 
  • Bharatiya Mahila Bank(founded 2013) 

Note:
  • The merger of these six Associates was approved by Union Cabinet on 15 June 2016 
  • On 15 February 2017, the Union Cabinet approved the merger of 5 associate banks with SBI, Except Bharatiya Mahila Bank. 
  • Bharatiya Mahila Bank will be merged in the next fiscal year. 

Logo of Imperial Bank of India:

Logo of State Bank of India:


  • Designed by: Shekhar Kammat
  • Designed on: 1st October, 1971
Note: The logo was the aerial view of the Kankaria Lake in Ahmedabad, Gujarat. 
  • Tagline : With you all the way
  • Pure banking nothing else
  • The nation's bank on us
  • Headquarter: Mumbai, Maharashtra, India
  • Founded on: 2 June 1806, Bank of Calcutta
  • 27 January 1921, Imperial Bank of India
  • 1 July 1955, State Bank of India
  • Chairperson: Arundhati Bhattacharya

Non -Banking Subsidiaries

  • SBI Capital Markets Ltd 
  • SBI Funds Management Pvt Ltd 
  • SBI Factors & Commercial Services Pvt Ltd 
  • SBI Cards & Payments Services Pvt. Ltd. 
  • SBI DFHI Ltd (SBI Discount and Finance House of India) 
  • SBI Life Insurance Company Limited (joint venture with BNP Paribas) 
  • SBI General Insurance 

Associates Banks of State Bank of India:

  • State Bank of Patiala (founded 1917) 
  • State Bank of Mysore (founded 1913) 
  • State Bank of Bikaner & Jaipur (founded 1963) 
  • State Bank of Hyderabad (founded 1941) 
  • State Bank of Travancore (founded 1945) 
  • Bharatiya Mahila Bank(founded 2013) 

Awards Received by State Bank of India:

  • SBI was ranked 232nd in the Fortune Global 500 rankings of the world's biggest corporations (2016). 
  • SBI was ranked as the top bank in India based on tier 1 capital by The Banker magazine in a 2014 ranking. 
  • SBI was 50th Most Trusted brand in India as per the Brand Trust Report 2013 
  • SBI was 19th Most Trusted Brand in India, as per the Brand Trust Report 2014 
  • SBI was named the 29th most reputed company in the world according to Forbes 2009 rankings 

SBI sponsors the following regional rural banks (RRB):

  • Vananchal Gramin Bank (Jharkhand) 
  • Utkal Grameen Bank (Odissa) 
  • Ellaquai Dehati Bank(JK) 
  • Purvanchal Bank (UP) 
  • Langpi Dehangi Rural Bank (Assam) 
  • Malwa Gramin Bank (Punjab) 
  • Kaveri Grameena Bank (Karnataka) 

Apps Launched Recently by State Bank of India:

  • e-Forex 
  • e-Kyc
  • Boutique financing scheme 
  • Tab banking facility 
  • Twitter handle account 
  • Youth for India 
  • IMT (instant money transfer ) App 
  • SBI launches ‘State Bank of India no queue’ mobile app 
  • SBI mingle


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