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The State Bank of India (SBI) is India's largest bank and a statutory body. SBI traces its origins to banks established in 1806 in Bengal and Bombay and was formed by the amalgamation of the presidency banks in 1921 as the Imperial Bank of India, which became the SBI in 1955 when the government took control. SBI has over 10,000 branches across India and provides ATM access, banking subsidiaries, and other financial services.

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Black Book Project

The State Bank of India (SBI) is India's largest bank and a statutory body. SBI traces its origins to banks established in 1806 in Bengal and Bombay and was formed by the amalgamation of the presidency banks in 1921 as the Imperial Bank of India, which became the SBI in 1955 when the government took control. SBI has over 10,000 branches across India and provides ATM access, banking subsidiaries, and other financial services.

Uploaded by

Swapnil Hengade
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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INTRODUCTION

The State Bank of India (SBI) is an Indian multinational, public sector banking and financial


services statutory body. It is a government corporation statutory body headquartered in Mumbai,
Maharashtra. SBI is ranked as 236th in the Fortune Global 500 list of the world's biggest
corporations of 2019.[5] It is the largest bank in India with a 23% market share in assets, besides
a share of one-fourth of the total loan and deposits market.[6]
The bank descends from the Bank of Calcutta, founded in 1806, via the Imperial Bank of India,
making it the oldest commercial bank in the Indian subcontinent. The Bank of Madras merged
into the other two "presidency banks" in British India, the Bank of Calcutta and the Bank of
Bombay, to form the Imperial Bank of India, which in turn became the State Bank of India in
1955.[7] The Government of India took control of the Imperial Bank of India in 1955, with Reserve
Bank of India (India's central bank) taking a 60% stake, renaming it the State Bank of India
OBJECTIVE
Banks' exclusion from the commodity derivatives market in India A case of missed opportunities

The Pursuit of Complete Financial Inclusion The KGFS Model in India

Sustainable Excellence. Through Engaged Customers Employees and Right Use of Technology

Challenges of Inclusive Banking

State Bank of India (SBI) HISTORY


The evolution of State Bank of India can be traced back to the first decade of the 19th century. It
began with the establishment of the Bank of Calcutta in Calcutta, on 2 June 1806. The bank was
redesigned as the Bank of Bengal, three years later, on 2 January 1809. It was the first ever
joint-stock bank of the British India, established under the sponsorship of the Government of
Bengal. Subsequently, the Bank of Bombay (established on 15 April 1840) and the Bank of
Madras (established on 1 July 1843) followed the Bank of Bengal. These three banks dominated
the modern banking scenario in India, until when they were amalgamated to form the Imperial
Bank of India, on 27 January 3921

An important turning point in the history of State Bank of India is the launch of the first Five Year
Plan of independent India, in 1951. The Plan aimed at serving the Indian economy in general
and the rural sector of the country, in particular. Until the Plan, the commercial banks of the
country, including the Imperial Bank of India, confined their services to the urban sector.
Moreover, they were not equipped to respond to the growing needs of the economic revival
taking shape in the rural areas of the country. Therefore, in order to serve the economy as a
whole and rural sector in particular, the All India Rural Credit Survey Committee recommended
the formation of a state-partnered and state-sponsored bank.

The All India Rural Credit Survey Committee proposed the take over of the Imperial Bank of
India, and integrating with it, the former state-owned or state-associate banks. Subsequently, an
Act was passed in the Parliament of India in May 1955. As a result, the State Bank of India (SBI)
was established on 1 July 1955. This resulted in making the State Bank of India more powerful,
because as much as a quarter of the resources of the Indian banking system were controlled
directly by the State. Later on, the State Bank of India (Subsidiary Banks) Act was passed in
1959. The Act enabled the State Bank of India to make the eight former State-associated banks
as its subsidiaries.

The State Bank of India emerged as a pacesetter, with its operations carried out by the 480
offices comprising branches, sub offices and three Local Head Offices, inherited from the
Imperial Bank. Instead of serving as mere repositories of the community's savings and lending to
creditworthy parties, the State Bank of India catered to the needs of the customers, by banking
purposefully. The bank served the heterogeneous financial needs of the planned economic
development.

Branches
The corporate center of SBI is located in Mumbai. In order to cater to different functions, there
are several other establishments in and outside Mumbai, apart from the corporate center. The
bank boasts of having as many as 14 local head offices and 57 Zonal Offices, located at major
cities throughout India. It is recorded that SBI has about 10000 branches, well networked to cater
to its customers throughout India.

ATM Services
SBI provides easy access to money to its customers through more than 8500 ATMs in India. The
Bank also facilitates the free transaction of money at the ATMs of State Bank Group, which
includes the ATMs of State Bank of India as well as the Associate Banks � State Bank of
Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Indore, etc. You may also transact
money through SBI Commercial and International Bank Ltd by using the State Bank ATM-cum-
Debit (Cash Plus) card.

Subsidiaries
The State Bank Group includes a network of eight banking subsidiaries and several non-banking
subsidiaries. Through the establishments, it offers various services including merchant banking
services, fund management, factoring services, primary dealership in government securities,
credit cards and insurance.

The eight banking subsidiaries are:


 State Bank of Bikaner and Jaipur (SBBJ)
 State Bank of Hyderabad (SBH)
 State Bank of India (SBI)
 State Bank of Indore (SBIR)
 State Bank of Mysore (SBM)
 State Bank of Patiala (SBP)
 State Bank of Saurashtra (SBS)
 State Bank of Travancore (SBT)

OBJECTIVE
Banks' exclusion from the commodity derivatives market in India A case of missed opportunities

The Pursuit of Complete Financial Inclusion The KGFS Model in India

Sustainable Excellence. Through Engaged Customers Employees and Right Use of Technology

Challenges of Inclusive Banking

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