State Bank of India

State bank of India is the largest commercial bank of India. Here we give some facts, information and history of State Bank of India :

• State Bank of India is the oldest commercial bank in the Indian subcontinent.

• The State Bank of India (SBI Bank) was established in 1806, in Kolkata as theBank of Calcutta.

• Three years after that, it acquired its charter and was re-designed as Bank of Bengal in 1809.

• It was the very first joint-stock bank of India, which the Bengal Government sponsored.

• The Bank of Bombay (15 April 1840) and the Bank of Madras (1 July 1843) followed the Bank of Bengal. The presidency Banks of Bengal, Bombay and Madras with their 70 branches were merged in 1921 to form the Imperial Bank of India. These three banks remained at the apex of modern banking in India till their amalgamation as the

• Imperial Bank of India on 27 January 1921.

• 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.

• Through the State Bank of India (Subsidiary Banks) Act, 1959, major state- associated banks were converted into subsidiary banks of State Bank of India. There were eight associate banks of SBI in 1959.

• The Central Board of Directors consisting of 20 members.

• The headquarteres of SBI is located in Mumbai, Maharashtra.

• It's a government-owned public sector organisation with more than 22,000 plus branches in India, 62,000 plus Pan-India ATMs.

• SBI operates in about 31 countries with nearly 229 overseas offices.

• SBI is ranked 205th on the Fortune Global 500, 2021.

• John Matthai was the first Chairman of the State Bank of India when it was set up in 1955.

• The first woman to be appointed as the Chairperson of SBI is Arundhati Bhattachrya.

• The current logo of SBI was designed by Shekhar Kamat from National Institute of Design, Ahmedabad. This logo was released on 1st October 1971.

• In 2004, SBI sets up India's first drive-in ATM in Hyderabad.

• It is the first bank of India to open branch in China.






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