State Bank of India
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State Bank of India (SBI) is the largest bank in India. It is also, measured by the number of branch offices and employees, the largest bank in the world. It recently celebrated its 200th anniversary. It has laid emphasis on reducing the huge manpower through Golden handshake schemes and computerizing its operations. It has an asset base of $126 billion and is a regional banking behemoth. It is a nationalised bank with the Reserve Bank of India having a 60% stake which is likely to be reduced.
There are seven other associate banks that fall under SBI. They all use the "State Bank of" name followed by the regional headquarters name. These were originally banks belonging to "princely states" and were therefore nationalised. The State Bank group refers to the 7 associates and the parent bank. All the banks use the same logo of a blue keyhole. There has been a proposal to merge all the associate banks into SBI to create a "mega bank" and streamline operations.
- State Bank of Indore
- State Bank of Bikaner & Jaipur
- State Bank of Saurashtra
- State Bank of Hyderabad
- State Bank of Mysore
- State Bank of Patiala
- State Bank of Trivancore
Evolution
Bank of Bengal
- June 2, 1806: The Bank of Calcutta established.
- January 2, 1809: redesigned as Bank of Bengal
- April 15, 1840: Bank of Bombay established.
- July 1, 1843: Bank of Madras established.
- 1861: Paper Currency Act passed
- January 27 , 1921: all 3 banks amalgamated to form Imperial Bank of India
- July 1, 1955: State Bank of India formed
External links
- Main SBI Site (http://www.sbi.co.in/)
- SBI, United States Operations (http://www.statebank.com/)
- Online SBI (http://www.onlinesbi.com/)Template:India-corp-stub