State Bank of India (SBI) – Important Points

All about State Bank of India:

  • State Bank of India is the largest Indian banking and financial services company by yearly turnover and total assets.
  • The headquarters of SBI is in Mumbai, India.
  • SBI is a State owned Bank.

Presidency Banks during British Raj:

  • Bank of Bengal was established in 1806 in Kolkata. It was the first presidency bank of India.
  • Two other presidency bank was established, Bank of Bombay in 1840 and Bank of Madras in 1843.
  • These three banks were private shareholders’ bank.
  • East India Company also contributed to the share capital of each of them.
  • The bulk of the share capital had come from private shareholders mostly Europeans.
  • These banks were given monopoly of Govt. Banking- After 1823
  • These three banks received the exclusive right to issue paper currency in 1861 with the Paper Currency Act
  • Presidency Banks were amalgamated into the Imperial Bank of India (IBI) which was established in 27 January 1921

After Independence:

  • According to the parliamentary Act, State Bank of India Act (1955), Imperial Bank of India (IBI) was acquired by the Reserve Bank of India.
  • On 30 April 1955 RBI renamed Imperial Bank of India (IBI) as State Bank of India.
  • State Bank of India (Subsidiary Banks) Act passed in 1959.
  • In 1959, eight banks were converted as associate banks of SBI
    1. State Bank of Bikaner
    2. State Bank of Jaipur
    3. State Bank of Hyderbad
    4. State Bank of Indore
    5. State Bank of Mysore
    6. State Bank of Saurashtra
    7. State Bank of Patoila
    8. State Bank of Travancore
  • In 1963, State Bank of Bikaner and State Bank of Jaipur were merged to form State Bank of Bikaner and Jaipur (SBBJ).
  • In 2008, State Bank of Saurashtra was merged with the Parent Bank- SBI
  • In 2010, State Bank of Indore was merged with – SBI
  • The total number of Associate Banks of SBI currently working in India- Five (5)
  • State Bank of India has 137 foreign offices in 32 countries across the globe.
  • As of 31st March, 2014: SBI has 43,515 AMTs.
  • As of 31st March, 2014: SBI group (including associate banks) has 51,491 ATMs.
  • As of 31st March, 2014: SBI has 15,869 branches.
  • 25,000th ATM of SBI was inaugurated by the then Chairman of State Bank Shri O.P.Bhatt on 31 March 2011, the day of his retirement.
  • 10000th branch in March, 2008 in Sivaganga District by P.Chidambaram.
  • Finance Minister P.Chidambaram inaugurated the 15000th Branch of SBI  at Sooranam Village, Sivaganga District,Tamil Nadu on 17th August, 2013 in the presence of  Pratip Chaudhuri, Chairman.
  • On October 7, 2013, Arundhati Bhattacharya became the first woman to be appointed Chairperson of the bank.
  • Slogans of SBI:
    1. With you all the way
    2. Pure banking nothing else
    3. The Banker to every Indian
    4. The Nation banks on us
  • Awards of SBI:
    1. SBI won the Best Bank award in the ‘ASiAMONEY FX POLL OF POLLS 2014’ for best overall performance as domestic provider of Forex services over the last 10 years.
    2. SBI was ranked as the top bank in India based on tier 1 capital by The Banker magazine in a 2014 ranking.
    3. SBI won “Best Public Sector Bank” award in the D&B India’s study on ‘India’s Top Banks 2013.
    4. State Bank of India won three IDRBT Banking Technology Excellence Awards 2013 for “Electronic Payment Systems”, “Best use of technology for Financial Inclusion”, and “Customer Management & Business Intelligence” in the large bank category.
    5. SBI was ranked 298th in the Fortune Global 500 rankings of the world’s biggest corporations for the year 2012.
    6. SBI won National Award for its performance in the implementation of Prime Minister’s Employment Generation Programme (PMEGP) scheme for the year 2012.
    7. SBI was named the 29th most reputed company in the world according to Forbes 2009 rankings.

5 thoughts on “State Bank of India (SBI) – Important Points

  1. […] More About SBI: State Bank of India – Important Points (Click here to read […]

  2. thanks..the above info is very much useful..

  3. Hey all….can any1 plz tell me expected SBI written and interview cut off marks for my state …In my state total 48 vacancies in general category… can any1 plz tell me wht can b the cut off in my state and also abt final interview cut off…..I hav got interview call frm SBI so  plz tell me as soon as possible?
    I am waiting for ur comments….

  4. Thank you. .very useful info. .

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