State Bank of India History: Some Important Facts About SBI Bank You Need To Know

State Bank of India (SBI) History: Some Important Facts About SBI Bank Every One Must Know 

State Bank of India history
State Bank of India history

Every Indian already known that, State Bank of India (SBI) is an multinational Indian Bank and it is owned by Government of India. In other term we can call State Bank of India (SBI) is a public sector/state owned bank. 


Currently State Bank of India (SBI) is the biggest bank in India. It is a financial services company headquartered is located at Mumbai, Maharashtra. SBI Bank is the 43rd largest bank in the world and in the list of Fortune Global 500 ranked at 221st position of the world's biggest corporation of 2020. The biggest lender (SBI) is the largest bank in India with 23% market share by assets and 25% share of the total loan and deposits. The bank has employee nearly 250,000 and is the 5th largest employer in India. 


Below are the listed out important Facts of State Bank of India (SBI) history which every Indian must know.

1. State Bank of India (SBI) is a largest bank in India and is a  Indian Multinational financial services company.
2. It provides Banking and financial services in India and abroad.
3. It is a public sector / state owned bank, owned by Government of India.
4. SBI Bank headquarter is located at State Bank Bhawan, M.C. Road, Narima Point, Mumbai, Maharashtra, India.
5. Formerly the name of bank was Imperial Bank of India (1921-1955).
6. The bank founded on 2nd June 1806 as Bank of Calcutta, on 15th April 1840 as Bank of Bombay, on 1st July 1843 as Bank of Madras, on 27th January 1921 as Imperial Bank of India and State Bank of India (SBI) founded on 1st July 1955; 65 years ago.
7. Bank of Calcutta, Bank of Bombay and Bank of Madras all these three banks were private shareholder's bank during British period.
8. In the year 1861 as per Paper Currency Act, these banks were received rights to issue paper currency.
9. In the year 27th January 1961, all these three banks were merged together and renamed as the Imperial Bank of India (IBI).
10. Reserve Bank of India ( Government Bank of India) was acquired 60% stake of Imperial Bank of India in 1955 and renamed as State Bank of India (SBI) on 30th April 1955.
11. The biggest bank in India SBI is the first bank to open branch in China.
12. State bank of India (SBI) has 190 Foreign office in 36 countries, 22,141 branches and 58,555 ATMs in all over India.
13. The bank dealing with Retail Banking, Corporate Banking, Investment Banking, Mortgage Loans, Private Banking, Wealth Management, Credit Cards, Finance and Insurance.
14. Subsidiaries of State Bank of India (SBI) are SBI Life Insurance Ltd, SBI Cards and Payment Services Ltd, SBI General Insurance (70%), Jio Payments Bank (30%), Yes Bank (30%), Andhra Pradesh Grameena Vikas Bank (35%), Kaveri Grameena Bank (35%).
15. It is the first bank which open ATM at Drass in the Jammu & Kashmir Kargil region.
16. The State Bank of India (SBI) is the first bank which appointed Arundhati Bhattacharya as Chairperson of SBI. She is the first women who lead the bank as Chairperson of SBI.
17. Presently chairperson of State Bank of India (SBI) is Mr. Dinesh Kumar Khara.
18. Initially State Bank of India (SBI) were eight associate banks  in 1959. These are all: State Bank of Hyderabad, State Bank of Mysore, State Bank of Bikaner, State Bank of Jaipur, State Bank of Indore, State Bank of Saurashtra, State Bank of Patiala and State Bank of Travancore. State Bank of Bikaner and State Bank of Jaipur were merged in 1963 and named as State Bank of Bikaner and Jaipur (SBBJ). In 2008, State Bank of Saurashtra and in 2010 State Bank of Indore merged with State Bank of India (SBI). After all merged total number of Associate Banks of SBI is came down to five.
19. Website of SBI: bank.sbi


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