STATE BANK OF INDIA, government-owned corporation is India's oldest and largest commercial bank.
ESTABLISHMENT
- In 1806, SBI was commenced as Bank of Calcutta. (2 June, 1806)
- In 1809, the bank was renamed as Bank of Bengal. (2 Jan, 1809)
- In 1921, the bank was known as Imperial Bank of India. (27 Jan, 1921)
- On 1st July 1955, Imperial Bank of India became STATE BANK OF INDIA under State Bank of India Act, 1955.
SUBSIDIARIES
State Bank of India ( Subsidiary Bank Act) was passed in September, 1959 by the government.
There are five banking subsidiaries of State Bank of India:
- State Bank of Hyderabad (First Subsidiary of SBI)
- State Bank of Bikaner & Jaipur ( Merged in 1963 )
- State Bank of Mysore
- State Bank of Patiala
- State Bank of Travancore
Note - State Bank of Saurashtra and State Bank of Indore were merged with SBI in 2008 and 2010 respectively. There were originally eight subsidiaries acquired in 1959.
KEY FACTS
- Headquarters of SBI - Mumbai
- Chairperson - Arundhati Bhattacharya
- Owner - Government of India
- Slogans - The Banker To Every India; Pure Banking, Nothing Else; With You, All The Way; A Bank Of The Common Man; The Nation's Bank On Us.
SCHEMES AND APPS BY SBI
- SBI Buddy - Mobile Wallet App - Used to send money and booking for movies, flights, hotels and can be used for shopping as well,
- Youth for India - Indian Rural Fellowship Programme
- Twitter Handle Account - To connect with technically proficient generation in better way.
- Tab Banking Facility - The staff will visit the customer place and complete the formalities for account opening using Tabs.
- State Bank Freedom App- We can transfer funds , internet banking, balance enquiry, check Mini Statement, Cheque book request, Demat Enquiry service and Payment of Bills.
- Composite Index - To look forward economic trends.
- E- KYC
- Boutique Financing Scheme - For women owners of Fashion Boutique
- State Bank Anywhere - Retail Internet Banking
- SBI Quick - Receive account balance and mini statements by sending a SMS or giving a missed call
- MCash - To claim funds sent by SBI customers
