State Bank of India

Indian public sector bank and financial services organization

State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra. SBI is the 43rd largest bank in the world and ranked 221st in the Fortune Global 500 list of the world's biggest corporations of 2020, being the only Indian bank on the list.[2] It is a public sector bank and the largest bank in India with a 23% market share by assets and a 25% share of the total loan and deposits market.[3] It is also the fifth largest employer in India with nearly 250,000 employees.[4][5][6]

State Bank of India
Formerly
Imperial Bank of India
Public Sector Undertaking
Traded as
ISININE062A01020
IndustryBanking, financial services
Predecessor
Founded
HeadquartersState Bank Bhawan, M.C. Road, Nariman Point, Mumbai, Maharashtra, India
Number of locations
22,219 Branches, 62,617 ATMs in India, International: 229 Branches in 31 countries
Area served
Worldwide
Key people
Dinesh Kumar Khara
(Chairman)[1]
Products
RevenueIncrease 385,338 crore (US$51 billion) (2021)
Increase 78,898 crore (US$10 billion) (2021)
Increase 22,405 crore (US$2.9 billion) (2021)
Total assetsIncrease 4,845,619 crore (US$640 billion) (2021)
Total equityIncrease 274,669 crore (US$36 billion) (2021)
Number of employees
245,642 (March 2021)
ParentGovernment of India
Subsidiaries
Websitebank.sbi

The bank descends from the Bank of Calcutta, founded in 1806 via the Imperial Bank of India, making it the oldest commercial bank in the Indian Subcontinent. The Bank of Madras merged into the other two presidency banks in British India, the Bank of Calcutta and the Bank of Bombay, to form the Imperial Bank of India, which in turn became the State Bank of India in 1955.[7] 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 State Bank of India.

HistoryEdit

The State Bank of India was established on July 1, 1955.[8]

Symbol and sloganEdit

The symbol of the State Bank of India is a circle with a small man at the center of the circle.[9] The circle is a symbol of perfection and the common man is at the centre of the bank's business.

The bank is known by several slogans, including

  • "Pure banking nothing else"[10]
  • "With you—all the way"[11]
  • "Banker to every Indian"[12]

Associate banksEdit

SBI has five associate banks.


ReferencesEdit

  1. "govt-appoints-dinesh-kumar-khara-as-sbi-chairman-for-3-years". livemint. 6 October 2020. Retrieved 7 October 2020.
  2. "Fortune Global 500 list". Retrieved 16 January 2021.
  3. "Away from the public gaze, State Bank of India is preparing to unleash a revolution". Archived from the original on 22 May 2018. Retrieved 22 May 2018.
  4. "These Are the Biggest Employers in India". 15 December 2016.
  5. "India's eight biggest employers".
  6. "Top Companies in India: Top Companies in India by Employee Cost, Top BSE Companies by Employee Cost, Top BSE Companies".
  7. Rajesh (2009). Banking Theory Law N Practice. Tata McGraw-Hill Education. p. 8. ISBN 978-0-07-009123-8. Retrieved 4 November 2014.
  8. Pathak, Bharati V. (2011). The Indian Financial System: Markets, Institutions and Services, p. 420.
  9. The SBI symbol is not a keyhole.
  10. Inter Publicity Pvt. Ltd. (Interpub), "SBI—Pure banking nothing else Campaign"; retrieved 2012-6-29.
  11. State Bank of India (SBI), "Press Release—FY 09 Results"; retrieved 2012-6-29.
  12. Interpub, "SBI—The banker to every Indian Campaign"; retrieved 2012-6-29.
  13. "State Bank of Bikaner & Jaipur". Government Job Online. Rajan Verma. 30 March 2020.{{cite web}}: CS1 maint: url-status (link)

Other websitesEdit

  Media related to state Bank of India at Wikimedia Commons