If talked about the Indian banking and financial services company, State Bank of India, having its headquarters in Mumbai, commonly known as SBI, is the largest one considering its turnover and total assets. If the number of branches of the Banks is considered State Bank of India (SBI) is the largest Bank in the world. There are more than 16000 branches of State Bank of India inclusive of about 130 overseas branches. It has a vast range of banking products including products aimed at non-resident Indians (NRIs). As regards the reputation of State Bank of India, it is the 29th most reputed company in the world.
It is very interesting to know about the history of State Bank of India as SBI is the oldest commercial bank in the Indian Subcontinent and it traces its ancestry to British India. The roots of the State Bank of India go to the first decade of 19th century, when the Bank of Calcutta, later renamed the Bank of Bengal, was established on 2 June 1806. The Bank of Bengal was one of three Presidency banks, the other two being the Bank of Bombay (incorporated on 15 April 1840) and the Bank of Madras (incorporated on 1 July 1843). These three banks amalgamated as Imperial Bank. The government of India nationalized the Imperial Bank of India in 1955 and renamed it the State Bank of India. In 1959, the government passed the State Bank of India (Subsidiary Banks) Act, enabling the State Bank of India to take over eight former state-associated banks as its subsidiaries.
SBI has following associate banks:
* State Bank of Bikaner & Jaipur
* State Bank of Hyderabad
* State Bank of Mysore
* State Bank of Patiala
* State Bank of Travancore
* State Bank of Saurashtra - merged with SBI in 2008.
* State Bank of Indore - merged with SBI in 2010.
It is very interesting to know about the history of State Bank of India as SBI is the oldest commercial bank in the Indian Subcontinent and it traces its ancestry to British India. The roots of the State Bank of India go to the first decade of 19th century, when the Bank of Calcutta, later renamed the Bank of Bengal, was established on 2 June 1806. The Bank of Bengal was one of three Presidency banks, the other two being the Bank of Bombay (incorporated on 15 April 1840) and the Bank of Madras (incorporated on 1 July 1843). These three banks amalgamated as Imperial Bank. The government of India nationalized the Imperial Bank of India in 1955 and renamed it the State Bank of India. In 1959, the government passed the State Bank of India (Subsidiary Banks) Act, enabling the State Bank of India to take over eight former state-associated banks as its subsidiaries.
SBI has following associate banks:
* State Bank of Bikaner & Jaipur
* State Bank of Hyderabad
* State Bank of Mysore
* State Bank of Patiala
* State Bank of Travancore
* State Bank of Saurashtra - merged with SBI in 2008.
* State Bank of Indore - merged with SBI in 2010.
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