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State Bank of India

State Bank of India (SBI) is an Indian public sector multinational banking and financial services company. The company is included in the Fortune Global 500 list and it is a government owned corporation and it has its headquarters in Mumbai, Maharashtra. SBI is the largest banking and financial service in India with an asset of Rs 20,480 trillion and more than 14,000 branches which includes 191 foreign offices that are spread across 36 countries. Founded in 1806, SBI is the oldest commercial bank in Indian subcontinent and it is a banking behemoth and has 20% market share in deposits and loans among Indian commercial banks.

The origin of the State Bank of India goes back to the first decade of the nineteenth century with the establishment of the Bank of Calcutta in Calcutta on 2 June 1806. Three years later the bank received its charter and was re-designed as the Bank of Bengal (2 January 1809). A unique institution, it was the first joint-stock bank of British India sponsored by the Government of Bengal. The Bank of Bombay (15 April 1840) and the Bank of Madras (1 July 1843) followed the Bank of Bengal. These three banks remained at the apex of modern banking in India till their amalgamation as the Imperial Bank of India on 27 January 1921.Primarily Anglo-Indian creations, the three presidency banks came into existence either as a result of the compulsions of imperial finance or by the felt needs of local European commerce and were not imposed from outside in an arbitrary manner to modernise India's economy. Their evolution was, however, shaped by ideas culled from similar developments in Europe and England, and was influenced by changes occurring in the structure of both the local trading environment and those in the relations of the Indian economy to the economy of Europe and the global economic framework.The establishment of the Bank of Bengal marked the advent of limited liability, joint-stock banking in India. So was the associated innovation in banking, viz. the decision to allow the Bank of Bengal to issue notes, which would be accepted for payment of public revenues within a restricted geographical area. This right of note issue was very valuable not only for the Bank of Bengal but also its two siblings, the Banks of Bombay and Madras. It meant an accretion to the capital of the banks, a capital on which the proprietors did not have to pay any interest. The concept of deposit banking was also an innovation because the practice of accepting money for safekeeping (and in some cases, even investment on behalf of the clients) by the indigenous bankers had not spread as a general habit in most parts of India. But, for a long time, and especially upto the time that the three presidency banks had a right of note issue, bank notes and government balances made up the bulk of the investible resources of the banks.The three banks were governed by royal charters, which were revised from time to time. Each charter provided for a share capital, four-fifth of which were privately subscribed and the rest owned by the provincial government. The members of the board of directors, which managed the affairs of each bank, were mostly proprietary directors representing the large European managing agency houses in India. The rest were government nominees, invariably civil servants, one of whom was elected as the president of the board.Bank of Madras merged into the other two "presidency banks" in British India, Bank of Calcutta and Bank of Bombay, to form the Imperial Bank of India, which in turn became the State Bank of India in 1955. Government of India owned the Imperial Bank of India in 1955, with Reserve Bank of India (India's Central Bank) taking a 60% state, and renamed it the State Bank of India. In 2008, the government took over the stake held by the Reserve Bank of India.

The logo of SBI is a blue circle with a small cut in the bottom and the logo depicts perfection and the small man the common man- being the center of the bank’s business. The logo is inspired by Kankaria Lake and the logo came from National Institute of Design (NID). SBI provides a range of banking products through its network of branches in India and overseas, including products aimed at Non Resident Indians (NRIs). SBI has 14 regional hubs and 57 Zonal Offices that are located at important cities throughout India. Other associated banks of SBI include State Bank of Patiala, State Bank of Mysore, State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Travancore and BharatiyaMahilaBank.

ArundhattiBhattarchyais the current chairman of SBI.SBI is one of the largest employers in the country having 222,033 employees as on 31 March 2014, out of which there were 45,132 female employees (20%) and 2,610 (1%) employees with disabilities. On the same date, SBI had 42,744 Schedule Caste (19%) and 17,243 Schedule Tribe (8%) employees. The percentage of Officers, Assistants and Sub-staff was 36%, 46% and 18% respectively on the same date Hiring drive: 1,776 Assistants and 1,394 Officers joined the Bank in FY 2013-14, for expansion of the branch network and to mitigate staff shortage, particularly at rural and semi-urban branches.

DGCA to Ask Jet Airways For Revival Plan After Flight Operation Suspension
India.com Business Desk | April 18, 2019 2:36 PM IST
New Delhi: The Directorate General of Civil Aviation (DGCA) will ask the cash-strapped Jet Airways (...
DGCA to Ask Jet Airways For Revival Plan After Flight Operation Suspension
indiacom
2019-04-18T03:36:17+00:00
2019-04-18T03:36:17+00:00
State Bank Of India
India.com
What About Rs 15,000 Crore Fund? Jet Pilots' Guild Asks SBI
India.com News Desk | April 15, 2019 12:47 PM IST
New Delhi: Protesting against the non-payment of their salaries since January this year, Jet pilots ...
What About Rs 15,000 Crore Fund? Jet Pilots' Guild Asks SBI
indiacom
2019-04-15T01:47:02+00:00
2019-04-15T01:52:18+00:00
State Bank Of India
India.com
Jet Airways Pilots Defer Strike, Airline Management to Meet SBI Today
India.com News Desk | April 14, 2019 5:52 PM IST
New Delhi: The Jet Airways' pilots body National Aviator's Guild (NAG) will meet on Monday to take a...
Jet Airways Pilots Defer Strike, Airline Management to Meet SBI Today
indiacom
2019-04-14T06:52:02+00:00
2019-04-14T13:01:44+00:00
State Bank Of India
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SBI Reduces Interest Rate on Housing Loans up to Rs 30 L by 10 Basis Points
PTI | April 9, 2019 8:02 PM IST
Mumbai: The nation's largest lender State Bank of India on Tuesday reduced the lending rates by a ma...
SBI Reduces Interest Rate on Housing Loans up to Rs 30 L by 10 Basis Points
indiacom
2019-04-09T09:02:23+00:00
2019-04-09T09:02:23+00:00
State Bank Of India
India.com
Public Sector Banks, Led by SBI, Continue With 180 Days to Resolve Jet Airways Account
IANS | April 9, 2019 10:35 AM IST
New Delhi: Public sector banks, led by State Bank of India, have given themselves 180 days to resolv...
Public Sector Banks, Led by SBI, Continue With 180 Days to Resolve Jet Airways Account
indiacom
2019-04-08T23:35:02+00:00
2019-04-08T23:35:02+00:00
State Bank Of India
India.com
UK Court Rejects Vijay Mallya's Plea Against Extradition to India
India.com News Desk | April 8, 2019 4:06 PM IST
New Delhi: In a major setback for fugitive businessman Vijay Mallya, the UK court rejected his plea,...
UK Court Rejects Vijay Mallya's Plea Against Extradition to India
indiacom
2019-04-08T05:06:08+00:00
2019-04-08T05:16:30+00:00
State Bank Of India
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Indian Oil Corporation Resumes Supply of Fuel to Debt-laden Jet Airways
India.com Business Desk | April 5, 2019 4:10 PM IST
Mumbai: Indian Oil Corporation resumed the service of oil supply to the debt-laden carrier Jet Airwa...
Indian Oil Corporation Resumes Supply of Fuel to Debt-laden Jet Airways
indiacom
2019-04-05T05:10:38+00:00
2019-04-05T06:27:14+00:00
State Bank Of India
India.com
Insolvent Mallya Lives Off His Partner, Children, Business Acquaintance, London HC Told
India.com Business Desk | April 4, 2019 9:09 AM IST
London: Embattled liquor tycoon Vijay Mallya who is insolvent is currently living off his partner, h...
Insolvent Mallya Lives Off His Partner, Children, Business Acquaintance, London HC Told
indiacom
2019-04-03T22:09:01+00:00
2019-04-03T22:09:01+00:00
State Bank Of India
India.com
SBI PO 2019 Recruitment Alert: Apply for 2000 posts @ sbi.co.in till April 22, 2019 | Details here
India.com Education Desk | April 2, 2019 2:29 PM IST
New Delhi: The State Bank of India (SBI) is inviting candidates to fill up Probationary Officer post...
SBI PO 2019 Recruitment Alert: Apply for 2000 posts @ sbi.co.in till April 22, 2019 | Details here
indiacom
2019-04-02T03:29:22+00:00
2019-04-02T03:29:47+00:00
State Bank Of India
India.com
Sale of Electoral Bonds Skyrocket by 62 Per Cent in Election Year: RTI
PTI | April 1, 2019 4:25 PM IST
The sale of electoral bonds has skyrocketed ahead of Lok Sabha election by 62 per cent as compared t...
Sale of Electoral Bonds Skyrocket by 62 Per Cent in Election Year: RTI
indiacom
2019-04-01T05:25:08+00:00
2019-04-01T05:25:08+00:00
State Bank Of India
India.com
Over 1,000 Jet Airways Pilots to go Ahead With no Flying Call From April 1
PTI | March 30, 2019 10:44 AM IST
Mumbai: Over 1,000 pilots of the struggling private carrier Jet Airways have decided to go ahead wit...
Over 1,000 Jet Airways Pilots to go Ahead With no Flying Call From April 1
indiacom
2019-03-29T23:44:54+00:00
2019-03-29T23:44:54+00:00
State Bank Of India
India.com
SBI Gets Into Rescue Mode, Jet Airways Looks at Paying Pending Salaries, Get More Planes Flying
India.com Business Desk | March 26, 2019 7:53 PM IST
New Delhi: The interim management of the cash-strapped airline Jet Airways, led by State Bank of Ind...
SBI Gets Into Rescue Mode, Jet Airways Looks at Paying Pending Salaries, Get More Planes Flying
indiacom
2019-03-26T08:53:44+00:00
2019-03-26T08:53:44+00:00
State Bank Of India
India.com
Jet Airways Suspends Operations to 13 International Routes Till April 30
India.com News Desk | March 23, 2019 9:44 AM IST
New Delhi: The cash-strapped Jet Airways suspended operations for at least 13 international routes t...
Jet Airways Suspends Operations to 13 International Routes Till April 30
indiacom
2019-03-22T22:44:17+00:00
2019-03-22T22:44:17+00:00
State Bank Of India
India.com
SBI Jumps in to Save Jet Airways After Etihad Refuses to Rescue Partner Airline
India.com News Desk | March 22, 2019 9:25 AM IST
New Delhi: Lenders led by the State Bank of India (SBI) may soon pull out cash-strapped Jet Airways ...
SBI Jumps in to Save Jet Airways After Etihad Refuses to Rescue Partner Airline
indiacom
2019-03-21T22:25:59+00:00
2019-03-21T22:28:17+00:00
State Bank Of India
India.com
State Bank of India Facilitates Cardless Transactions via 'You Only Need One' Application
India.com Business Desk | March 16, 2019 1:27 PM IST
Mumbai: The State Bank of India (SBI) has enabled cardless ATM transactions which can be carried out...
State Bank of India Facilitates Cardless Transactions via 'You Only Need One' Application
indiacom
2019-03-16T02:27:01+00:00
2019-03-16T02:27:01+00:00
State Bank Of India
India.com
Public Sector Banks in no Hurry to Link Repo With Interest Rates, Claim Reports
IANS | March 12, 2019 2:18 PM IST
New Delhi: Public sector banks are in no hurry to follow big brother SBI in linking their deposit an...
Public Sector Banks in no Hurry to Link Repo With Interest Rates, Claim Reports
indiacom
2019-03-12T03:18:36+00:00
2019-03-12T03:18:36+00:00
State Bank Of India
India.com
State Bank of India to Link Key Pricing Decisions on Saving Deposits to Repo Rate of RBI
IANS | March 9, 2019 10:07 AM IST
Mumbai: Lending major SBI on Friday said it will link key pricing decision for savings bank deposits...
State Bank of India to Link Key Pricing Decisions on Saving Deposits to Repo Rate of RBI
indiacom
2019-03-08T23:07:13+00:00
2019-03-08T23:07:13+00:00
State Bank Of India
India.com
SBI to Link Key Pricing Decisions on Saving Deposits to Repo Rate
Indo-Asian News Service | March 9, 2019 9:21 AM IST
Mumbai: Lending major SBI said it will link key pricing decision for savings bank deposits and short...
SBI to Link Key Pricing Decisions on Saving Deposits to Repo Rate
indiacom
2019-03-08T22:21:52+00:00
2019-03-08T22:21:52+00:00
State Bank Of India
India.com
No Decision on Taking Jet Airways to National Company Law Tribunal: State Bank of India
IANS | February 25, 2019 9:23 PM IST
Mumbai: The State Bank of India (SBI) on Monday said no decision has been taken on moving the Nation...
No Decision on Taking Jet Airways to National Company Law Tribunal: State Bank of India
indiacom
2019-02-25T10:23:22+00:00
2019-02-25T10:23:22+00:00
State Bank Of India
India.com
'Why Are Banks Not Taking Money I’m Offering?', Asks Fugitive Businessman Vijay Mallya
India.com News Desk | February 14, 2019 12:50 PM IST
London, UK: Embattled fugitive businessman Vijay Mallya on Thursday posed a question on Twitter, as ...
'Why Are Banks Not Taking Money I’m Offering?', Asks Fugitive Businessman Vijay Mallya
indiacom
2019-02-14T01:50:15+00:00
2019-02-14T02:11:30+00:00
State Bank Of India
India.com