We all have heard of the State Bank Of India, one of the most reputable multinational public sector banks and financial services statutory bodies. Many of us are account holders in the bank and appreciate their services. However, if you are an aspirant who wishes to build a career in the banking sector, particularly in the State bank of India then this article is exactly what you must read. Through this article, we will share some very interesting and informative points about the State bank of India that you might not have heard before. These details will just not help know the bank better and understand the prospects but also during the interview, where there might be questions related to the bank that if you answer you will appear as a well-informed candidate and get some additional points over others. Now, without any further ado let’s start reading.
The Origin Of The State Bank Of India
From the points mentioned below, we will gather some interesting facts about the State bank of India that you must know as a banking aspirant or a general person who likes to stay updated.
- The State Bank of India was constituted on 1 July 1955. However, the origin of SBI moves back to 2 June 1806 when the Bank of Calcutta was built in Calcutta.
- Then on 2 January 1809, 3 years later the bank obtained its charter and was re-designed as the Bank of Bengal.
- It was the foremost joint-stock bank of British India funded by the Government of Bengal. On 15th April 1840, the Bank of Bombay and on 11th July 1843 the Bank of Madras tracked the Bank of Bengal.
- These 3 banks stayed at the apex of modern banking in India till their amalgamation on 27 January 1921 as the Imperial Bank of India.
- When India gained freedom, the Imperial Bank had a capital base that also included reserves of INR 11.85 crores, deposits and advances of INR 275.14 crores and INR 72.94 crores respectively, and a network of 172 branches and more than 200 sub-offices spreading all over the country.
- The All India Rural Credit Survey Committee suggested the creation of a state-partnered and state-sponsored bank by taking over the Imperial Bank of India.
- Thus, in May 1955 an act was handed to Parliament in and the State Bank of India was constituted on 1 July 1955.
- Later, in 1959 the State Bank of India Subsidiary Banks Act was passed, allowing the State Bank of India to take over eight former state-associated banks as its subsidiaries, later named associates.
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Important Facts About The State Bank Of India
Gather a few interesting points about the State Bank of India that will help you understand the bank better.
- SBI is the largest Indian banking & financial service company. The headquarters are found in Mumbai, Maharashtra.
- It is the first bank to open an ATM at Drass in the Jammu & Kashmir Kargil region. Besides that, it is the first bank to open a branch in China.
- SBI has 190 foreign offices in 36 countries and also more than 15,000 branches all over India.
- The first woman to be designated as the chairperson of SBI is Arundhati Bhattacharya.
- The current, chairperson of the State bank of India is Mr Shri Dinesh Kumar Khara.
Learn about the SBI Clerk Result to know about the cut-off and other particulars of the exam.