Sbi Is Celebrating 64Th Banking Concern Twenty-Four Hours Today : Of Import Highlights

India’s largest lender State Bank of Bharat (SBI) is observing 64th Bank Day today. On this twenty-four hours (1st July) inward the yr 1955, the Imperial Bank of India, the oldest too largest commercial banking concern of the Indian subcontinent, was transformed into the State Bank of Bharat (SBI). This transformation marked induce of a novel era of banking inward India. Now let’s encounter the brief history behind SBI too how it became India’s largest bank. These details volition attention you lot inward the Banking Awareness department for upcoming SBI PO, Clerks, IBPS too other banking exams. Happy Reading 🙂

Brief History of State Bank of Bharat (SBI)

  • The Imperial Bank of Bharat was created on 27th Jan 1921 past times amalgamation of iii presidency banks. Those are
    • Bank of Bengal (estd on sec June 1806)
    • Bank of Bombay (estd on 15th Apr 1840)
    • Bank of Madras (estd on 1st July 1843)
  • As per purplish charter, the Imperial Bank was acted equally the cardinal banking concern of British Bharat till 1935 (The yr when the Reserve Bank of Bharat (RBI) was established).
Later inward the yr 1955, the Indian Government took command of the Imperial Bank too renamed it equally State Bank of Bharat (SBI) with RBI taking 60% stake.

Subsidiaries of SBI

SBI had 8 subsidiaries. These were formed inward 1959 alongside the State Bank of Bharat (Subsidiary Banks) Act. This human activeness made 8 banks that had belonged to princely states into subsidiaries of SBI. They are :
  • State Bank of Hyderabad
  • State Bank of Mysore
  • State Bank of Indore
  • State Bank of Patiala
  • State Bank of Saurastra
  • State Bank of Travancore
  • State Bank of Jaipur
  • State Baml of Bikaner
Subsequently all these banks along alongside Bharatiya Mahila Bank (BMB) merged alongside SBI.

Non-banking subsidiaries of SBI

SBI’s has next non-banking subsidiaries.
  • SBI Capital Markets Ltd
  • SBI Cards & Payments Services Pvt. Ltd. (SBICPSL)
  • SBI Life Insurance Company Limited
  • SBI Life Insurance companionship Ltd (joint venture alongside BNP Paribas)

Important Details you lot should know close State Bank of Bharat (SBI)

  • SBI is directly India’s largest banking concern too a Fortune 500 company.
  • SBI’s headquarters located at State Bank Bhavan, Nariman Point, Mumbai.
  • On seven Oct 2013, Arundhati Bhattacharya became the kickoff adult woman to move appointed Chairperson of the bank.
  • Present Chairman of SBI is Rajnish Kumar.
  • SBI was ranked 232nd inward the Fortune Global 500 rankings of the world’s biggest corporations for the yr 2016.
  • SBI has sixteen regional hubs too 57 zonal offices that are located at of import cities throughout India.
  • Since Nov 2017, SBI also offers an integrated digital banking platform named YONO.
  • SBI has over 24000 branches inward India.
  • SBI has 191 overseas offices spread over 36 countries having the largest presence inward unusual markets amid Indian banks.
  • Total revenue of SBI (as inward 2018) is ₹265,100 crore.
  • Total assets of SBI are ₹3,312,461 crore.
  • As of now, the State Bank of Bharat (SBI) has 2,64,041 employees, amid them 1,07,077 are officers. A recruitment procedure for 2000 Probationary Officers too 8593 Clerical posts is underway.
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