The State Bank of India (SBI) dates back to the first decade of the 19th century, with the establishment of the Bank of Calcutta in 1806. The bank was re-designed as the Bank of Bengal in 1809, and in 1955, the Bank of Madras merged into the Bank of Calcutta and the Bank of Bombay to form the Imperial Bank of India. The Government of India took control of the Imperial Bank of India in 1955, and the Reserve Bank of India (India’s central bank) took a 60% stake, renaming it State Bank of India

SBI is the oldest commercial bank in the Indian Subcontinent, and the largest Indian bank with a quarter of the market share. It has over 22,405 branches, 65,627 ATMs/ADWMs, and 76,089 BC outlets, serving more than 48 crore customers. 

SBI offers a wide range of services, including retail banking, corporate banking, investment banking, mortgage loans, private banking, wealth management, risk management, asset management, investment management, mutual funds, exchange-traded funds, index funds, credit cards, and insurance. 

John Mathai was the first chairman of SBI. The bank has been formed from the merger and acquisition of more than twenty banks over the course of its 200-year history

Which is the first state owned bank

The State Bank of India (SBI) was the first state-owned bank in India. In 1955, the SBI Act was passed to convert the bank into the State Bank of India. The SBI is the oldest commercial bank in the Indian subcontinent, with its origins dating back to the Bank of Calcutta in 1806. The Bank of Calcutta was the first joint-stock bank of British India, established in 1806 with the sponsorship of the Government of Bengal

The Central Bank of India was the first Indian commercial bank to be wholly owned and managed by Indians, established in 1911

The largest and the oldest bank which is still in existence is the State Bank of India (SBI). It originated and started working as the Bank of Calcutta in mid-June 1806. In 1809, it was renamed as the Bank of Bengal

Which is the first private bank of india

IndusInd Bank, established in 1994 by SP Hinduja, is India’s first private sector bank. Private individuals created the bank to finance trade and other commercial activities, and it has 760 branches in India. The bank’s name is inspired by the Indus Valley Civilization, and its main focus is to serve NRI customers

HDFC Bank, also known as Housing Development Finance Corporation Limited, is India’s largest private sector bank by assets. As of January 2024, it was the world’s sixth-largest bank by market capitalization

According to Shoonya Blog, HDFC Bank is the top private bank in India. HDFC Bank is known for its innovative thinking, excellent customer service, and surplus technology integration in its services. It also plays a crucial role in providing seamless home loans across urban, semi-urban, and rural India

Other top private banks in India include:

• ICICI Bank A leading and best private bank in India, offering a wide spectrum of financial services, including retail and corporate banking, loans, wealth management, and international banking 
• Axis Bank The premier bank for the new generation 
• YES Bank The bank that is growing exponentially because the bank is constantly evolving and working to serve customers 
• South Indian Bank One of India’s leading private banks, with an extensive network comprising 968 branches and 1,500 ATMs across the nation 

Which is no 1 private bank of world

According to Global Finance Magazine, J.P. Morgan Private Bank is the world’s best private bank for 2024. This is the fifth year in a row that J.P. Morgan Private Bank has received this recognition

According to GeeksforGeeks, the top three private banks in the world for 2024 are:

1. J.P. Morgan Private Bank 
2. UBS Global Wealth Management 
3. Julius Baer 

Global Brands Magazine also lists J.P. Morgan as the top private bank in the world, followed by BNP Paribas, LGT Bank, Industrial and Commercial Bank of China, DBS Private Banking, Morgan Stanley, HSBC, and Wells Fargo

J.P. Morgan: Top Private Bank in the World. J.P. Morgan Chase & Co., often simply referred to as J.P. Morgan, is a behemoth in the financial services industry. Founded in 1799, it stands as the largest bank in the United States by assets and the world’s largest bank by market value

Where is the headquarter of SBI?

MumbaiState Bank of India/Headquarters

Who is Chairman of SBI?

Dinesh Kumar KharaState Bank of India/Chairperson

Dinesh Kumar Khara is the Chairman of State Bank of India. Prior to being appointed as Chairman of the Bank he was Managing Director (Global Banking & Subsidiaries) of the Bank. In his role as MD (GB&S) he led and steered the International Banking Group, Corporate and Treasury operations of the Bank.

SBI a government bank?

The State Bank of India (SBI) is a government-owned bank. It is a public sector bank and the largest commercial bank in India. SBI was established in 1955 and is owned by the Government of India.

What is SBI tagline?

“Pure Banking, Nothing Else” is the tagline of SBI Bank. State Bank of India (SBI) is a publicly traded Indian bank and provider of financial services worldwide.

What are the 16 circles of SBI?

The 16 Circles are Ahmedabad, Andhra Pradesh (new), Bengaluru, Bhopal, Bhubaneswar, Chandigarh, Chennai, Delhi, Jaipur (new), Kolkata, Lucknow, Mumbai, North-East, Patna, Telangana, and Thiruvananthapuram

Which bank is 100% government bank?

The names of the national banks in India are Indian Bank, Punjab National Bank, Bank of Baroda, Bank of India, Central Bank of India, Canara Bank, Union Bank of India, Indian Overseas Bank, Punjab, and Sind Bank, UCO Bank, and Bank of Maharashtra and State Bank of India

What is the meaning of SBI logo?

SBI’s logo is inspired by Ahmedabad’s Kankaria Lake. State Bank of India’s logo, a blue circle with a cut in the centre, was designed by the National Institute of Design, Ahmedabad and is said to be inspired by the city’s Kankaria Lake

How big is SBI?

The public sector State Bank of India is the country’s largest lender with a market capitalisation of close to ₹5.8 trillion, an asset base of over ₹60 trillion, and a branch spread of about 22,500. SBI is present in 29 countries and has over 230 overseas offices and joint ventures operations

Why is SBI famous?

SBI emerged the biggest bank with 30 per cent of the Truecallers users using it. NEW DELHI: While private banks are quite popular with consumers for online transactions, State Bank of India (SBI) sees most transactions in big cities

How many banks are under SBI?

There are five associate banks of SBI and the sixth one is Bharatiya Mahila Bank. The evolution of SBI in recent years has been noticeable. It is one of the oldest banks operating in India

What is the color of SBI logo?

About the Corporate Logo

The logo colors are SBI blue and SBI red. SBI blue represents reason, and the ability to make accurate, composed decisions. SBI red (arch) represents the passion to create a new future for the financial services industry

SBI share returns in last 10 years

As of April 10, 2024, the State Bank of India’s (SBI) share price range was ₹793.40–₹145.60 over the past 10 years. The highest price in the last 10 years was ₹793.40, and the lowest was ₹145.60. In 2014, the SBI share price was ₹311.85

Here are some other SBI share returns over the past 10 years:

• ROE%: 1 year: 18.05%, 3 years: 13.46%, 5 years: 9.59% 
• ROA%: 1 year: 0.96%, 3 years: 0.7%, 5 years: 0.5% 
• Net NPA%: 1 year: 0.67%, 3 years: 1.06%, 5 years: 1.69% 
• NIM: 1 year: 2.85%, 3 years: 2.71%, 5 years: 2.69% 

According to stockpricearchive.com, the SBI share price in 2010 was ₹281.11

State Bank of India (SBI) launched its Initial Public Offer (IPO) in 1993. In 2008, the Indian government took control of RBI’s stake in SBI. The last rights shares that SBI had issued were in 2008 at a premium of Rs 1,580 per share

State Bank of India (SBI) is India’s largest bank, with a 23% market share by assets and 25% share of the total loan and deposits market. It also has a strong presence abroad, with more than 233 foreign branches in 36 countries

As of April 2024, SBI has a market cap of $83.42 billion, making it the world’s 198th most valuable company by market cap. SBI’s market share in home loans is 33.1% and in auto loans is 19.4% as of March 2023

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. It is also the tenth largest employer in India with nearly 250,000 employees. In 2023, the company’s seat in Forbes Global 2000 was 77

SBI products and services

The State Bank of India (SBI) offers a wide range of products and services, including:

Savings accounts, Deposits, Loans, Debit cards, Credit cards, Fixed deposits, Personal loans, Home loans, Business loans, Loan against property, Car loans, Gold loans, and Mudra loans

SBI also offers other services, such as:

• Education loans 
• Health insurance options 
• Vehicle and home insurance 
• Demat accounts 
• Wealth management 
• Precious metals 
• Private banking 

SBI ATMs also offer services such as mobile recharge and bill payments

SBI offers a number of digital banking products, including:

• SBI Online 
• SBI YONO 
• YONO Lite 
• BHIM SBI Pay 
• E-Ticketing 
• SBI E-Tax 
• Mobile banking 
• Digital lending

These products allow customers to:

• Send money 
• Record standing instructions to transfer a fixed amount at a scheduled frequency 
• Transfer funds to NRE PIS accounts to facilitate online trading 
• Make digital collections through SBI Pay (a mobile based payment solution) 
• Use SBI Buddy, which can be integrated with any corporate’s payment interface 

SBI has also been using AI and facial recognition technologies to allow customers to open a digital savings account through its YONO mobile banking app. AI-based tools also enable the bank to identify branches that are prone to fraud and suspicious chargeback complaints

SBI’s digital savings account is a paperless account that can be opened through the SBI YONO app with a PAN and Aadhaar number. It comes with an ATM-cum-debit card that gives instant access to money. Digital savings accounts typically come with a virtual debit card or a physical debit card that can be used for online transactions

Benefits of SBI’s digital savings account include: No minimum balance required, OTP based authentication, Quick access to banking, Video KYC, and You can invest in your savings account through zero account balance. 

You can only have one SBI Digital Savings Account at a time. You can close the account by making a written request at the home branch only

Here are some differences between SBI’s digital and normal accounts:

• Opening Digital accounts can be opened online in minutes, while regular accounts can be opened online or in person at a bank. 
• Debit card Digital accounts come with virtual debit cards that can be used for online transactions, while regular accounts come with physical debit cards that require yearly maintenance charges. 
• Minimum balance Digital accounts don’t require a minimum balance, while regular accounts have a low monthly average balance of Rs 5,000. 
• Free services Digital accounts offer the first 10 cheque leaves free in a financial year, while regular accounts offer 10 free cheque leaves every year. 
• Withdrawals Digital accounts have restricted free withdrawals based on the monthly average balance, while regular accounts offer free cash withdrawal from the home branch

State bank of india has a very rich history and is now no 1 leading government bank of india and it’s a national pride

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