SBI establishment day celebrated on 1st july.
The headquarters of SBI is in Mumbai, India.
FORMATION OF SBI:
Three Presidency Banks were set up under British
East India company-Bank of Calcutta, Bank of Madras and Bank of Bombay.
Bank of Calcutta established in 1806 and later
on became Bank of Bengal.
Two other presidency bank was established, Bank
of Bombay in 1840 and Bank of Madras in 1843. These three banks were private shareholders’
bank.
East India Company also contributed to the share
capital of each of them.
The bulk of the share capital had come from
private shareholders mostly Europeans.
Presidency Banks were amalgamated into the
Imperial Bank of India (IBI) which was established in 27 January 1921.
On 30 April 1955 RBI renamed Imperial Bank of
India (IBI) as State Bank of India.State Bank of India (Subsidiary Banks) Act
passed in 1959.
In 1959, eight banks were converted as associate
banks of SBI
1.State
Bank of Bikaner
2.State Bank of Jaipur
3.State
Bank of Hyderbad
4.State
Bank of Indore
5.State
Bank of Mysore
6.State
Bank of Saurashtra
7.State
Bank of Patoila
8.State
Bank of Travancore
In 1963, State Bank of Bikaner and State Bank of
Jaipur were merged to form State Bank of Bikaner and Jaipur.
In 2008, State Bank of Saurashtra was merged
with the Parent Bank- SBI In 2010, State Bank of Indore was merged with – SBI.
The total number of Associate Banks of SBI
currently working in India- Five (5) .
SBI has about 25,000 ATMs
SBI has 27000 branches including branches that
belong to its associate banks.
Slogans of SBI:
1.With you all the way.
2.Pure banking nothing else.
3.The Banker to every Indian.
4.The Nation banks on us.
IMPORTANT POINTS:
SBI was nationalised according to SBI Parliament
Act 1955.
