State Bank of India
State bank of India (SBI) came into force in early 19 century. It was established on 2 June 1806 with the establishment of Bank of Calcutta in Calcutta. Just after 3 years, it was redegine with the name Bank of Bengal. Just after bank of Bengal came into existence, other banks bank of Bombay and bank of Madras came into scenario. These three banks dominated most of the modern banking before they were merged and form a single bank under the name of Imperial bank of India on 27 January 1921. The overall outlook of Imperial Bank was changed with the first five years plan of independent India in the year 1951, the name of the bank also changed to State bank of India.
The main motto of that plan is to boost the economy of the country and help the rural development, in particular. SBI appears, as a trendsetter with its functions that was carried out by 480 offices comprises of branches, sub offices, and three local head offices that was take over from Imperial bank. Toady SBI serve all banking operations to its customers and supporting financial development of the country as a whole.
The head office of SBI is located in Mumbai (Maharashtra). The overall capital of SBI is about 4812 crores and the share capital in 59.73 percent. In order to furnish various functions SBI has established many corporate centers in and outside Mumbai. It has 14 local head office and 57 zonal offices, which is located at important cities throughout the country. Recently SBI has announced its 10000 branch in the country with that we can imagine how big and better there network is when it comes to banking.
SBI has largest number of ATMs than any other bank in the country including private bank as well. The network of the bank is incomparable. Apart from SBI, it has seven subsidiary banks like State Bank of Bikaner and Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of Indore (SBIR), State Bank of Mysore (SBM), State Bank of Patiala (SBP), State Bank of Saurashtra (SBS), and State Bank of Travancore (SBT).
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