State Bank of India (SBI) is that nation's biggest business bank. The legislature controlled bank- - the Indian government keeps up a stake of about 60 percent in SBI through the focal Reserve Bank of India- - additionally works the world's biggest branch arrange, with more than 13,500 branch workplaces all through India, staffed by almost 220,000 representatives. SBI is likewise present around the world, with seven worldwide auxiliaries in the United States, Canada, Nepal, Bhutan, Nigeria, Mauritius, and the United Kingdom, and more than 50 branch workplaces in 30 nations. Long an arm of the Indian government's foundation, horticultural, and modern improvement approaches, SBI has been compelled to redo its operations since rivalry was brought into the nation's business keeping money framework.

As a component of that exertion, SBI has been revealing its own particular system of mechanized teller machines, and additionally creating at whatever time anyplace keeping money benefits through Internet and different advancements.

SBI additionally has exploited the deregulation of the Indian saving money division to enter the bancassurance, resources administration, and securities facilitating areas.

What's more, SBI has been chipping away at reigning in its branch arrange, diminishing its finance, and fortifying its advance portfolio. In 2003, SBI detailed income of $10.36 billion and aggregate resources of $104.81 billion.

Order

Key Dates:

1806: The Bank of Calcutta is built up as the main Western-sort bank.

1809: The bank gets a sanction from the supreme government and changes its name to Bank of Bengal.

1840: A sister bank, Bank of Bombay, is shaped.

1843: Another sister bank is shaped: Bank of Madras, which, together with Bank of Bengal and Bank of Bombay get to be distinctly known as the administration banks, which had the privilege to issue money in their districts.

1861: The Presidency Banks Act takes away money issuing benefits yet offers motivating forces to start quick extension, and the three banks open about 50 branches among them by the mid-1870s.

1876: The making of Central Treasuries closes the extension period of the administration banks.

1921: The administration banks are converged to shape a solitary substance, Imperial Bank of India.

1955: The nationalization of Imperial Bank of India results in the arrangement of the State Bank of India, which then turns into an essential component behind the nation's modern, agrarian, and country advancement.

1969: The Indian government sets up a restraining infrastructure over the managing an account part.

1972: SBI starts offering vendor keeping money administrations.

1986: SBI Capital Markets is made.

1995: SBI Commercial and International Bank Ltd. are propelled as a component of SBI's ventured up worldwide managing an account operations.

1998: SBI dispatches Visas in organization with GE Capital.

2002: SBI systems 3,000 branches in a monstrous innovation usage.

2004: A systems administration exertion achieves 4,000 branches.

Extra Details

Open Company (60% Government-Owned)

Fused: 1921 as the Imperial Bank of India

Workers: 220,000

Total Assets: $104.81 billion (2003)

Stock Exchanges: Mumbai Kolkata Chennai Ahmedabad Delhi New York London

Ticker Symbol: SBI

NAIC: 522110 Commercial Banking