State Bank of India (SBI) is the biggest bank in India. It has a 23% Market Share by Assets and a 25% share in the Loans and Deposit Market. To just highlight the sheer size of the bank, it has over 24,000 branches in India and has 3.68 Lakh Crore in Revenue in Financial Year 2020. Among all Indian banks, SBI has the highest number of branches outside India too. About 191 of them in 36 countries as of 2015. But it was not always this big. Let us dig into its history a bit.
The State Bank of India started its journey as Bank of Calcutta on 2nd June 1806. Bank of Calcutta was later renamed as Bank of Bengal and it was part of one of three presidency Banks in India in those times. The other two presidency banks were the Bank of Bombay and Bank of Madras which were established on 15th April 1840 and 1st July 1843, respectively. These three banks subsequently were amalgamated into one and were called Imperial Bank of India.
Reserve Bank of India had the majority stake in the Imperial Bank of India. This Imperial Bank of India later become the State Bank of India which we know as of today on 1st July 1955. The Government of India acquired the RBI’s stake in SBI in 2008 to avoid any conflict of interest.
SBI offers Savings Bank Account, Current Account, Loan and Credit Facilities, NRI Banking Facilities like any other major bank in India. To know more about interest rates offered by SBI on various products and facilities. Click Here
SBI is one of the largest Credit Card service providers in India. They have Credit Cards to cater to most of any Indian’s needs. A few of their Credit Cards are SBI Elite Card, Simply Click, SBI Doctors’ Card, SBI Prime Card, PayTM Card, Tata Cards, Lifestyles Card, SBI BPCL Octane Card, IRCTC Card, etc. To know more about their cards. Click Here
Apart from the interesting facts stated above in the History of SBI, here are a few interesting facts about SBI.
You can find contact details and all the codes of all the SBI Branches in India here.