State Bank Of India: Learn Key Points Using Mind Map

Introduction:

State Bank of India (SBI) is an Indian multinational, public sector banking and financial services company, owned by Government of India.
As of 31 March 2016,SBI has 49,577 ATMs & SBI group has 58,541 ATMs.
In 2016, Google search trends indicated that SBI jobs is one of the most searched keyword as compared to other banks.
Let us see in detail about the Icon of our Indian Banking Sector.

History

The roots of the State Bank of India lie in the first decade of the 19th century, when the Bank of Calcutta, was established on 2 June 1806.
The Bank of Calcutta, was the oldest commercial bank in India, later renamed as Bank of Bengal.
The Bank of Bengal was one of three Presidency banks, the other two were the Bank of Bombay and the Bank of Madras.
These three banks received the exclusive right to issue paper currency till 1861.
With the Paper Currency Act, the right was taken over by the Government of India.
On 27 January 1921, the three presidency banks got merged as a single bank called the Imperial Bank of India.
On 1 July 1955, the imperial Bank of India became the State Bank of India.
On 2 June 1956, State Bank of India got nationalized.
In 1959, the government passed the State Bank of India (Subsidiary Banks) Act.
This act resulted in the birth of eight Associates of SBI.
In 1963 SBI merged State Bank of Jaipur and State Bank of Bikaner.
On 13 August 2008 State Bank of Saurashtra merged with SBI
On 19 June 2009, State Bank of Indore merged with SBI.
On 7 October 2014, Arundhati Bhattacharya became the first woman to be appointed Chairperson of the bank.
In 2008, the Government of India acquired the Reserve Bank of India's stake in SBI.

Acquisition:

Bank of Bihar in 1969
National Bank of Lahore in 1970.
Krishnaram Baldeo Bank in 1975.
Bank of Cochin in 1985.

Merging of Associate banks:

State Bank of Bikaner & Jaipur (founded 1963)
State Bank of Hyderabad (founded 1941)
State Bank of Mysore (founded 1913)
State Bank of Patiala (founded 1917)
State Bank of Travancore (founded 1945)
Bharatiya Mahila Bank(founded 2013)

Note:

The merger of these six Associates was approved by Union Cabinet on 15 June 2016
On 15 February 2017, the Union Cabinet approved the merger of 5 associate banks with SBI, Except Bharatiya Mahila Bank.
Bharatiya Mahila Bank will be merged in the next fiscal year.

Logo of Imperial Bank of India:

Logo of State Bank of India:

Designed by: Shekhar Kammat
Designed on: 1st October, 1971
Note: The logo was the aerial view of the Kankaria Lake in Ahmedabad, Gujarat.
Tagline :With you all the way
Pure banking nothing else
The nation's bank on us
Headquarter: Mumbai, Maharashtra, India
Founded on: 2 June 1806, Bank of Calcutta
27 January 1921, Imperial Bank of India
1 July 1955, State Bank of India
Chairperson: Arundhati Bhattacharya

Non -Banking Subsidiaries

SBI Capital Markets Ltd
SBI Funds Management Pvt Ltd
SBI Factors & Commercial Services Pvt Ltd
SBI Cards & Payments Services Pvt. Ltd.
SBI DFHI Ltd (SBI Discount and Finance House of India)
SBI Life Insurance Company Limited (joint venture with BNP Paribas)
SBI General Insurance

Associates Banks

State Bank of Patiala (founded 1917)
State Bank of Mysore (founded 1913)
State Bank of Bikaner & Jaipur (founded 1963)
State Bank of Hyderabad (founded 1941)
State Bank of Travancore (founded 1945)
Bharatiya Mahila Bank(founded 2013)

Awards Received:

SBI was ranked 232nd in the Fortune Global 500 rankings of the world's biggest corporations (2016).
SBI was ranked as the top bank in India based on tier 1 capital by The Banker magazine in a 2014 ranking.
SBI was 50th Most Trusted brand in India as per the Brand Trust Report 2013
SBI was 19th Most Trusted Brand in India, as per the Brand Trust Report 2014
SBI was named the 29th most reputed company in the world according to Forbes 2009 rankings

SBI sponsors the following regional rural banks (RRB):

Vananchal Gramin Bank (Jharkhand)
Utkal Grameen Bank (Odissa)
Ellaquai Dehati Bank(JK)
Purvanchal Bank (UP)
Langpi Dehangi Rural Bank (Assam)
Malwa Gramin Bank (Punjab)
Kaveri Grameena Bank (Karnataka)

Apps Launched Recently

e-Forex
e-Kyc
Boutique financing scheme
Tab banking facility
Twitter handle account
Youth for India
IMT (instant money transfer ) App
SBI launches ‘State Bank of India no queue’ mobile app
SBI mingle

SBI PO Smart Prep Kit by Ramandeep Singh - Get here

Bank Exams Today Notes

Join 40,000+ readers and get free notes in your email

Let's block ads! (Why?)

- http://www.bankexamstoday.com/2017/03/state-bank-of-india-learn-key-points.html