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This list of banks that have merged to form the State Bank of India includes financial institutions that were at one point or the other merged with the State Bank of India or any of its subsidiaries. This list includes the banks which have been subsidiaries or associates of the State Bank of India.
Thereafter it merged State Bank of Indore with itself on August 27, 2010. [5] The remaining subsidiaries, namely the State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore, and Bharatiya Mahila Bank were merged with State Bank of India with effect from 1 April 2017.
State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra.It is the 48th largest bank in the world by total assets and ranked 178th in the Fortune Global 500 list of the world's biggest corporations of 2024, being the only Indian bank on the list. [11]
Bharatiya Mahila Bank (BMB; lit. ' Indian Women's Bank ') was a fully owned subsidiary of State Bank of India based in Mumbai, India.Former Indian Prime Minister Manmohan Singh inaugurated the system on 19 November 2013 on the occasion of the 96th birth anniversary of former Indian Prime Minister Indira Gandhi. [1]
The three banks were merged in 1921 to form the Imperial Bank of India, which upon India's independence, became the State Bank of India in 1955. For many years, the presidency banks had acted as quasi-central banks, as did their successors, until the Reserve Bank of India [5] was established in 1935, under the Reserve Bank of India Act, 1934.
This is a list of banks which are considered to be Scheduled Banks under the second schedule of RBI Act, 1934. [1] [2]At end-March 2024, India’s commercial banking sector consisted of 12 public sector banks (PSBs), 21 private sector banks (PVBs), 45 foreign banks (FBs), 12 SFBs, six PBs, 43 RRBs, and two LABs.
The amalgamation is the first-ever three-way consolidation of banks in the country, with a combined business of Rs14.82 trillion (short scale), making it the third largest bank after State Bank of India (SBI) and ICICI Bank. [18] Post-merger effective 1 April 2019, the bank has become the India's third largest lender behind SBI and ICICI Bank ...
The State Bank of India or SBI is an Indian multinational, public sector banking and financial services statutory body, headquartered in Mumbai. SBI is ranked as 216th in the Fortune Global 500 list of the world's biggest corporations of 2018.