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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]
Rank Name of the Bank Year of Founding Year of Closing Fate Headquartered in References [1]; 1: The Madras Bank (1683) 1683: 1843: Merged with the Carnatic Bank, The British Bank of Madras (1795), and the Asiatic Bank to form the Bank of Madras in 1843
State Bank of India, largest bank of India with a multinational presence; State bureau of investigation, a state-level detective agency in the United States; Surabaya Pasar Turi railway station, Surabaya, East Java, Indonesia (station code: SBI) Sweet Baby Inc., a Canadian narrative development and consultation studio
The seven other state banks became subsidiaries of the new bank in 1959 when the State Bank of India (Subsidiary Banks) Act, 1959 was passed by the Union government. [ 1 ] The next major government intervention in banking took place on 19 July 1969 when the Indira government nationalised an additional 14 major banks.
Now the bank is an Associate Bank under State Bank Group and the State Bank of India holds 92.33% of shares. [5] The Bank's shares were listed in Bangalore, Chennai, and Mumbai stock exchanges. This bank had 976 branches and 10627 employees (June 2014) and the Bank has 772 branches (79%) in Karnataka State. [ 6 ]
State Bank of Indore (Indore Bank) was a government-owned Indian bank and the largest of State Bank of India's (SBI) six associate bank subsidiaries. In October 2009, the Government of India gave its in-principle approval to a merger between State Bank of India and State Bank of Indore. [1] On 15 July 2010 the Cabinet cleared the merger.
State Bank of Travancore (SBT) was a major Indian bank headquartered in Thiruvananthapuram, Kerala, and was a major associate of State Bank of India. SBT was a subsidiary of the State Bank Group , but also had private share-holders.
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