STATE BANK OF INDIA (SBI)

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Abhijeet S
SBI State Bank of India is largest Bank in India and in the entire Indian Sub-continent with far flung Branches. In fact, in regards to its employees and branches, the State Bank of India is the largest Bank in the world.


Founded in 1806, SBI has evolved to be a major Bank of India to provide financial assistance, with the most extensive Networking all over the world and many leading SBI Associate Banks, Not just the SBI branches but also the SBI ATMs are found in the nook and corner of India.


customers. In fact, the State Bank of India is a leading Credit Card Bank that introduced the facility of ATM Cards and Internet Banking to all its Branches in the interiors of India. In the true sense of the term, the State Bank of India has been a visionary with the incorporation of all the modern and contemporary trends.


At the same time, the State Bank of India has been instrumental in facilitating Finance for Agriculture by dedicating special Rural Branches. Not just Financial Services, but Counseling on the SBI- State Bank of India Interest Rates and various SBI Loans meant for laborers is provided.


In fact, SBI Card has been provided to all the rural clients so to enable them to enjoy the fruits of Globalization. The bank traces its ancestry back through the Imperial Bank of India to the founding in 1806 of the Bank of Calcutta, making it the oldest commercial bank in the Indian Subcontinent.


The Government of India nationalized the Imperial Bank of India in 1955, with the Reserve Bank of India taking a 60% stake, and renamed it the State Bank of India. In 2008, the Government took over the stake held by the Reserve Bank of India.


SBI provides a range of banking products through its vast network in India and overseas, including products aimed at NRIs. The State Bank Group, with over 16000 branches, has the largest branch network in India.


With an asset base of $250 billion and $195 billion in deposits, it is a regional banking behemoth. It has a market share among Indian commercial banks of about 20% in deposits and advances, and SBI accounts for almost one-fifth of the nation’s loans.


SBI has tried to reduce its over-staffing through computerizing operations and Golden handshake schemes that led to a flight of its best and brightest managers.
 
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