About the Company
State Bank of India (SBI) is the largest public sector bank in India, with a legacy spanning over 200 years, originating as the Bank of Calcutta in 1806. Headquartered in Mumbai, SBI offers a wide range of banking and financial services to individuals, businesses, and institutions, both domestically and internationally.
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Largest Public Sector Bank:
SBI holds a significant market share in the Indian banking sector, with a substantial network of branches and ATMs.
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Public Sector Entity:
SBI is a government-owned corporation, operating under the purview of the Ministry of Finance.
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Global Presence:
SBI operates branches and offices in various countries, serving international customers.
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Universal Bank:
SBI provides a comprehensive suite of banking services, including retail banking, corporate banking, and treasury operations.
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Legacy and Evolution:
SBI evolved from the Bank of Calcutta, a colonial-era bank, and later merged with other banks to form the Imperial Bank of India (IBI) before becoming State Bank of India in 1955.
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Nationalization:
The bank was nationalized by the Indian government in 1955.
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Ownership:
While initially held jointly with the Reserve Bank of India, the government eventually took full ownership.
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Subsidiaries and Diversification:
SBI has diversified into various financial services through subsidiaries like SBI Life Insurance and SBI Mutual Fund.
- Deposit Accounts: Savings accounts, fixed deposits, and term deposits.
- Loans: Personal loans, home loans, business loans, car loans, and other financing options.
- Credit Cards and Debit Cards: Banking cards for various transactions and purchases.
- Digital Banking: Mobile banking, internet banking, and ATM services.
- International Banking: Foreign inward remittances, trade finance, and offshore banking.
- Treasury Services: Investment portfolio management and trading.
- Other Services: Safe deposit lockers, money transfer, and cash management.
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