When it’s about banking, SBI is the most trusted and preferred bank in India. Every year many aspiring candidates prepare for the bank exams under State Bank of India to make a career in the banking sector. SBI is a government owned corporation having headquarter in Mumbai, Maharashtra, it has 18.354 branches in India. Under Pradhan Mantri Jan Dhan Yojana SBI has opened over 3 million accounts which include 2.1 million accounts in rural areas and 1.57 million accounts in urban areas.SBI is the largest bank in India having branches in foreign countries including China, USA etc.
Bank of Bengal
The first presidency of SBI was built in Kolkata in the year 1806 by the Britisher’s and it was named as Bank of Bengal.
Expansion
SBI opened two new branches in Mumbai and Madras those are
- State Bank of Madras in 1843.
- State Bank of Bombay in 1840.
Paper Currency Act
After the implementation of paper currency act in 1861, these three banks had exclusive rights for the production of paper currency.
Imperial Bank of India
In 1921 these three banks (Bank of Bengal, State Bank of Bombay and State Bank of Madras ) were merged to form Imperial Bank of India.
After Independence
Imperial Bank of India was acquired by RBI (Reserve Bank Of India) in 1955 and renamed as State Bank of India.
Associate Banks
In 1959 SBI had eight associate banks.
State Bank of Bikaner.
State Bank of Saurashtra.
State Bank of Patiala.
State Bank of Mysore.
State Bank of Indore.
State Bank of Hyderabad.
State Bank of Travancore.
State Bank of Jaipur.
Collaboration of Associate banks
Among these 8 banks, State Bank of Jaipur and State bank of Bikaner merged to form State Bank of Bikaner and Jaipur in 1963.
In 2008 State Bank of Saurashtra merged with State Bank of India.
State Bank of Indore also merged with State bank of India in 2010.
Worldwide Expansion
SBI has 190 foreign offices in 36 countries.
ATMs
SBI has 59000+ ATMs in India
ATM at Drass
SBI is the first bank of open an ATM at Drass in the J & K Kargil region.
First Women chairperson Of SBI
Arundhati Bhattacharya is the first women chairperson of State Bank of India.
If you have decided you want a career in banking sector then SBI is the best bank to work with, prepare yourself with the facts which can be asked in the upcoming bank exams under SBI before you apply.
About Author:
Brojesh Baidya is a content writer by profession with a degree in Engineering. In addition to writing, he likes to compose music of his own. He is presently exploring all about the digital education with Byju’s-the Learning App.
