Company History - State Bank of India 1955 - On 1st July State Bank of India was constituted under the State Bank of India Act 1955, for the purpose of taking over the undertaking and business of the Imperial Bank of India. The Imperial Bank of India was founded in 1921 under the Imperial Bank of India Act 1920. The Bank transacts general banking business of every description including, foreign exchange, merchant banking and mutual funds. 1959 - On September State Bank of India (Subsidiary Bank) Act was passed.
On October State Bank of Hyderabad become the first subsidiary of SBI. 1960 - During this period, State Bank of Jaipur, State Bank of Bikaner, State Bank of Indore, State Bank of Travancore, State Bank of Mysore, State Bank Patiala and State Bank of Saurashtra became subsidiaries of the bank. 1962 - The Bhor State Bank Ltd was Amalgamated with the Bank bring the total number of minor State associated banks so amalgamated to five. A scheme for amalgamation of the Bank of Aundh Ltd., was also approved. On 20th August, the Unit Bank Ltd.
Chennai was taken over by the Bank. 1963 - In october Branch in London become bankers to the Indian High Commission, thereby taking over a function till then performed by the office of RBI. Of the other business transacted by the Branch, an important aspect was medium term loans mostly to Indian shipping companies. 1969 - On November 8th the Bank of Behar Ltd was amalgamated. 1972 - A merchant banking division was set up in the central office to cater to promotional needs of the corporate sector. 1977 - During the year bank introduced the Perennial Pension Plan Scheme under which if the depositors make a regular monthly payment of a fixed amount for a period of 84 to 132 months, they become eligible from the 86th and 134th months respectively for getting a monthly pension of predetermined amount forever.
In order to meet all the developmental needs of the villages including their social and cultural needs, the bank launched an integrated rural developement programme, aimed at not only covering the credit needs of agriculture and agricultural activities and village industries, but also housing and social activities. 1980 - Bank introduced the cash Certificate Scheme under which deposit certificate are issued for a fixed period on payment of the issue price specified for the respective maturity period and the face value corresponding to the issue price plus interest compounded at quarterly intervals is paid on maturity. The certificates are issued for the face value of Rs 100, Rs 1000, Rs 10,000 and Rs 50,000 maturing after 29,65,84 and 120 months. 1982 - The Non-Resident Investment Cell was set up, which had streamlined the working operations of the non-resident investment sections at important centers. 1983 - SBI launched self employment scheme, for providing self-employment to educated unemployed youth. Educated unemployed youths are encouraged to undertake self-employment ventures in industry, services and business.
Buku paket bahasa arab mts kelas 9 pdf. 1984 - The bank provide need-based rehabitation assistance to large and medium sick industrial units. 1985 - During the year, company set up a data bank of sick units available for taken over by healthy units. With effect from 26th August, the Bank of Cochin Ltd with 108 branches was also amalgamated with the Bank. (i) All shares in the Capital of the Imperial Bank of India was vested in the RBI. The SBI was registered with an Authorised capital of Rs.20 crores, and an issued and paid up capital of Rs.562,50,000 divided into 562,500 shares of Rs.100 each.
(ii) Every person who on the 30th June, 1955, was registered as a holder of shares in the Imperial Bank of India was paid by the Reserve Bank of India. 44,37,500 No. Of shares issued at a premium of Rs 160 per share.
1986 - At the end of the year 324 sick units with an outstanding of Rs 1069 crores were assisted. Of these, 107 units were considered viable and 60 from them were placed under regular nursing programme. On 1st August a new subsidiary named SBI Capital Market was functioning independently, took up leasing business and certain other new services. 100,00,00 No. Of shares issued at a prem. Of Rs 160 per share.
1987 - Up to the end of the year the bank had sponsored 30 Regional Rural Banks covering 66 backward and underbanked districts in the country. In terms of deployment, the advances portfolio of overseas offices rose to Rs 5,767 crores. Investments in inter-bank money markets and also in prime securities amounted to Rs 2,670 crores by the end of the year. 1988 - During the year bank initiated UPTECH an Industrial Technology Group to direct and guide programmes aimed at facilitating technology upgradation. Also a scheme to develop enterpreneurship among woman under the name 'Stree Shakti' was launched. Several concessions in respect of margin and and rate of interest have been built into the package.
Three pilot programmes were launched at Chennai, Calcutta, and Hyderabad. On 20th September, the bank inaugurated `SBINET,' an integrated communication project aimed at improving customer service, operational efficiency and administrative convenience.
The network has been designed to handle voice, fax data and manages through the trunk routes and exchanges in important centres. The bank sponsored 30 RRB's covering 66 divisions in the country. 74 branches were opened raising the branch network to 2,306. 1989 - SBICAP, in their capacity as Trustee and Manager of Mutual Fund, launched two scheme viz., Mangnum Monthly Income Scheme 1989 and Magnum Tax Service Scheme 1990. During the same period SBI in association with Morgan Stanley Asset Management Inc. Of USA, launched the India Magnum Fund. 1990 - New products launched during the year included a Regular Income Scheme, offering an assured return in excess of 12% and the first Pure Growth Scheme aimed at capital appreciation.
A Second offshore fund of US $ 12 million called Asian Convertible and Indian Fund was launched in association with Asian Development Bank, Manila. During Kharif 1990, the bank introduced an agricultural credit card, known as SBI Green Card to give greater liquidity and flexibility to farmers in procuring agricultural inputs. The scheme was introduced on a pilot basis in 125 intensive centre branches. As at on 31st March, SBIMF had over 3,40,000 Indian investors and about Rs 475 crores by way of investible domestic funds. 50,00,000 No. Of shares issued at a prem.
Of Rs 160 per share. 1991 - During February the bank set up a new subsidiary called the SBI Factors and Commercial Serviced Pvt.
For rendering factoring services to the industrial and commercial units in Western India. 1992 - The bank sponsored 30 RRBs with a network of 3189 offices covering 102 backward and under banked districts of the country. A sum of Rs 15.25 crores was contributed towards the share capital of the RRBs. During the period bank intoduced `Stockinvest' scheme. Also introduced a `Gyan Jyoti' that replaced earlier education loan schemes and offers substantial augmented assistance to students pursuing higher studies.
Moreover dedicated NRI branches equipped with State-of-the-art technology was set up at Mumbai and Delhi to cater to the special needs of NRI residents. 1993 - During the year as a part of its overseas expansion the bank established representative office in Tashkent.
During December, the bank issued 124,000,000 equity shares of Rs.10 each for cash at a premium of 90 per share of which 245,00,000 shares each were reserved for allotment on a preferential basis to Indian Financial Institutions and Indian Mutual Funds. Balance issued to the public.
Simultaneously it came out with another issue of 50,00,000 12% unsecured redeemable floating rate bonds in the nature of promisory notes of the face value of 1000 each. Oversubscription upon a further amount of Rs 500 crores (in all Rs 1000 crores) was to be allowed. The face value of each bond would be redeemed at par at the expiry of 10 years from the date of allotment. In the event that the State Bank decides to exercise its option to call up the bonds they would be redeemed at the rate of 5% at the end of 5th year, at 3% at the end of 7th year and 1% at the end of 9th year. It was proposed to issue 1200,00,000 right equity shares of Rs.10 each at a premium of Rs.50 per share in the proportion of 3:5. Also another 120,00,000 equity shares of Rs.10 each were to be issued at a premium of Rs.50 per share to employees on an equitable basis. 250 sick units with the bank were referred to the BIFR including 31 public sector units.
Approved rehabilitation packages being implemented in 85 units and 41 have been recommended to be wound up. The bank continued to be appointed as the operating agency and rehabilitation packages were submitted to BIFR in 48 cases. Equity shares subdivided.
1418,50,000 No. Of Equity Shares of Rs.
10 each issued at a prem. Of Rs 90 per share to the public. Another 1319,78,726 shares of Rs 10 each offered at a prem. Of Rs 90 per share on Rights basis and to employees.
1994 - 358 sick units with the bank were referred to the BIFR including 55 public sector units. Approved rehabilitation packages implemented in 87 units.
Of Shares kept in abeyance were issued. 1995 - 351 sick units with the bank were referred to the BIFR including 66 public sector units. Approved rehabilitation packages implemented in 112 units.
Of shares kept in abeyance were allotted. 1996 - On 3rd October the Bank Issued 261,45,000 GDRs amounting to 5,22,90,000 equity shares. 1 GDR is issued to 2 equity shares.
The issue price of GDR was US $ 14.15 per GDR. 1997 - Shares issued to employees of the bank bearing distinctive numbers 46,26,00,001 to 47,46,00,000 will not be good delivery.
The rights issue was for 12 crore equity shares at a premium of Rs.50 aggregating Rs.720 crore in addition to a further issue of 1.2 crore equity shares of Rs.10 at a premium of Rs.50 aggregating Rs.72 crore for State Bank employees. The price of the rights had been Rs.60 per share. After SBI Capital Markets, Manila-based Asian Development bank will pick up 15 per cent equity stake in the new stock broking subsidiary of State Bank of India to be made operational by mid-1997. The balance 85 per cent will be subscribed to by SBI.
SBI Securities Ltd the 100 per cent stockbroking subsidiary of SBI, has recently received the much-awaited letter of incorporation from the Registrar of Companies. Following this, both SBI and ADB will pick up their respective shares in the new stockbroking firm. SSL will have an equity base of Rs.50 crore. The State Bank of India has tied up with GE Capital to float a venture in Mumbai. State Bank signed the memorandum of understanding with GE Caps in March. State Bank will tie up with either VISA or Mastercard or even both for the franchise network.
GE Caps through this joint venture will be imparting technology, credit card expertise and payment card mechanism. The Reserve bank of India has directed the SBI to set up a $300 million stand-by facility for the Indian oil corporation. State Bank of India (SBI) signed an agreement with the National Securities Depository Ltd (NSDL) for dematerialisation of its shares.
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Besides, SBI has also become an equity stake holder in NSDL to the extent of 4.76%. SBI Commercial and International Bank, has become the country's first public sector bank to introduce optical disk (OD) facilities for data storage. 1998 - State Bank of India will kick-start its credit card business on July 1 by floating two joint ventures with GE Capital. The largest financial intermediary in the country will sign the joint venture agreement with GE Caps in the last week of January. The State Bank of India on Jan 27 kicked off its foray into the payment cards business with a joint venture agreement with US-based financial services giant, General Electric Capital Corporation (GE Capital). State Bank of India (SBI) on June 24 signed an exclusive agreement with the world's largest payment system - Visa International - for payment cards in India. The agreement was signed in Mumbai between the SBI managing director, Mr O P Sethia, and the general manager and executive vice president (South East Asia) of Visa, Mr James G Murray.
1999 - State Bank of India (SBI) has bagged the mandate to syndicate the $ 120 million loan for the National Thermal Power Corporation (NTPC). The State Bank of India (SBI) proposes to take up the life insurance and general insurance business once the sector is opened up. State Bank of India has tied up with its associate banks to market the SBI Card. The SBI has tied up with State Bank of Patiala in Chandigarh and State Bank of Mysore in Bangalore to help market its credit card. SBI proposes to introduce a value-added service for cardholders whereby the credit card can also be used as an ATM card. The State Bank of India will tie up with international investment banker Credit SuisseFirst Boston and three domestic public sector banks to form a gold assaying venture. The State Bank of India (SBI) has decided to take over SBI Home Finance (SBIHF), with its assets and liabilities.
Having the largest stake, SBI has been weighing various options for bailing out the joint venture company which has slipped into huge losses. The State Bank of India (SBI) has signed up with Central Depository Services (I) (CDSIL) for the dematerialisation of its shares. SBI shares have already been admitted as security with National Securities Depository (NSDL). Besides, SBI also has a stake (Rs 10 cr) in the equity of CSDL. According to an agreement entered into with the development bank, State Bank of India (SBI) was to reduce its stake in its investment banking subsidiary to below 50 per cent by March 31. The State Bank of India (SBI) has entered into an agreement with Moody's Investor Service and Icra, under which SBI will pick up Moody's 11 per cent stake in Icra in case the global rating firm wants to get out of its investment in India.
State Bank of India (SBI) has taken the lead in `convenience banking' by becoming the first public sector bank to offer its `savings bank' account holders the benefits of fixed deposits (higher interest rates) and current accounts (overdraft facility). 2000 - The Bank has embarked upon the expansion of its ATM network in the twin cities of Hyderabad and Secunderfabad. The Bank has become the first government owned financial institution to join the rank of companies declaring interim dividend. The Bank has proposed to come out with an issue under private placement of unsecured, non-convertible, subordinated bonds in the nature of promissory notes of Rs 1 lakh each aggregating Rs 600 crores with an option to retain oversubscription of up to Rs 40 crores. The Bank launched the 'Metal (Gold) Loan Scheme' in Coimbatore. This is the third scheme to be introduced by SBI. SBI is also forming a subsidiary - SBI Gold and Precious Metals Pvt.
With 50 per cent equity participation. Vepa Kamesam, Deputy Managing Director, has been appointed as Managing Director with effect from 1st June.
SBI board cleared the setting up of a separate subsidiary for information technology. KC Raut has recently taken charge as general manager at State Bank of India, Chennai. The Bank has become the first public sector bank to offer fixed-rate home loans.
The State Bank of India has tied up with State Bank of Mysore to launch co-branded credit cards as part its strategy to collaborate with associate banks to expand its cardholder base. Central Depository Services (India) Ltd has signed an agreement with State Bank of India as its Depository participant.
Profile Of Sbi Bank
State Bank of India and the Exim Bank of the US have signed amemorandum of understanding, involving $500 million, to support the small and medium-sized ndian companies to purchase US goods and services. Suresh Kumar Mehra, Workmen Directors, ceased to be a member of the Central Board of the bank effect from October 1, due to his retirement at the close of the business on September 30. The Bank has launched an international credit cards for doctors, the frist of its kind in the country, offering facilities including special discounts on medical equipment and personal loans from GE countrywide. The State Bank of India has introduced a new scheme to boost exports. The CRISIL has assigned a triple-A (AAA) rating to the State Bank of India's Rs 3,000 crore bonds programme. The Bank have decided to close down its fully-owned foreign subsidiary - SBI European Bank Ltd., in London. Mukerji, Managing Director, of the bank retired from the bank on 30th of November.
State Bank of India Mutual Fund has launched the Magnum Gilt Fund, dedicated to investing in government securities. 2001 - The Bank has signed an MoU with Cardif S.A. For the bank's life insurance business. The Bank has introduced Voluntary Retirement Scheme for eligible employees, open from the 15th January 2001 to the 31st January 2001. The Bank has incorporated a subsidiary `SBI Life Insurance Company Ltd.,' for doing life insurance business. The Bank will install 10 more Automated Teller Machines in the north-eastern region in addition to the one already commissioned at Guwahati.
State Bank of India launched three more ATMs i n Bangalore. Mr Y Radhakrishnan has been promoted to the post of managing director of State Bank of India. SBI Cards has set up a special insurance cell in Ahmedabad for facilitating the claims of SBI cardholders affected by the tragic earthquake in Gujarat.
SBI has assigned the Delhi-based HCL Com Net to provide it ATM teller inter-connectivity which could involve investments running into several hundred crores. SBI chief general manager Madhav M Mehta, who is currently the operational head in Gujarat, has been transferred to its corporate office in Mumbai as chief general manager (CGM). July 3- Announces the launch of the SBI International card and the SBI Global Card for global travelers in India. SBI International cards and SBI Gold Cards would be accepted at over 20 million Visa outlets worldwide and one lakh outlets in India. State Bank of India has embarked upon an ambitious Rs 800-crore technology upgradation programme.
The bank has appointed KPMG, a consultant in computer technology, to provide inter connectivity networking to the computerised branches and also to the ATMs across the country enabling its customers to transact any kind of business from anywhere State Bank of India was presented the award for JD Power Asia Pacific’s 2001 India Sales Satisfaction Index (SSI) and Consumer Financing Satisfaction (CFS) State Bank of India has added three more ATMs to its network. The new ATMs were installed at SBI's Andheri (west),Goregaon (east),and Borivili (east) branches on September 22 State Bank Of India (SBI) has informed BSE that Shri K.J.Udeshi, ED, RBI has been nominated on the Central Board of the Bank as nominee of RBI in place of Dr.Y.V.Reddy, w.e.f.
September 22, 2001 under Sec.19(f) of SBI Act. State Bank of India has slashed the interest rate on home loans by 0.5 per cent to 12 per cent, effective from September 15. IN A significant move, the State Bank of India has decided to distance itself from its subsidiaries - SBI Capital Markets, SBI Gilts, SBI AMC and State Bank of Credit and Commerce International. They will have the autonomy, independent chairmen and external executives at the senior management level at market-related salaries.
At present, the SBI chairman is the ex-officio chairperson of all the subsidiaries, including the associate banks. The new scheme will be aimed only at the award staff, a category that was included with officers in the January 2001 voluntary retirement scheme. SBI Cards on July 3, announced the launch of the SBI International card and the SBI Global Card for global travelers in India. VRS implemented in which around 21,000 employees, including officers, were permitted to retire - The Bank has crossed another milestone by making a successful foray into insurance. SBI is the only Bank to have been permitted a 74% stake in the insurance business. The Bank's insurance subsidiary, SBI Life Insurance Company, a joint venture with the Bank holding 74% and Cardif S.A., the Joint venture partner, the balance 26%, was incorporated to undertake life insurance and pension business.
Is a wholly-owned subsidiary of BNP-Paribas, which is the largest bank in France and one of the top ten banks in the world. Is the largest bancassurance company in France. The bank's efforts to establish a world -class credit information bureau in India culminated in the successful setting up of the Credit Information Bureau (India) Ltd., a joint venture of the Bank with HDFC Ltd., Dun and Bradstreet Information Services India Pvt. And Trans Union International Inc. 2002 - In order to reduce risk and develop a transparent and active debt market in general and government securities market in particular, the Clearing Corporation of India Ltd. Has been set up in Mumbai with the Bank as the chief promoter.E K Thakur resigns from Directorship of SBI.TCS bags order of Rs 500 crore from SBI.SBI has informed that the following change in Directors.
Shri A C Kalita, Director on the Bank's Central Board ceased to be a Director on the Board wef May 13, 2002 on expiry of his term on May 12, 2002.2.
Number of employees 209,567 (2017) 13.12% (2016) Website Footnotes / references State Bank of India ( SBI) is an Indian multinational, banking and company. It is a with its headquarters in. On 1st April, 2017, the State Bank of India, which was India's largest bank, merged with five of its associate banks (State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore), and with the Bharatiya Mahila Bank. This was the first ever large scale consolidation in the Indian banking industry. With the merger, SBI became one of the 50 largest banks in the world (balance sheet size of ₹33 trillion, 278,000 employees, 420 million customers, and more than 24,000 branches and 59,000 ATMs).
SBI's market share was projected to increase to 22 percent from 17 per cent. It has 198 offices in 37 countries; 301 correspondents in 72 countries. The company is ranked 232nd on the list of the world's biggest corporations as of 2016. The bank descends from the, founded in 1806, via the, making it the oldest commercial bank in the.
The merged into the other two 'presidency banks' in British India, the and the, to form the, which in turn became the State Bank of India in 1955. Owned the Imperial Bank of India in 1955, with (India's Central Bank) 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.
State Bank of India has 20% market share in deposits and loans among Indian commercial banks. Seal of Imperial Bank of India The roots of the State Bank of India lie in the first decade of the 19th century, when the later renamed the, was established on 2 June 1806. The Bank of Bengal was one of three Presidency banks, the other two being the (incorporated on 15 April 1840) and the (incorporated on 1 July 1843). All three Presidency banks were incorporated as and were the result of. These three banks received the exclusive right to issue paper currency till 1861 when, with the Paper Currency Act, the right was taken over by the Government of India. The Presidency banks amalgamated on 27 January 1921, and the re-organised banking entity took as its name.
The Imperial Bank of India remained a joint stock company but without Government participation. Pursuant to the provisions of the State Bank of India Act of 1955, the, which is, acquired a controlling interest in the Imperial Bank of India. On 1 July 1955, the imperial Bank of India became the State Bank of India. In 2008, the acquired the Reserve Bank of India's stake in SBI so as to remove any conflict of interest because the RBI is the country's banking regulatory authority. In 1959, the government passed the State Bank of India (Subsidiary Banks) Act. This made SBI subsidiaries of eight that had belonged to prior to their nationalization and operational takeover between September 1959 and October 1960, which made eight state banks associates of SBI. This une with the first Five Year Plan, which prioritised the development of rural India.
The government integrated these banks into the State Bank of India system to expand its rural outreach. In 1963 SBI merged State Bank of Jaipur (est.
1943) and State Bank of Bikaner (est.1944). SBI has acquired local banks in rescues. The first was the Bank of Bihar (est. 1911), which SBI acquired in 1969, together with its 28 branches.
The next year SBI acquired National Bank of Lahore (est. 1942), which had 24 branches. Five years later, in 1975, SBI acquired Krishnaram Baldeo Bank, which had been established in 1916 in, under the patronage of Maharaja. The bank had been the Dukan Pichadi, a small moneylender, owned by the Maharaja. The new bank's first manager was Jall N. Broacha, a Parsi.
In 1985, SBI acquired the Bank of Cochin in, which had 120 branches. SBI was the acquirer as its affiliate, the, already had an extensive network in Kerala. There has been a proposal to merge all the associate banks into SBI to create a 'mega bank' and streamline the group's operations. The first step towards unification occurred on 13 August 2008 when merged with SBI, reducing the number of associate state banks from seven to six. On 19 June 2009, the SBI board approved the absorption of.
SBI holds 98.3% in. (Individuals who held the shares prior to its takeover by the government hold the balance of 1.7%.) The acquisition of State Bank of Indore added 470 branches to SBI's existing network of branches.
Also, following the acquisition, SBI's total assets will approach ₹10 trillion. The total assets of SBI and the were ₹9,981,190 million as of March 2009. The process of merging of State Bank of Indore was completed by April 2010, and the SBI Indore branches started functioning as SBI branches on 26 August 2010.
On 7 October 2013, became the first woman to be appointed Chairperson of the bank. Bhattacharya received an extension of two years of service to merge into SBI the five remaining associated banks. Operations SBI provides a range of banking products through its network of branches in India and overseas, including products aimed at (NRIs). SBI has 14 regional hubs and 57 Zonal Offices that are located at important cities throughout India. Domestic presence SBI has 18,354 branches in India.
In the financial year 2012–13, its revenue was ₹2.005 trillion (US$31 billion), out of which domestic operations contributed to 95.35% of revenue. Similarly, domestic operations contributed to 88.37% of total profits for the same financial year. Under the of financial inclusion launched by Government in August 2014, SBI held 11,300 camps and opened over 3 million accounts by September, which included 2.1 million accounts in rural areas and 1.57 million accounts in urban areas.
International presence. The Israeli branch of the State Bank of India located in As of 2014–15, the bank had 191 overseas offices spread over 36 countries having the largest presence in foreign markets among Indian banks. SBI operates several foreign subsidiaries or affiliates. In 1989, SBI established an offshore bank: State Bank of India International (Mauritius) Ltd in Mauritius.
SBI International (Mauritius) Ltd amalgamated with The Indian Ocean International Bank, which has been doing retail banking business in Mauritius since 1979 with the new name, SBI (Mauritius) Ltd. Today, SBI (Mauritius) Ltd is having fully integrated 14 branches- 13 Retail Branches covering major cities and town of Mauritius, including Rodrigues, and 1 Global Business Branch at Ebene in Mauritius. Apart from Branch Banking, customers also have the convenience of 24x7 ATM Banking at 18 ATMs across the country. Bank also has a 24x7 robust Internet Banking Channel enabling customers to work from their homes and offices.
State Bank of India (S.B.I.) Branch at Tsim Sha Tsui, Hong Kong In 1982, the bank established a subsidiary, which now has ten branches—nine branches in the state of California and one in Washington, D.C. The 10th branch was opened in Fremont, California on 28 March 2011. The other eight branches in California are located in Los Angeles, Artesia, San Jose, Canoga Park, Fresno, San Diego, Tustin and Bakersfield. In Nigeria, SBI operates as INMB Bank. This bank began in 1981 as the Indo–Nigerian Merchant Bank and received permission in 2002 to commence retail banking. It now has five branches in Nigeria. In Nepal, SBI owns 49% of SBI Nepal (State Bank in Nepal) share with Nepal Government owing the rest and SBI NEPAL has branches throughout the country in each and every city as banking has become the major part of daily life for people.
In Moscow, SBI owns 60% of, with owning the rest. In Indonesia, it owns 76% of PT Bank Indo Monex. The State Bank of India already has a branch in Shanghai and plans to open one in. In Kenya, State Bank of India owns 76% of, which it acquired for US$8 million in October 2005.
In January 2016, SBI opened its first branch in, South Korea following the continuous and significant increase in trade due to the signed between New Delhi and Seoul in 2009. Associate banks. Main Branch of SBI in Mumbai SBI acquired the control of seven associate banks in 1960. They were the seven regional banks of former Indian princely states, all of them which were renamed with the prefix 'State Bank'.
These seven banks were (SBBJ), (SBH), (SBM), (SBP), (SBT), (SBS) and (SBI - Indore). All these banks used the same logo as its parent bank. The plans for making SBI a mega bank with trillion dollar business by merging associate banks started in 2008, and in September the same year, SBS merged with SBI. The very next year, SBI-Indore also merged. In the same year, another subsidiary named was formed. The negotiations for merging of 6 associate banks (, and and ) by acquire their businesses including assets and liabilities with SBI started in 2016. The merger of these six subsidiaries was approved by Union Cabinet on 15 June 2016.
The State Bank of India and all its associate banks use the same blue keyhole logo. The State Bank of India usually has one standard typeface, but also utilises other typefaces. On 15 February 2017, the Union Cabinet approved the merger of five associate banks with SBI. What was overlooked, however, were different pension liability provisions and accounting policies for bad loans, based on regional risks. State Bank of India LHO The, and, and were merged with State Bank of India with effect from 1 April 2017. Non-banking subsidiaries Apart from its five associate banks (merged with SBI since April 1, 2017), SBI also has the following non-banking subsidiaries:. Ltd.
SBI Funds Management Pvt Ltd. SBI Factors & Commercial Services Pvt Ltd.
& Payments Services Pvt. (SBICPSL). SBI DFHI Ltd. SBI General Insurance In March 2001, SBI (with 74% of the total capital), joined with (with 26% of the remaining capital), to form a joint venture life insurance company named SBI Life Insurance company Ltd. In 2004, SBI DFHI (Discount and Finance House of India) was founded with its headquarters in Mumbai. Other SBI service points As of 31 March 2017, SBI group (including associate banks) has 59,291 ATMs.
Since November 2017, SBI also offers an integrated digital banking platform named. Listings and shareholding As on 31 March 2017, Government of India held around 61.23% equity shares in SBI. The, itself state-owned, is the largest non-promoter shareholder in the company with 8.82% shareholding. Shareholders Shareholding Promoters: Government of India 61.23% FIIs/GDRs/OCBs/NRIs 11.17% Banks & Insurance Companies 10.00% Mutual Funds & UTI 8.29% Others 9.31% Total 100.0% The equity shares of SBI are listed on the, where it is a constituent of the index, and the, where it is a constituent of the. Its (GDRs) are listed on the.
Employees. State Bank Learning Centre in Machilipatnam SBI is one of the largest employers in the country with 209,567 employees as on 31 March 2017, out of which there were 23% female employees and 3,179 (1.5%) employees with disabilities. On the same date, SBI had 37,875 Scheduled Castes (18%), 17,069 Scheduled Tribes (8.1%) and 39,709 Other Backward Classes (18.9%) employees. The percentage of Officers, Associates and Sub-staff was 38.6%, 44.3% and 16.9% respectively on the same date. Around 13,000 employees have joined the Bank in FY 2016-17. Each employee contributed a net profit of ₹511,000 (US$8,000) during FY 2016-17. Recent awards and recognition.
SBI was ranked as the top bank in India based on by magazine in a 2014 ranking. SBI was ranked 232nd in the rankings of the world's biggest corporations for the year 2016. SBI was named the 29th most reputed company in the world according to 2009 rankings. SBI was 50th Most Trusted brand in India as per the 2013, an annual study conducted by Trust Research Advisory, a brand analytics company and subsequently, in the, SBI finished as India's 19th Most Trusted Brand in India. See also., an online banking platform run by SBI References.
Retrieved 2017-06-26. Retrieved 2017-06-26. Retrieved 28 June 2017.
SBI website:. Retrieved 22 July 2016. Tata McGraw-Hill Education. Retrieved 4 November 2014. 25 January 2009. Retrieved 20 August 2010. 23 April 2005.
Retrieved 21 December 2010. Business Standard (21 June 2010). Economic Times (26 August 2010).
The Times of India. Retrieved 10 October 2016.
The Economic Times. 11 September 2014. Retrieved 30 September 2014. State Bank of India. Retrieved 14 January 2016. Retrieved 1 June 2017.
Payment History Sbi
8 October 2005. Retrieved 21 December 2010. Retrieved 1 July 2016 – via The Hindu. Iyer, Aparna (17 May 2016). Retrieved 1 July 2016.
16 June 2016. Retrieved 16 June 2016. The Economic Times.
Retrieved 18 February 2017. Pension liability provisions and accounting policies for bad loans. The Indian Express. Retrieved 2017-03-28. Retrieved 11 October 2013.
Retrieved 11 October 2013. Retrieved 11 October 2013. Retrieved 11 October 2013. London Stock Exchange. 11 October 1996.
Retrieved 11 October 2013. 10 April 2014. Retrieved 11 April 2014. Kneale, Klaus (6 May 2009). Retrieved 20 August 2010.
28 January 2011. Retrieved 10 October 2013. Archived from on 24 October 2014. External links Wikimedia Commons has media related to.
Key people (Chairman), Mani Palvesan (Managing Director) Products, Corportate Banking, FOREX, Mobile Banking, Internet Banking, Credit Cards, Insurance Owner (100% owned) Website State Bank of Hyderabad (SBH) was a nationalized bank in India, with headquarters at Gunfoundry, Abids,. It was one of the five associate banks of and was one of the scheduled banks in. It was founded in 1941 as Hyderabad State Bank. From 1956 until 31st March 2017, it had been an Associate Bank of State Bank of India and was merged with SBI on 1st April 2017. It was SBI's largest associate bank.
The Bank's head office was situated at Gunfoundry Area,. SBH had over 2,000 branches and about 18,000 employees. The Bank's business has crossed Rs. 2.4 trillion as on with a net profit of Rs. 8.12 billion. Contents. History The bank was the central bank of the erstwhile state under the name Hyderabad State Bank.
It was established on 8 August 1941 under the Hyderabad State Bank Act, during the reign of the last,. The bank managed the, the currency of Hyderabad state, which covered the present-day, some districts later known as of and of. (At the time a number of the princely states had their own currencies.) The bank also carried out commercial banking. The bank opened its first branch at Gunfoundry, Hyderabad on 5 April 1942. The, which had established a branch in Hyderabad in 1868 and another in in 1906, provided officers and clerical staff in the initial stages, and later provided training for new recruits. The first secretary of Hyderabad State Bank was, son of Sir. After Partition, on 17 September 1948, the Indian Army conducted, which resulted in the annexation of Hyderabad to India.
By 1950, the bank had some 50 branches, including branches in parts of the then Hyderabad State that would later be transferred to other states. In 1953, the bank absorbed, by merger, the Mercantile Bank of Hyderabad, which Raja Pannalal Pitti had founded in 1935. (Some accounts give the year of founding as 1946 and that of merger as 1952). In the same year, the Bank started conducting government and Treasury business as agent for the Reserve Bank of India.
In 1956, the Reserve Bank of India took over the bank as its first subsidiary and renamed it State Bank of Hyderabad. That same year saw the break-up of Hyderabad State., and merged with state., and parts of Osmanabad were merged with state. The remaining districts formed part of Andhra Pradesh state, until the formation in 2015-16 of the state of.
After the trifurcation, the branches of Hyderabad State Bank continued to conduct government transactions in their new states as well. The Subsidiary Banks Act was passed in 1959. On 1 October 1959, SBH and the other banks of the princely states became subsidiaries of SBI. The plans to make SBI one of the top 50 banks in the World affected SBH very much. This plan was introduced in 2016, and on 15 February 2017, the Government of India ratified it.
It finally merged with SBI on 31 March 2017, along with its co-associates, and. See also.
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