About SBI, Full Form, CEO, History, Headquarters, Services, Operations
The full form of SBI is the State Bank of India.
SBI full form in hindi (हिंदी) –
स्टेट बैंक ऑफ इंडिया
About SBI
SBI (State Bank of India) is a public sector bank and financial services statutory body. It is a multinational corporation. SBI is a leading public sector bank in India in terms of assets, profits, deposits, branches, customers, employees, etc.
The government of India owns SBI and is also the largest shareholder with around 62% ownership or equity shares in SBI.
SBI has more than 24000 branches in India and around 200 offices in more than 30 countries worldwide. It has 62,617 ATMs in India. SBI is also one of the largest employers in the world with 245,652 employees as of 31 March 2021.
It is also the oldest commercial bank in Indian. Earlier known as Imperial Bank of India. (Read history/ origin below to know more about this)
Headquarter of SBI
Mumbai, Maharashtra
CEO of SBI (currently 2021)
Dinesh Kumar Khara
He became CEO of SBI on 7 October 2020.
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Dinesh Kumar Khara |
History/Origin of SBI
• The bank was first established as Calcutta bank in 1806.
• After the granting of the royal charter in 1809 the bank was designated as Bank of Bengal.
• In 1840, The Bank of Bombay was established, and In 1843, the Bank of Madras was established.
• In 1921, the three banks: Bank of Bengal, Bank of Bombay, and Bank of Madras combined together and was named Imperial Bank of India.
• As the banking industry progressed, the Imperial Bank of India became the largest corporate company in the country.
• In 1955, the Reserve Bank of India acquired the controlling interest of the Imperial Bank of India.
• On 1 July 1955, the Imperial Bank of India was renamed the State Bank of India.
• In 2007-08, the Government of India bought the entire share of SBI from RBI to reduce the conflict of interests. The RBI is the nation’s central bank which is the country’s banking regulatory authority.
Services provided by the SBI
SBI offers services in various sections
• Agricultural/ Rural banking
• Personal Banking
• Corporate Banking
• SME
• NRI Services
• International Banking
• Corporate Banking & other services.
Operations of SBI
• SBI provides a large range of products and services.
• SBI thinks are worthy of funding loans so it provides loans to companies.
• SBI also buys and sells the gold, besides.
• It also sells and attracts foreign exchange payments.
• It allows depositors from institutions and deposits from the public.
Official Website of SBI
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