State Bank of India is an Indian multinational public-sector bank and financial services institution headquartered in Mumbai, the largest bank in India by both assets and combined loan and deposit market share. It descends from the Bank of Calcutta, founded in 1806, through the Imperial Bank of India, and took its present name on 1 July 1955 after more than twenty mergers and acquisitions over its two-hundred-year history.
Facts
Company Type Founded Year Founded YearRenamed from the Imperial Bank of India to State Bank of India on this date under the State Bank of India Act, 1955; traces continuous ancestry to the Bank of Calcutta, founded 1806. Headquarters Company Type
Company Type (category) Company Type (category) FAQs
Which banks were the presidency banks that preceded State Bank of India?
The Bank of Bengal, the Bank of Bombay and the Bank of Madras.
They were the Bank of Bengal, the Bank of Bombay and the Bank of Madras. The Bank of Calcutta, founded in 1806, became the Bank of Bengal in 1809. A sister bank, the Bank of Bombay, followed in 1840 and the Bank of Madras in 1843, and together the three became known as the presidency banks, which had the right to issue currency in their regions. The Presidency Banks Act of 1861 took away their currency issuing privileges while offering incentives for rapid expansion.
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A major financial services company; classified in the atlas financial-services-industry.
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Source Wikipedia, State Bank of IndiaLead paragraph of the cited Wikipedia articletier 2Quote, Lead paragraph of the cited Wikipedia article
The State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body, headquartered in Mumbai.
Sources
1. Wikipedia, State Bank of India
Wikipedialead section, paragraph 1
State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body, headquartered in Mumbai.
Article text
The Bank of Madras merged into the other two presidency banks in British India, the Bank of Calcutta and the Bank of Bombay, to form the Imperial Bank of India, which in turn became the State Bank of India on 01-July-1955.
View the Source 2. Wikidata: State Bank of India
- Wikidata Q1340361, class allow-list match (w-wdresolver-0926)
- Wikidata Q1340361 P571 (w-bbfill-business4-0926 knownqid fetch)
- Wikidata Q1340361 P31=Q270791 (state-owned) (w-bbfill-business4-0926 knownqid fetch)
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