Citizendia

State Bank of India
TypePublic (BSE, NSE:SBI) & (LSE: SBID)
FoundedCalcutta, 1806 (as Bank of Calcutta)
Headquarters Corporate Centre,
Madame Cama Road,
Mumbai 400 021 India
Key peopleChairman Om Prakash Bhatt
IndustryBanking
Insurance
Capital Markets and allied industries
ProductsLoans, Credit Cards, Savings, Investment vehicles, SBI Life (Insurance) etc. A public company usually refers to a company that is permitted to offer its registered securities ( Stock, bonds, etc The Bombay Stock Exchange Limited (मुंबई शेयर बाज़ार Mumbaī Śeyar Bājār) (formerly The Stock Exchange Mumbai; popularly called The National Stock Exchange of India Limited or S&P CNX NIFTY ( NSE) is a Mumbai -based Stock exchange. The London Stock Exchange or LSE is a Stock exchange located in London, England. Year 1806 ( MDCCCVI) was a Common year starting on Wednesday (link will display the full calendar of the Gregorian calendar (or a Common Bhikhaiji Rustom Cama ( Gujarati: ભીખાજી રૂસ્તમ કામા Hindi: भीखाजी रूस्तम कामा also Madam Mumbai ( Marathi:,, IPA: formerly Bombay, is the capital of the Indian state of Maharashtra and the financial For other uses of this term see Industry (disambiguation An industry (from Latin industrius, "diligent industrious" A banker or bank is a Financial institution whose primary activity is to act as a payment agent for customers and to borrow and lend money Insurance, in Law and Economics, is a form of Risk management primarily used to hedge against the Risk of a contingent loss The capital market is the Market for securities, where companies and Governments can raise longterm funds In Marketing, a product is anything that can be offered to a Market that might satisfy a want or need A credit card is part of a system of Payments named after the small Plastic card issued to users of the system
Revenueimage:green up.png USD 15. In business revenue or revenues is Income that a company receives from its normal business activities usually from the sale of goods and services The United States dollar ( sign: $; code: USD) is the unit of Currency of the United States; it has also been 77 billion (2007)
Websitewww.statebankofindia.com

State Bank of India (SBI) (LSE: SBID) is a Public Sector Banking Organisation (PSB), in which the Government of India is the biggest shareholder. A website (alternatively web site or Web site, a back-construction from the Proper noun World Wide Web) is a collection of Web pages The London Stock Exchange or LSE is a Stock exchange located in London, England. It is the largest bank in India and is ranked at 495 in Forbes Fortune 500 list. A banker or bank is a Financial institution whose primary activity is to act as a payment agent for customers and to borrow and lend money India, officially the Republic of India (भारत गणराज्य inc-Latn Bhārat Gaṇarājya; see also other Indian languages) is a country Measured by the number of branch offices, SBI is the second largest bank in the world. SBI traces its ancestry back to the Bank of Calcutta, which was established in 1806; this makes SBI the oldest commercial bank in the Indian subcontinent. The Bank of Calcutta was founded on June 2 1806 mainly to fund General Wellesley 's wars against Tipu Sultan and the Marathas It was renamed Bank Year 1806 ( MDCCCVI) was a Common year starting on Wednesday (link will display the full calendar of the Gregorian calendar (or a Common This article deals with the geophysical region in Asia For geopolitical treatments see South Asia. SBI provides various domestic, international and NRI products and services, through its vast network in India and overseas. A non-resident Indian (NRI is an Indian citizen who has migrated to another country a person of Indian origin who is born outside India or a person of With an asset base of $126 billion and its reach, it is a regional banking behemoth.

In recent years the bank has focused on four priorities, first, reducing its huge staff through the Golden handshake scheme known as the Voluntary Retirement Scheme, second, computerizing its operations, third, implementation of Business Process Re-Engineering(BPR), and fourth, trying to change the rude attitude of its staff through a program aptly named 'Parivartan' or 'change'. A golden handshake is a Clause in an executive employment contract that provides the executive with a significant severance package in the case that the executive On the whole, the Bank has been successful in the first three initiatives but has failed in Parivartan.

Contents

History

Offices of the Bank of Bengal
Offices of the Bank of Bengal

These three banks — Bank of Bengal, Bank of Bombay, and Bank of Madras — were known as Presidency banks, were the result of royal charters, and were incorporated as joint stock companies. A Royal Charter is a Charter granted by the Sovereign on the advice of the Privy council to legitimize an incorporated body such as a city company A joint stock company (JSC is a type of business entity it is a type of Corporation or Partnership.

Associate banks

There are seven other associate banks that fall under SBI. They all use the "State Bank of" name followed by the regional headquarters' name. These were originally banks belonging to princely states before the government nationalized them in 1959. Hundreds of Princely states in British India existed prior to the independence of India and Pakistan (including the present Bangladesh The year 1959 ( MCMLIX) was a Common year starting on Thursday (link will display full calendar of the Gregorian calendar. In tune with the first Five Year Plan, emphasizing the development of rural India, the government integrated these banks with the State Bank of India to expand its rural outreach. The State Bank group refers to the seven associates and the parent bank. All the banks use the same logo of a blue keyhole. Currently, the group is merging all the associate banks into SBI, which will create a "mega bank", and one hopes, streamline operations and unlock value.

Foreign Offices

State Bank of India is present in 32 countries, where it has 84 offices serving the international needs of the bank's foreign customers, and in some cases conducts retail operations. State Bank of Bikaner & Jaipur (SBBJ is an associate bank of State Bank of India. State Bank of Hyderabad is an associate bank of State Bank of India and one of the scheduled banks in India. State Bank of Indore is one of the nationalised banks in India and a subsidiary of State Bank of India. State Bank of Mysore is one of the nationalised bank in India. State Bank of Patiala is an associate bank of State Bank of India. State Bank of Saurashtra was a government-owned bank in India. State Bank of Travancore (SBT is a part-SBI owned bank in India. The focus of these offices is India-related business.

Foreign Branches

SBI has branches in these countries:

The Israeli branch
The Israeli branch

Subsidiaries and Joint Ventures

In addition to the foreign branches above, SBI has these wholly owned subsidiaries and joint ventures:

Growth

Mumbai, India location.
Mumbai, India location.

State Bank of India has often acted as guarantor to the Indian Government, most notably during Chandra Shekhar's tenure as Prime Minister of India. Chandra Shekhar Singh (चन्द्रशेखर सिंह (July 1 1927 - July 8 2007 was the 11th Prime Minister of the Republic of India The Prime Minister of India is head of the Council of Ministers, appointed by the President to assist the latter in the administration of the affairs of the executive With 10,000 branches[1] and a further 4000+ associate bank branches, the SBI has extensive coverage. Following its arch-rival ICICI Bank, State Bank of India has electronically networked most of its metropolitan, urban and semi-urban branches under its Core Banking System(CBS), with over 4500 branches being incorporated so far. ICICI Bank ( (formerly Industrial Credit and Investment Corporation of India) is India 's largest private sector bank in market capitalization and second largest The bank has the largest ATM network in the country having more than 5600 ATMs[2]. The State Bank of India has had steady growth over its history, though the Harshad Mehta scam in 1992 marred its image. Harshad Mehta was an Indian Stockbroker and is alleged to have engineered the rise in the BSE stock exchange in the year Year 1992 ( MCMXCII) was a Leap year starting on Wednesday (link will display full 1992 Gregorian calendar)

In recent years, the bank has sought to expand its overseas operations by buying foreign banks. It is the only Indian bank to feature in the top 100 world banks in the Fortune Global 500 rating and various other rankings. The Fortune Global 500 is a ranking of the top 500 Corporations worldwide as measured by Revenue. According to the Forbes 2000 listing it tops all Indian companies. The Forbes Global 2000 is an annual ranking of the top 2000 Public companies in the world by Forbes magazine

Fortune Global 500 Ranking - 2007

SBI debuted in the Fortune Global 500[3] at 498 in 2006. The Fortune Global 500 is a ranking of the top 500 Corporations worldwide as measured by Revenue. In 2007 it moved up to 495. As per fortune 500-2007 following are the data for SBI in $ million.

Revenues 15,119. 4.

Profits 1,407. 3.

Assets 187,547. 1.

Stockholders' Equity 9,786. 2

Group companies

IT Initiatives

According to PM Network (December 2006, Vol. Bancassurance is the selling of Insurance ( assurance) products by a Bank. Information technology ( IT) as defined by the Information Technology Association of America (ITAA is "the study design development implementation support 20, No. 12), State Bank of India launched a project in 2002 to network more than 14,000 domestic and 70 foreign offices and branches. The first and the second phases of the project have already been completed and the third phase is still in progress. As of December 2006, over 10,000 branches have been covered. Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar.

The new infrastructure serves as the bank's backbone, carrying all applications, such as the IP telephone network, ATM network, Internet banking and internal e-mail. Voice-over-Internet protocol ( VoIP, vɔɪp is a protocol optimized for the transmission of voice through the Internet Online banking (or Internet banking) allows customers to conduct financial transactions on a secure website operated by their retail or virtual Bank, Electronic mail, often abbreviated to e-mail, email, or originally eMail, is a Store-and-forward method of writing sending receiving The new infrastructure has enabled the bank to further grow its ATM network with plans to add another 3,000 by the end of 2007 raising the total number to 8,600. Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. As of September 20, 2007 SBI has 7236 ATMs. sbi kanpur

See also

References

  1. ^ a b "SBI joins Chinese bank to touch 10,000 branches", The Economic Times, 2008-03-09. Banking in India originated in the first decade of 18th century The State Bank of India Officers Association (Chennai Circle whose motto is Service before Self is a registered Trade Union of the S 2008 ( MMVIII) is the current year in accordance with the Gregorian calendar, a Leap year that started on Tuesday of the Common Events 590 - Bahram Chobin is crowned as king Barham VI of Persia. Retrieved on 2008-04-23. 2008 ( MMVIII) is the current year in accordance with the Gregorian calendar, a Leap year that started on Tuesday of the Common Events 215 BC - A temple is built on the Capitoline Hill dedicated to Venus Erycina to commemorate the Roman defeat at  
  2. ^ State Bank Of India :: India'S Largest Bank
  3. ^ FORTUNE Global 500 2006: State Bank of India

External links


© 2009 citizendia.org; parts available under the terms of GNU Free Documentation License, from http://en.wikipedia.org
 Dapyx Software network: MP3 Explorer | Ebook Manager | Zenithic