State Bank of India

State Bank of India (SBI) is an Indian multinational public sector bank and statutory organization for financial services located in Mumbai, Maharashtra. SBI is the world's 49th largest bank by total assets and is rated 221st on the Fortune Global 500 list of the world's largest firms for 2020, the only Indian bank on the list. It is India's most prominent public sector bank, with a 23% market share by assets and 25% percent of the overall loan and deposit market. With approximately 250,000 employees, it is also India's fifth-largest employer. State Bank of India became the third lender (after HDFC Bank and ICICI Bank) and the seventh Indian corporation to break the $5 trillion milestone on Indian stock exchanges for the first time on September 14, 2022.

The bank is descended from the Bank of Calcutta, created in 1806 through the Imperial Bank of India, making it the Indian subcontinent's oldest commercial bank. The Bank of Madras combined with British India's other two presidential banks, the Bank of Calcutta and the Bank of Bombay, to form the Imperial Bank of India, which later became the State Bank of India in 1955. Throughout its 200-year history, the bank has been founded by merging and acquiring more than twenty banks. In 1955, the Government of India assumed control of the Imperial Bank of India. The Reserve Bank of India (India's central bank) acquired a 60% interest and renamed it State Bank of India.

To facilitate and encourage start-ups in the country, the State Bank of India (SBI) announced the opening of its first "state-of-the-art" dedicated branch for start-ups in Bengaluru on August 16, 2022.

Founded: 1955

Headquarters: Nariman Point, Mumbai, Maharashtra

Website: https://bank.sbi