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State Bank of India ( SBI) is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra. SBI is the 45th largest bank in the world by total assets and ranked 221st in the Fortune Global 500 list of the world's biggest corporations of 2020, being the only Indian bank on the list. [11]
There are 49 scheduled urban co-operative banks in India. Abhyudaya Co-operative Bank Ltd. Apna Sahakari Bank Ltd. [69] Ahmedabad Mercantile Co-Op Bank Ltd. [70] Amanath Co-operative Bank Ltd. [71] Andhra Pradesh Mahesh Co-Op Urban Bank Ltd. Bassein Catholic Co-operative Bank Ltd. [72] Bharat Co-operative Bank (Mumbai) Ltd.
Merged with the State Bank of India on 1 April 2017: Bangalore: 14: State Bank of Patiala: 1917: 2017: Merged with the State Bank of India on 1 April 2017: Patiala: 15: State Bank of Indore: 1920: 2017: Merged with the State Bank of India on 1 April 2017: Indore: 16: Imperial Bank of India: 1921: 1955: Renamed as the State Bank of India in 1955 ...
A 60% stake was taken by the Reserve Bank of India and the new bank was named State Bank of India. The seven other state banks became subsidiaries of the new bank in 1959 when the State Bank of India (Subsidiary Banks) Act, 1959 was passed by the Union government.
By 2013 the Indian Banking Industry employed 1,175,149 employees and had a total of 109,811 branches in India and 171 branches abroad and manages an aggregate deposit of ₹67,504.54 billion (US$850 billion or €830 billion) and bank credit of ₹52,604.59 billion (US$660 billion or €640 billion).
As of 28 July 2020, Yes Bank is an associate of State Bank of India which has a 30% stake in the company. On 21 February 2023, Yes Bank issued 2,13,650 equity shares to its employees under the company ESOP plan. The bank plans to open 150 branches in fiscal 2024, with 110 branches open as of March 2024.
State Bank of Bikaner & Jaipur (SBBJ) was a major Indian bank. It was a subsidiary of State Bank of India , with which it was merged on 31 March 2017. As of 2015, SBBJ had 1,360 branches, mostly located in the state of Rajasthan , India .
The State Bank of Hyderabad was merged with State Bank of India on 1 April 2017. SBH had over 2,000 branches and about 18,000 employees. The bank's business had crossed Rs. 2.4 trillion as on 31.12.2015 with a net profit of Rs. 8.12 billion.