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SBI Bank Shock To Customers | State Bank Of India | Telugu News | Banking News | Alo TV Channel

987 views · Published 1 December 2018 · 1:29 · Indexed 22 September 2026

Channel: Alo TV Channel · 2018 · Entertainment

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SBI Bank Shock To Customers, State Bank Of India, Telugu News, Banking News, Alo TV Channel


The State Bank of India (SBI) is an Indian multinational, public sector banking and financial services company. It is a government-owned corporation headquartered in Mumbai, Maharashtra. The company is ranked 216th on the Fortune Global 500 list of the world's biggest corporations as of 2017. It is the largest bank in India with a 23% market share in assets, besides a share of one-fourth of the total loan and deposits market.The bank descends from the Bank of Calcutta, founded in 1806, via the Imperial Bank of India, making it the oldest commercial bank in the Indian subcontinent. 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 in 1955.The Government of India took control of the Imperial Bank of India in 1955, with Reserve Bank of India (India's central bank) taking a 60% stake, renaming it the State Bank of India. In 2008, the government took over the stake held by the Reserve Bank of India.

Non-banking subsidiaries
Apart from five of its associate banks (merged with SBI since April 1, 2017), SBI also has the following non-banking subsidiaries:

SBI Capital Markets Ltd
SBI Funds Management Pvt Ltd
SBI Factors & Commercial Services Pvt Ltd
SBI Cards & Payments Services Pvt. Ltd. (SBICPSL)
SBI DFHI Ltd
SBI Life Insurance Company Limited
SBI General Insurance
In March 2001, SBI (with 74% of the total capital), joined with BNP Paribas (with 26% of the remaining capital), to form a joint venture life insurance company named SBI Life Insurance company Ltd. In 2004, SBI DFHI (Discount and Finance House of India) was founded with its headquarters in Mumbai.

Other SBI service points
As of 31 March 2017, SBI group (including associate banks) has 59,291 ATMs.

Since November 2017, SBI also offers an integrated digital banking platform named YONO.

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