The State Bank of India (SBI) is one of the leading financial bank in India and 10th most reputed bank in the world.
The first Indian subcontinent bank is bank of Calcutta established in 1806 which later known as Imperial Bank of India. The government of India nationalized the Imperial Bank of India as State Bank of India in 1 July 1955, taking 60% stake with Reserve Bank of India. The State Bank of India is also India's largest commercial bank. The bank has been determined sincerely to hold on to the efforts of providing greatest customer satisfaction to the best possible scope. The SBI provides wide range of products through its big network of branches in India and 132 branches in 32 countries of all over the world. The products are Personal Banking, NRI Services, Agriculture, International, Corporate, SME, Domestic Treasury and Credit Card.
There are over 16,000 branches of SBI with largest banking network in India. With assets based of $352 billion and $285 billion in deposits, it is a regional banking sector. It has also a market share between Indian commercial banks of about 20% in deposits and advances and SBI accounts for almost one-fifth of the nation's loans. The subsidiary bank of SBI is State Bank of Indore, State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore.
The bank also provide services under retail banking as Term Deposits, Recurring Deposits, Housing Loan, Educational Loan, Personal Loan, For Pensioners, Against Mortgage of Property, Against Shares & Debentures, Plus Scheme, Medi-Plus Scheme, Rates of Interest.
SBI has tried to cut over-staffing by computerizing operations and "golden handshake" plans that led to escape of its best and brightest managers. These managers obtained the retirement stipends and then departed on to become senior managers in new private sector banks. SBI also created unique method to its customer for holiday. Tourist can find floating SBI ATM on a boat in a back waters of Kerala.
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