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State Bank of India

State Bank of India

State Bank of India is an indian bank founded in 1806.

State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra. SBI is the 43rd largest bank in the world 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.[6] It is a public sector bank and the largest bank in India with a 23% market share by assets and a 25% share of the total loan and deposits market.[7] It is also the fifth largest employer in India with nearly 250,000 employees.[8][9][10]

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.[11] Overall the bank has been formed from the merger and acquisition of nearly twenty banks over the course of its 200 year history.[12][13] 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 State Bank of India.

Timeline

August 16, 2021
The State Bank of India (SBI) launches Platinum Deposits Scheme available through SBI Branch, INB and YONO Channels.
June 24, 2021
State Bank of India launches a new business loan scheme 'Aarogyam Loan' for the healthcare sector to extend loan support in view of the novel coronavirus pandemic.
June 11, 2021
SBI launches kavach personal loan for Covid patients.
December 30, 2019
State Bank of India announces a reduction in its external benchmark based rate (EBR) by 25 bps to 7.80% per annum, from 8.05% per annum.

The revision will come into effect from January 1, 2020. With this reduction, interest rate for existing home loan customers as well as MSME borrowers who have availed loans linked to external benchmark based rate would come down by 25 basis points.

December 16, 2019
State Bank of India signed a loan agreement with KfW, the German development bank, for $277 million dollars (about Rs 1,958 crore) for establishing an energy-efficient housing programme in India.

Patents

Further reading

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Documentaries, videos and podcasts

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News

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Zee News
September 26, 2021
Zee News
https: onlineapply.sbi.co.in personal-banking home-loan?se=SBI-Microsit.... Yono SBI app can be used to apply for a home loan. To begin, go to your YONO SBI app and log in. Click on the menu on the top extreme left of the main page, then loans, then Home Loan.
Investing.com
May 24, 2021
Investing.com India
The Financial News section features stock market news in addition to stories about bonds, forex, commodities and economic releases.

References

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