State Bank of India is an Indian multinational, public sector banking and financial services company. It is a government-owned corporation headquartered in Mumbai, Maharashtra.

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About State Bank of India

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.[7] 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.

The business of the banks was initially confined to discounting of bills of exchange or other negotiable private securities, keeping cash accounts and receiving deposits and issuing and circulating cash notes. Loans were restricted to Rs.one lakh and the period of accommodation confined to three months only. The security for such loans was public securities, commonly called Company's Paper, bullion, treasure, plate, jewels, or goods 'not of a perishable nature' and no interest could be charged beyond a rate of twelve per cent. Loans against goods like opium, indigo, salt woollens, cotton, cotton piece goods, mule twist and silk goods were also granted but such finance by way of cash credits gained momentum only from the third decade of the nineteenth century.

Vision of the Bank

Be the Bank of Choice for A Transforming India

SBI Branches

Bank is having branches in India in the following States/UTs :

  • Andaman And Nicobar Island
  • Andhra Pradesh
  • Arunachal Pradesh
  • Assam
  • Bihar
  • Chandigarh
  • Chhattisgarh
  • Dadra And Nagar Haveli
  • Daman And Diu
  • Delhi
  • Kerala
  • Madhya Pradesh
  • Maharashtra
  • Manipur
  • Meghalaya
  • Mizoram
  • Nagaland
  • Odisha
  • Puducherry
  • Punjab
  • Rajasthan
  • Sikkim
  • Tamil Nadu
  • Telangana
  • Goa
  • Gujarat
  • Haryana
  • Himachal Pradesh
  • Jammu And Kashmir
  • Jharkhand
  • Karnataka
  • Uttar Pradesh
  • Uttarakhand
  • West Bengal
  • Tripura

Services

Services provided by SBI Bank are as follows :

1.Internet Banking

Sbi, the Internet banking portal of our bank, enables its retail banking customers to operate their accounts from anywhere anytime, removing the restrictions imposed by geography and time. It's a platform that enables the customers to carry out their banking activities from their desktop, aided by the power and convenience of the Internet.

2.ATM Services

State Bank offers you the convenience of over 50,000+ ATMs in India, the largest network in the country and continuing to expand fast! This means that you can transact free of cost at the ATMs of State Bank Group (This includes the ATMs of State Bank of India as well as the Associate Banks - namely, State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, and State Bank of Travancore) and wholly owned subsidiary viz. SBI Commercial and International Bank Ltd., using the State Bank ATM-cum-Debit (Cash Plus) card

3.Cash Deposit Machines

The Cash Deposit Machine, better known as CDM is an ATM like machine that allows you to deposit cash directly into your account using the ATM cum debit card. You can use this machine to instantly credit your account without visiting the branch.

Initiatives

The initiatives taken by SBI are :

1.SBI Digital Village

SBI Digital Village is a radical initiative by SBI to create a cashless ecosystem in each village and provide access to Government supported digital initiatives in education, health, social security and agri-schemes, subsidies and benefits.

Through Digital Village, bank can connect people by providing Green channel banking, ATM Cards, Net banking, Mobile banking, Wallet banking, Self-service pass book printing machines, Cash Deposit Machines, POS and Micro ATM at the village locations. It is considered to be the part of Corporate Social Responsibility (CSR) undertakings aiming to improve the standard of people particularly in villages.

2.SBI Mingle

State Bank Mingle is the social banking application of SBI which enables you to perform basic banking activities through SBI official Facebook page. To get started, users need to access SBI Mingle from the Official SBI Facebook Page. Once the access to the page is established, users need to register and then Sign in, in that order.SBI Mingle gives convenience of banking on Facebook and Twitter through an APP-based interface. Customers can do all transactions anytime, anywhere just by logging in to their social media account.

3.State Bank Buddy

State Bank Buddy is a mobile wallet application that allows to send or ask money from any of your contacts even if they do not have an SBI account. SBI Buddy is the best in market-wallet with a unique blend of payment and banking service. State Bank Buddy has comprehensive collaborations with merchant partners for unparalleled shopping and payment experience.

4.SBI Digi Voucher

SBI Digi Voucher is a green initiative of SBI that gives you online access to various challans, transactions slips and forms through an APP. It saves valuable time by allowing you to pre-complete transaction forms online to get direct access to the teller counter.

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