State Bank of India (SBI) is the most extensive state-owned banking and financial services company in India. It offers various banking products and financial services to individuals, public bodies, commercial businesses, corporates, and institutional customers in India and internationally. The bank also offers a range of financial services through its subsidiaries such as life insurance, credit card, factoring, merchant banking, mutual funds, security trading, a primary dealership in the money market, and pension fund management. The Bank's core business is categorized into four business segments, namely Treasury, Corporate/ Wholesale Banking, Retail Banking and Other Banking Business. It has a network of 22,010 branches and 58,415 ATMs. SBI was founded in 1806 and its headquarters is located in Mumbai, India.
The bank provides offers such as personal banking services, including current accounts, savings accounts, recurring deposits and term deposits ; Loan services such as auto, education, gold, home, and personal loans, as well as loans against assets and securities; and wealth management, mobile and Net banking, demat, safe deposit locker, money transfer, pension policy, ATM, public provident fund, foreign inward remittance, and mobile wallet services, as well as cards and inflation-indexed national savings securities cumulative bonds.
The company also gives corporate banking assistance comprising corporate accounts, working capital and project finance, structured finance, dealer and channel financing, term loans, deferred payment guarantees, corporate loans, equipment leasing, construction equipment loans, financing Indian firms abroad subsidiaries or JVs, and cash management, loan syndication. Also, it offers NRI services, like savings accounts and deposits, remittances, investments, and loans; supply chain finance, and deposits and transaction banking assistance for SME customers; agricultural banking and microcredit to agriculturists and farmers; and international banking services. Moreover, the company also offers treasury, broking, MICR services, and bill payment; and credit cards, life and non-life insurance, security trading, pension fund management, mutual funds, merchant banking, trustee business, factoring, as well as primary dealership services in the banking market.
About Company Information:
The Bank follows their ancestry to British India, through the Imperial Bank of India, to the year of establishment in 1806 of the Bank of Calcutta, making them the oldest commercial bank in the Indian Sub-continent. In the year of 1955, the Government of India nationalized the Imperial Bank of India, with the Reserve Bank of India (RBI) taking a 60% stake, and its name was changed to State Bank of India. The bank started the SBI Life Insurance Company in the year of 2001.
They are the only Bank that has been permitted a 74% stake in the insurance business. The Bank has an insurance subsidiary called SBI Life Insurance Company which is a joint venture with Cardif S.A.The Bank launched new products and services such as web-based remittance, online-trading, comprehensive cash management, and instant fund transfer. During the year 2007-08, the Bank established 965 branches all over the country.
They introduced a new state-of-the-art Dealing Room with online connectivity to all active forex Branches at the Corporate Centre in Mumbai. In October 2008, SBI signed an MoU in agreement with State General Reserve Fund (SGRF) of Oman, for a common purpose private equity fund. On August 13, 2008, State Bank of Saurashtra (SBS), a wholly owned subsidiary of the Bank, merged with the Bank.
On July 1, 2010, the Bank initiated their Green Channel Counter at select branches across the country. In General Insurance business, SBI launched limited operations for the Corporate and Mid Corporate customers based at Mumbai in April 2010, and it was extended to six other significant locations in July 2010. In the Retail division, the Bank began their Long Term Home Insurance business at Mumbai in October 2010, which was progressively extended to cover 56 RACPCs and RASMECCs.
In 2014, State Bank of India launched a new self-service banking solution providing online support for customers with support from Accenture. It also unveiled 6 digital branches. In partnership with National Payment Corporation of India (NPCI), the Bank launched a RuPay Platinum debit card in 2015.
The bank also introduced an online facility for overdraft against FDs. SBI partners with Amazon and also it entered into an MoU with PayPal, an American online money transfer services provider firm, for promoting cross-border transactions. The bank also launched SBI e-forex.
The State Bank of India signed a shareholders' agreement with Reliance Industries Limited (RIL) for setting up Payments Bank on 30 June 2016. SBI declared that the Committee of Directors (duly authorized by the Board) approved the bank to raise to Rs 12000 crore by way of issue of Basel III compliant Tier II bonds, at par, via private placement. On 16 February 2018, the Committee of Directors for Capital Raising of State Bank of India granted its approval for preferential allotment of 29.25 crore equity shares at Rs 300.82 per share. This includes a premium of Rs 299.82 per share) to Government of India (GoI) aggregating Rs 8800 crore.
State Bank Of India, Listings:
The State Bank Of India, Equity Shares/stocks are listed on the National Stock Exchange of India Limited (the "NSE") and BSE Limited (the "BSE", together with the NSE, the "Stock Exchanges") and also in London Stock Exchange.
The Key Dates to be noted for SBI Bank is:
March - The Year Ending Month
June - The AGM Date (Month)
June - Book Closure Date (Month)
State Bank of India Indices:
As of June 2019 - State Bank Of India, Management Team:
Ajay Kumar Vyas - Chief General Manager
Alok Kumar Choudhary - Chief General Manager
Anil Kishora - Chief General Manager
Anshula Kant - Managing Director
Arijit Basu - Managing Director
B Ramesh Babu - Chief General Manager
B Venugopal - Shareholder Director
Basant Seth - Shareholder Director
Bhaskar Pramanik - Shareholder Director
Chandan Sinha - Nominee Director
Dinesh Kumar Khara - Managing Director
Dukhabandhu Rath - Chief General Manager
Gautam Sengupta - Chief General Manager
Girish K Ahuja - Nominee Director
J Swaminathan - Chief General Manager
K T Ajit - Chief General Manager
Mani Palvesan - Chief General Manager
P K Gupta - Managing Director
P V S L N Murty - Chief General Manager
Partha Pratim Sengupta - Chief General Manager
Prashant Kumar - Chief Financial Officer
Praveena Kala - Chief General Manager
Purnima Gupta - Nominee Director
Pushpendra Rai - Nominee Director
Rajiv Kumar - Nominee Director
S M Farooque Shahab - Chief General Manager
S Venkataraman - Chief General Manager
Sandeep Tewari - Chief General Manager
Sanjay Abhyankar - Vice President & Co. Secretary
Sanjay Abhyankar - Secretary
Sanjiv Malhotra - Shareholder Director
Vijuy Ronjan - Chief General Manager
How State Bank of India Ltd, is categorised as Banks Sector, and Finance Industry :
The Financial Industry is a section that leads the world in terms of equity market capitalization and earnings. The companies that are in the economic enterprise focus mainly on managing money, as their revenue is generated mostly by the sectors from mortgage and loans that gain value as interest rates rise. Also, this industry's economy is made up of institutions and firms that provide financial services to wholesale and retail customers.
The main sectors that are into the Financial industry are,
Accounting and Bookkeeping.
Financial Markets and Planning.
Banking and General Financial Services.
Mortgage and Financial Broking.
Insurance and Superannuation.
Specialised Financial Services.
SBI Ltd comes under the Banking sector. The banking sector is one of the active areas in India, which makes a significant portion of the growth of a country’s GDP. The banking sector in India is of great importance in Asia and also throughout the World because of its steady performance in the market.
SBI Bank Ltd, Competitors and Sector Peers:
Bank of Maharashtra - BANK5
Central Bank of India - CENTRB
Corporation Bank - CORBAN
Indian Overseas Bank - INDOVE
Oriental Bank of Commerce - ORIBAN
Punjab & Sind Bank - PUNSI
Punjab National Bank - PUNNAT
State Bank Of Bikaner and Jaipur [Merged] - STABAN
State Bank Of Mysore - STATE3
State Bank of Travancore [Merged] - STATE6
Union Bank of India - UNIBAN
United Bank of India - UNITBA
State Bank of India, Contact Information:
16 Madame Cama Road Mumbai, 400 021 India