All About State Bank of India- Power Learning

All About State Bank of India- Power Learning

State Bank of India (SBI), is one of the big four banks of India. It is a multinational banking and financial services company based in India.

SBI is a government-owned corporation with its headquarters in Mumbai, Maharashtra and had assets of US $388 billion and 17,000 branches, including 190 foreign offices, as of December 2013. As far as assets are concerned, SBI is the largest banking and financial services company in India. Among leading commercial banks, State Bank of India is a regional banking giant and has 20% market share in deposits and loans. The State Bank of India and all its fiveassociate banks (State Bank of Bikaner and Jaipur, State Bank of Hyderabad,State Bank of Mysore, State Bank of Patiala, State Bank of Travancore) are identified by the same blue keyhole logo. On October 7, 2013, Arundhati Bhattacharya became the first woman to be appointed Chairperson of the bank.

On technology front, on July 1, 2014, the banking industry in India took a giant leap, with the launch of ‘sbiINTOUCH’, a techno-savvy effort by State Bank of India (SBI), India’s largest banking group. Following an awe-inspiring rise in mobile phone usage and internet-savvy customer base in India, this attempt will certainly deliver encouraging banking solutions to every consumer. There are six digital branches nationwide (Mumbai, Delhi, Bengaluru, Chennai and Ahmedabad), which are equipped well with the interactive wall and table displays, remote experts who can be interacted with video-conferencing. To deliver a strong customer-friendly base, there are multi-functional kiosks that will be providing services like instant account opening with personalized debit cards, instant in-principle approvals for home, car or education loans etc.

SBI provides a wide-range of banking products and solutions through its network of branches in India and overseas, which also includes products aimed at non-resident Indians (NRIs). SBI has 14 regional hubs and 57 Zonal Offices that are located at important cities throughout India. As of 31st March, 2013, SBI has 14,816 branches in India, of which 9,851 (66%) were in Rural and Semi-urban areas. In FY 2012-13, the revenue of SBI was around INR 200,560 Crores (US$ 36.9 billion), out of which domestic operations contributed to 95.35% of revenue and domestic operations contributed to 88.37% of total profits for the same financial year. On international front, as of June 2013, SBI had 180 overseas offices spread over 34 countries and has branches of the parent in Moscow, Colombo, Dhaka, Frankfurt, Hong Kong, Tehran, Johannesburg, London, Los Angeles, Male in the Maldives, Muscat, Dubai, New York, Osaka, Sydney, and Tokyo. SBI has also offshore banking units in the Bahamas, Bahrain, and Singapore, and representative offices in Bhutan and Cape Town and has an ADB in Boston, USA.

Associate banks

SBI has five associate banks and all of them use the State Bank of India logo, which is a blue circle. All of them use, the "State Bank of" name, followed by the regional headquarters' name. 

State Bank of Bikaner & Jaipur (SBBJ) - It is a partner bank of State Bank of India and was started in 2012. SBBJ had 1,037 banks, which are primarily placed in the state of Rajasthan. The rest of its branches are placed in the major commercial centers of India. SBBJ was formally established in 1963 when two banks, State Bank of Bikaner (created in 1944) and State Bank of Jaipur (built in 1943) were merged together. These two banks were subsidiaries of the State Bank of India under the State Bank of India (Subsidiary Bank) Act, 1959.

State Bank of Hyderabad (SBH) - It is a partner bank of State Bank of India and was established in 1941 as Hyderabad State Bank.

Ever since 1956, SBH has been a subsidiary of State Bank of India and now is State Bank's biggest partner bank. SBH head office is located at Gunfoundry Area, in Hyderabad, India and has 1,500 bank locations and around 12,800 workers. The holdings of SBH are in abundance of INR 767 billion and have around 1000 branches in Andhra Pradesh alone, making it the third biggest organisation in the state.

State Bank of Mysore (SBM) - Under the support of then Maharaja Krishna Raja Wadiyar IV of Mysore, SBM was created in the year 1913 as the Bank of Mysore Ltd. and was supported by Bharat Ratna Sir M Visvesvaraya.

In year 1953, Mysore Bank was delegated as an organizer and facilitator of Reserve Bank of India to expedite government business and treasury operations and in March 1960, it turned into a subsidiary of the State Bank of India under the State Bank of India (Subsidiary Banks) Act 1959. Currently SBM is an associate under State Bank Group and the State Bank of India holds 92.33 per cent of its shares. SBM has around 976 branches and approximately 10627 workforces. The bank has provincial locations in Bengaluru, Mysore, Mangalore, Mandya, Hassan, Shimoga, Davangere, Bellary, Tumkur, Kolar, Chennai, Coimbatore, Hyderabad, Mumbai and New Delhi. In FY 2013-14, SBM turnover was around $19 billion, recording a profit of about US$ 46 million and has a record of continuous profits since 1913.

State Bank of Patiala (SBP) - It was initially named Patiala State Bank and was established on November 17, 1917. This bank was created by Maharaja Bhupinder Singh, Maharaja of the regal state of Patiala of undivided India.  The capabilities of the bank incorporated the ordinary capacities of business banks and also added a few specific functions required by the royal state of Patiala. After India's freedom in year 1947, the bank was made a completely owned subsidiary of the government of Punjab. On April 1, 1960, SBP was conferred the status of an associate bank of the State Bank Group. Currently, the State Bank of Patiala has a system of 1035 administration outlets, which includes around 1010 branches, in most urban areas of India, however, the greater part of the extensions are located in the Indian states of Punjab, Haryana, Himachal Pradesh, Rajasthan, Madhya Pradesh, Jammu & Kashmir, Delhi and Gujarat.

State Bank of Travancore (SBT) – It is a subsidiary of the State Bank Group and also a major bank of Kerala, India, where it has 777 locations, which accounts to 75 per cent of bank's aggregate system.

According to reports, SBT has a system in excess of 1036 branches which are spread over 16 Indian states. SBT has arrangements to open around 200 extensions to take its spread to 1200. It has opened a “Platinum Point Personal” service office at Banjara Hills, Hyderabad. SBT has additionally opened around 21 Specialized Gold Point Branches to cater to 14 areas in Kerala and one in Kanyakumari locale of Tamil Nadu to encourage quick and simple dispensing of Gold Loans for the customers.

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