Introduction to SBI:

The foundation of the state bank of India is beginning in the first decade of the nineteenth century with the formation of the Bank of Calcutta in Calcutta on 1806, on 2nd June. After three years Bank of Calcutta is re-designed as Bank of Bengal on 2nd January of 1809. By the government of Bengal, among the Bank of British India sponsors, this bank was the first joint-stock bank. Bank of Bengal has increased its branches in the states such as Bank of Bombay on 15th April of 1840 and Bank of Madras on 1st July of 1843. These three Banks stands in the top most position in the Indian modern banking system. These banks are in top position until they merged with the Imperial Bank of India on 27th January 1921.

Mainly in Anglo-Indian creations, the three presidency banks appeared to be survival therefore the local requirements of European commerce or  the compulsion of grand finance  were  not forced from outside in random manner to  modernize Indian economy.  However their evolution was modified with selected ideas from identical developments in the England and Europe as well as by the structural changes which are influenced.  These structural changes will be in both the environments of local trading as well as those in that of Indian economy relations to the Europe economy and the frame work of the global economic. 

In the country the oldest Bank is State Bank of India and a premier in the form of balance sheet size, profits, market capitalization and number of branches is going today by a significant phase of transformation and change- Behemoth it is public sector which is two hundred years old is now shifting out of its public sector legacy as well as progressing with an ability to give Foreign and private banks a run for their money.

With the strategic tie ups, banks are seeking to enter in to new business which are like General insurance, Pension funds, Private Equity, Custodial Services, point of sale, Mobile banking, Merchant Acquisition, Structured products,  Advisory services etc-  among these each and every program will have a enormous potential growth.

The bank is forging ahead to expand banks in the rural regions, with the cutting edge technology and modern new banking models. Banks are looking to cover around 100,000 villages in coming next two years. Banks are also concentrating at the top of the market, upon the capability of the whole sale banking to give array of products and services. Banks are entering into the derivative instruments and structured products and by the way it is consolidating operations of its global treasury. Now days, infrastructure is provided more by banks as well as external commercial borrowings are largely done by the banks in the country.

Front and back end process which is outdated is continuously changing by banks to the friendly process of the modern customer to develop the total customer experience.  Associated banks are networked already, now the largest banking network is offer by it to the Indian customer. Through ATMs banks are providing total or complete payments solution to its clients, bank provides nearly 8500 ATMs and additional electronic channels like debit cards, mobile banking and internet banking etc.

With 54 learning centers and four national level Apex Training Colleges, banks are continuously recruiting skilled persons has employees. These centers or colleges are spread all over the country. Bankers from the banks will attend some of the training programs in the other countries.

Banks are looking to get opportunities to its growth all over India and also internationally. Across the globe, in 32 countries 82 foreign offices are there at present. In India it contains six subsidiaries – SBICAP securities, SBI Life, SBI Capital Markets, SBI DFHI, SBI Cards and SBI Factors. These six subsidiaries form formidable group in the scenario of Indian banking. For raising its capital process is going on as well as combining its various holdings.

Banks are trying to change its old mindset, attitudes and together to take all employees on this transformation and exciting road. Internal communication program which is recently conducted which is named as “Parivartan” the bank has been covered 3300 two day work shop across the country and in a period of 100 days it covered over 130,000 employees with 400 trainers, to drive home the inclusiveness and message of change. The imagination of the employees has been fired by work shop with some other banks in India and also in other organization of public sector looking to follow the program.

In State Bank of India history the main turning point is the launch of Five Year Plan of independent India in 1951. Towards serving Indian economy, the plan aimed is in general and particular in the rural sector of the country.  By the Commercial Bank of the country including Imperial bank of India, plan is kept pending and the services are limited to the urban sector. In addition, banks were not at all equipped to respond to the growing requirements of the economic stimulation in the country which is taking shape in the rural regions. Consequently, as a whole to serve the economy and particular in rural sector, the All India Rural Credit Survey Committee suggested the formation of state-partnered and state-sponsored bank.