State Bank of India
About State Bank of India
The largest bank in India, tracing its origins to the Bank of Calcutta founded in 1806. The bank became the Bank of Bengal, then merged with banks in Bombay and Madras to form the Imperial Bank of India in 1921. After independence, the State Bank of India was created by nationalizing the Imperial Bank in 1955. SBI has over 22,000 branches and 500 million customers, the largest branch network in India. The bank serves rural areas and government programs including direct benefit transfers. SBI pioneered microfinance and mobile banking for rural populations. The bank holds about a quarter of all deposits in India.
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