State Bank of India (SBI) – Important Points ================================== All about State Bank of India: State Bank of India is the largest Indian banking and financial services company by yearly turnover and total assets. The headquarters of SBI is in Mumbai, India. SBI is a State owned Bank. Presidency Banks during British Raj: Bank of Bengal was established in 1806 in Kolkata. It was the first presidency bank of India. Two other presidency bank was established, Bank of Bombay in 1840 and Bank of Madras in 1843. These three banks were private shareholders’ bank. East India Company also contributed to the share capital of each of them. The bulk of the share capital had come from private shareholders mostly Europeans. These banks were given monopoly of Govt. Banking- After 1823 These three banks received the exclusive right to issue paper currency in 1861 with the Paper Currency Act Presidency Banks were amalgamated into the Imperial Bank of India (IBI) which was established in 27 January 1921
Posted on: Fri, 14 Nov 2014 12:45:00 +0000
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