State Bank of India holds a unique place among the companies carrying out banking business across the world. It came into existence when the government of India nationalized Imperial Bank of India in the year 1955. With this continuity, State Bank becomes the oldest bank in the Indian subcontinent. Its giant network of over 16000 branches makes it reach the most interior and remote parts of the country where even certain basic infrastructure may not be present. The change over from the Imperial Bank dealing with the very elite to embracing the common man and still continuing to maintain its balance must have been a huge challenge. During the decade of 1960-70, the bank took upon itself the socio-economic responsibilities which the nation faced on achieving independence.

State Bank of India started with formulating a scheme of extending finance to those who owned or wanted to start small scale industrial units. Not only this, the view of making bank loans available to the farmers was unthinkable at the time. It needed a fundamental change not only in bank’s approach to lending but also designing new formats and documents, that too in bilingual and trilingual so that these were comprehensible to even the mostly uneducated farmers. It must have been a mammoth task. The risk element must also have been substantially high. The success it achieved in these two areas probably inspired the bank to take into its fold small businesses too! Having accomplished these adventures with a fair degree of success immediately brought the bank close to the largest section of the Indian population. It truly became “common man’s bank”! But in achieving this phenomenal shift, it goes to the credit of the bank’s planners that they neither neglected its touch with the large scale industries nor did they shy away from enhancing the far more lucrative foreign exchange portfolio. The bank has advanced in this segment to an extent that it is firmly entrenched overseas with 92 branches in 32 countries, 3 offshore banking units and 2 representative offices. This easily makes it eligible as being one having an impressive global presence. The bank has done well on the technology front as well. It has over 8500 ATM outlets some of which are really located at pretty inaccessible places. The bank has implemented Core Banking System linking all its branches through computer network. With the phenomenal growth entailing customer base, it is difficult for anyone to escape a feeling of being in a crowd on entering this bank’s most branches. One can appreciate the pressure the bank faces in catering to the banking needs of one and all. It would be unfair to compare, in this respect, State Bank of India with the breed of “new generation banks” that has come about of late. In the process gigantic expansion, the bank didn’t hesitate to open branches at centers where commercial considerations have consciously been given a go by. How else could one explain out the bank establishing several branches in the remotest villages or places which are still inhabited by people having got little benefit of civilization?

State Bank of India is one of the largest bank sectors in India. It ranks top of all the bank sectors in India. It has been established in the year 1951 as the result of the first five year plan of the independent India. But its action evolution was in the 19th century itself. It is one of the oldest banks in India. Its growth is tremendous. It has about 10000 branches all over the India. The corporate center is in Mumbai. It provides rural banking, NRI services, ATM services, internet banking, corporate banking, mobile banking, international banking, demat services, booking services, etc. It provides various kinds of loans like car loans, educational loans, loan for pensioners, home loans and so on. The loans can be processed well before 7 days from the date of submission. The interest rate for the educational loan is 13.25%. It offers the loan upto Rs.400000. It remains the same for both the students who study in India and abroad. SBI offers loan to buy a new car and even the second hand car. But the interest rates vary accordingly. The home loans of upto Rs.20000000 can be got. The interest rate is just 11.25%, which is very reasonable. SBI has above 8500 ATMs all over India. Its ATM service is splendid. Customers are highly satisfied with its ATM services. It also offers credit cards, insurance, etc. It also supports online banking. It has the 24 hour hot line customer care.It works great. It takes every step to satisfy the customers. Hats off to the greatest bank.

State Bank of India is the oldest commercial bank in India. Which has over 16000 branches around the globe and all are electronically linked known as Core Banking System. The main associate banks of State Bank of India is State bank of Indore State bank of Bikaner & Jaipur State bank of Hyderabad State bank of Mysore State bank of Patiala State bank of Travancore. All the banks under State bank Group have the same logo – ‘A blue key hole’ State Bank group is the largest banking group in Indian sub continental, with a powerful customer backup; also it is the guarantor for Indian government. State Bank of India have more than 9000 ATM centers across India, which is cannot even compare with other bank ATM’s. It is the most reliable and trusted bank for the common people. This has a large range of Value added services, like loans, credit cards, mortgages, mutual funds, insurance etc. Almost all these services are highly secure and aiming the common people. Recently State bank of India started some effective services for the NRI people. Those are NRE Rupee Account Savings Bank Non – Resident Account Resident Foreign Currency Account etc. So altogether State bank of India can be considered as the perfect banking partner of an Indian.