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The Imperial Bank of India (IBI) was one of the oldest and the largest commercial banks in India, and was subsequently renamed and nationalised as the State Bank of India in 1955. Initially, as per its royal charter , it acted as the central bank for India prior to the formation of the Reserve Bank of India (RBI) in 1935.
Jan 27, 2014 · Learn how the Imperial Bank of India, which became the State Bank of India after independence, was formed in 1921 by the amalgamation of three Presidency Banks. Explore the milestones and developments of the SBI, the largest banking and financial services firm in India.
On 1 July 1955, the Imperial Bank of India became the State Bank of India. In 2008, the Government of India acquired the Reserve Bank of India's stake in SBI to remove any conflict of interest because the RBI is the country's banking regulatory authority.
Feb 17, 2024 · The Imperial Bank of India (IBI) was one of the oldest and the largest commercial bank in India, and was subsequently renamed and nationalised as the State Bank of India in 1955. Initially, as per its royal charter, it acted as the central bank for India prior to the formation of the Reserve Bank of.
Sep 17, 2022 · Learn how the Imperial Bank of India, created in 1921 by merging three presidency banks, became the State Bank of India in 1955 after nationalisation by the Indian government. Explore the origins, challenges and achievements of India's largest bank.
Jan 27, 2018 · Learn how the Imperial Bank of India, now State Bank of India, was formed in 1921 by merging three presidency banks. Read about its role as a fiscal agent, a commercial bank and a subsidiary of SBI.
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Address: State Bank Bhavan, Madame Cama R. Mumbai. 400 021. India. Telephone: 91 22 2202 2426. Fax: 91 22 2285 2708. http://www.statebankofindia.com. Statistics: Public Company (60% Government-Owned) Incorporated: 1921 as the Imperial Bank of India. Employees: 220,000. Total Assets: $104.81 billion (2003)
