About SBI
State Bank of India (SBI) is a multinational Indian public sector bank headquartered in Mumbai, Maharashtra. It is the world’s fourth-largest bank with 221 in the Fortune Global 500 list of the largest corporations in 2020 and the only Indian bank to be on this list. It descends from the bank of Calcutta founded in 1806 as the Imperial Bank of India and became the oldest commercial bank on the Indian subcontinent. It is also the fifth-largest employer in India with over 250,000 employees. SBI is a public sector bank and the second-largest bank in India with 23% share of the market in asset-taking assets and 25% share in the total deposit market. The Bank of Madras merged with the other two presidential banks, the British India Bank of British India and the Bank of Calcutta and the Bank of Bombay, to form the Imperial Bank of India, which in 1955 became the State Bank of India. The Indian government took control of the bank in 1955, when India’s central bank, the Reserve Bank of India, acquired a 60% stake and renamed it State Bank of India’s first bank.