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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. Origin.
- 27 January 1921; 102 years ago
27. Jan. 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.
- Riddhi Tyagi
27. Jan. 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.
27. Jan. 2021 · Die Imperial Bank of India (IBI) öffnete ihre Türen am 27. Januar 1921. Entstanden ist sie durch die Reorganisation der drei Präsidialbanken des kolonialen Indiens. Denn damals verschmolzen gemäß der vom indischen Legislativrat verabschiedeten Gesetzgebung die Bank of Bengal, die Bank of Bombay und die Bank of Madras zu einer einzigen Bank.
The Government of India took control of the Imperial Bank of India in 1955, with Reserve Bank of India (India's central bank) taking a 60% stake, renaming it State Bank of India. On 16 August 2022, in an attempt to facilitate and support India's start-ups , SBI announced the launch of its first "state-of-the-art" dedicated branch for start-ups ...
- 2,36,116 (SEPT 2023)
- ₹473,378.14 crore (US$59 billion) (2023)
17. Sept. 2022 · The origin of India’s largest bank, the State Bank of India, can be traced back to the 27th of January, 1921. Formerly known as the Imperial Bank of India, it was created because of a merger between the three presidency banks, Bank of Bengal, Bank of Bombay and Bank of Madras. It was the last…
With the transfer of undertaking of Imperial Bank of India to State Bank of India (SBI) and its subsequent massive expansion in the under-banked and unbanked centres spread institutional credit into regions which were un-banked heretofore.
