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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 India (RBI) in 1935.
- 27 January 1921; 102 years ago
27. Jan. 2014 · The Imperial Bank of India was a commercial bank and a central bank that merged with the State Bank of India in 1955. It was founded in 1921 and had 14 Presidency Banks as its subsidiaries. It played a key role in the economic development of India till independence and beyond. Learn more about its history, functions, and achievements.
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.
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
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. In 1959, the government passed the State Bank of India (Subsidiary Banks) Act.
- 2,36,116 (SEPT 2023)
- 9.02%
- ₹473,378.14 crore (US$59 billion) (2023)
- 10.36%
Learn about the history and evolution of the Imperial Bank of India, which became the State Bank of India after independence, and its role in modern banking in India. Find out how it was re-organised and taken over by the State Bank of India after 1955.
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…