2. Now comes the post independence era when Government of India nationalised the Imperial Bank of India in 1955, with the Reserve Bank of India taking a 60% stake, and the bank was renamed as State Bank of India. In 2008, the Government took over the stake held by the Reserve Bank of India.
3. Market is abuzz with the news for long time that its six associate banks namely State Bank of Indore, State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore can be merged together to make State Bank of India as a financial giant.
4. Still despite no merger SBI is largest in India with State Bank Group having more than 16000 branches, has the largest branch network in India. It has a market share among Indian commercial banks of about 20% in deposits and advances, and SBI accounts for almost one-fifth of the nation’s loans.
5. A few credits which goes to the bank are that it is electronically networked to all of its branches under Core Banking System(CBS) and it has more than 8500 ATMs across India. Moreover the bank has been able to find its name in the list of top 100 banks of world which speaks for itself.
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