Browse Definitions :
Definition

State Bank of India (SBI)

State Bank of India (SBI) is the country's largest commercial bank, in terms of assets, deposits, and employees. 

Owned by the Indian government, it offers a range of general banking services from loans and advances to corporates and individuals in India and abroad. Because it is state-owned, SBI is the preferred banker for most public sector corporations. SBI, along with its associate banks, offers micro-financing to entities such as self-help groups in rural areas that would otherwise have no access to formal credit channels. Through its subsidiaries and joint ventures, SBI offers financial services such as investment banking, brokerage services, asset management and insurance. 

Although SBI's origins date back to the 19th century, it was formally established post-independence on July 1, 1955 through the implementation of SBI Act, 1955. Upon its formal establishment, the bank took over the assets of the Imperial Bank of India, which was formed in 1921 with the amalgamation of three banks -- Bank of Bengal, Bank of Bombay and Bank of Madras. State Bank of India went public in 1993 issuing 1.24 crore shares priced at Rs 100 each; the Government continues to be the majority owner. 

See Also: core banking system

This was last updated in July 2012

Continue Reading About State Bank of India (SBI)

SearchCompliance

  • information governance

    Information governance is a holistic approach to managing corporate information by implementing processes, roles, controls and ...

  • enterprise document management (EDM)

    Enterprise document management (EDM) is a strategy for overseeing an organization's paper and electronic documents so they can be...

  • risk assessment

    Risk assessment is the identification of hazards that could negatively impact an organization's ability to conduct business.

SearchSecurity

  • spam trap

    A spam trap is an email address that is used to identify and monitor spam email.

  • honeypot (computing)

    A honeypot is a network-attached system set up as a decoy to lure cyber attackers and detect, deflect and study hacking attempts ...

  • cracker

    A cracker is someone who breaks into someone else's computer system, often on a network; bypasses passwords or licenses in ...

SearchHealthIT

SearchDisasterRecovery

  • risk mitigation

    Risk mitigation is a strategy to prepare for and lessen the effects of threats faced by a business.

  • call tree

    A call tree is a layered hierarchical communication model that is used to notify specific individuals of an event and coordinate ...

  • Disaster Recovery as a Service (DRaaS)

    Disaster recovery as a service (DRaaS) is the replication and hosting of physical or virtual servers by a third party to provide ...

SearchStorage

  • cloud storage

    Cloud storage is a service model in which data is transmitted and stored on remote storage systems, where it is maintained, ...

  • cloud testing

    Cloud testing is the process of using the cloud computing resources of a third-party service provider to test software ...

  • storage virtualization

    Storage virtualization is the pooling of physical storage from multiple storage devices into what appears to be a single storage ...

Close