HISTORY OF STATE BANK OF INDIA

The roots of the State Bank of India rest in the first decade of 19th century, when
the Bank of Calcutta, later renamed the Bank of Bengal, was established on 2 June
1806. The Bank of Bengal and two other Presidency banks, namely, the Bank of
Bombay (incorporated on 15 April 1840) and the Bank of Madras (incorporated on
1 July 1843). All three Presidency banks were incorporated as joint stock
companies, and were the result of the royal charters. These three banks received the
exclusive right to issue paper currency in 1861 with the Paper Currency Act, a right
they retained until the formation of the Reserve Bank of India. The Presidency
banks amalgamated on 27 January 1921, and the reorganized banking entity took as
its name Imperial Bank of India. The Imperial Bank of India continued to remain a
joint stock company. Pursuant to the provisions of the State Bank of India Act
(1955), the Reserve Bank of India, which is India's central bank, acquired a
controlling interest in the Imperial Bank of India. On 30 April 1955 the Imperial
Bank of India became the State Bank of India. The Govt. of India recently acquired
the Reserve Bank of India's stake in SBI so as to remove any conflict of interest
because the RBI is the country's banking regulatory authority.Offices of the Bank of
Bengal In 1959 the Government passed the State Bank of India (Subsidiary Banks)
Act, enabling the State Bank of India to take over eight former State-associated
banks as its subsidiaries. On Sept 13, 2008, StateBank of Saurashtra, one of its
Associate Banks, merged with State Bank of India. SBI has acquired local banks in
rescues. For instance, in 1985, it acquired Bank of Cochin in Kerala, which had 120
branches. SBI was the acquirer as its affiliate, State Bank of Travancore, already
had an extensive network in Kerala

2006

• First international customer for FSSNeT Bhutan National Bank goes for ATM and POS
driving and card management services.

• FSSNeT Managed Services Centre inaugurated in Mumbai

• Canara Bank one of the largest Public Sector Indian Banks signs FSS for its Base24
switch.

• Bank of Maharashtra opts for FSS ATM Outsourced Services to deploy 500 ATMs

• National Savings Bank Sri Lanka signs up with FSS

2005

• GlobeTel Communications Corp. (GTEL) announces alliance with FSS, the partnership
will help develop the Stored Value Programs and Money Remittances, that will initially
target the Indian remittance market.

• FSSNeT powers Reliance Mutual Fund to launch India 's First Mutual Fund with an
ATM cum Debit Card. The ‘Reliance Any Time Money Card' allows access to mutual fund
investments at over 1 million ATMs across the world.

• The SBI Group hits the 5000 ATM target powered by FSS

• IntraNet Worldwide signs up FSS as distributors for the Indian region

• Karur Vysya Bank signs up FSSNeT for Mobile Top- Up services on ATM

2004

FSS announces overseas expansion of its solutions and services.

FSS enables SBI’s bilateral ATM Sharing with various banks.

FSS enables ICICI and SBI switches for multi-currency and EMV compliance.

Anticipated growth in business, FSS acquires additional office space in Mumbai and
Chennai.

FSS receives second round of funding from The Carlyle Group.

Vijaya Bank signs up for FSSNeT end to end ATM Integrated Management Services.

FSS launches pre paid mobile top up as a FSSNeT services. In a short period of 3 months,
FSS acquires 9 customers for its mobile top up services.

HDFC Bank becomes the first customer for the risk management product and becomes the
first bank in India to install fraud prevention technology.

FSS bags first offshore software development contract from ACI Omaha USA to assist in
the development and support of a new line of products including BASE24es.

2003

Oriental Bank of Commerce chooses BASE24.

FSS drives Bi-lateral ATM sharing for various banks including UTI Bank, HDFC Bank,
ICICI Bank and Andhra Bank.

FSS enables MITR Multi lateral ATM Network Sharing network with Punjab National
Bank as a lead / settlement bank.

2002

FSS implements BASE24 solution for Andhra Bank.

Kotak Mahindra Bank signs up for BASE24 solution from FSS.

Union Bank of India selects BASE24 solution.

FSS implements BASE24 solution for Federal Bank.

2001

FSS inaugurates offshore development center at Tidel IT Park, Chennai.

FSS launches Application Service Provider (ASP) services, now called FSSNeT, to provide
ASP hosted TPS and Terminal Driving Services for banks on a pay-per-use basis.

Karur Vysya Bank becomes the first customer for FSS ASP services.

Central Bank of India (CBI) logs on to FSS ASP services.

Master Card debit switch operationalized at FSS’ facility in Chennai.

Punjab National Bank (PNB) acquires BASE24 switch and FSS-ASP card management
services.

ACI- South Africa utilizes FSS’ implementation services for State Bank of Mauritius
project.

ACI-Middle East utilizes FSS’ implementation services for Al-Rahji project.

2000

FSS implements first eCommerce Payment Gateway in India.

Bank of Madura connects its 150 ATMs & 150 ISBS distributed branch systems through
FSS switch.

FSS completes fastest BASE24 installation in four weeks flat.

IndusInd Bank becomes FSS’ customer for BASE24 switch.

The Carlyle Group invests for a minority stake into FSS.

India’s largest bank State Bank of India (SBI) becomes a BASE24 switch customer. FSS is
awarded an order (in a Global Tender) to implement BASE24 to network SBI's growing
ATM population and connect the bank's several thousand distributed host systems. (SBI is
a very unique site for BASE24 where closed to 5000 ATMs and 5000 branch host systems
are connected to provide online access to the bank's customers through ATMs. SBI with
5000 ATMs is the largest single bank network in the Asia-Pacific.)

The Bombay Stock Exchange (BSE) becomes the first preferred stock exchange customer
for PROGNOSIS system management tools with implementation and support from FSS.

1999

ICICI Bank awards FSS a migration project to convert to BASE24 (from a competing
solution) for its network of over 200 ATMs. (Today, ICICI Bank is one of FSS' largest
customers with over 1850 ATMs and 35000 POS).

FSS becomes worldwide Compaq Solutions (now HP) alliance partner (CSA).

1998

FSS implements ATM / Branch Network for Bank of Ceylon, Sri Lanka.

FSS ties up with Integrated Research, Australia to market and support IR's industry
leading PROGNOSIS system management tools.

FSS establishes software support center in Mumbai to meet the growing support
requirements of its customers.

1997

FSS implements nationwide ATM network for UTI Bank.

FSS ties up with BC Computers, to provide switch expertise in Sri Lanka.

1996

HDFC Bank becomes the first private bank to operate an online, real-time ATM network
using software solutions from FSS.

1995

FSS helps IBA establish SWADHAN, the first shared ATM system in Mumbai, India.

1992

Bank of America’s Indian operation (now ABN Amro Bank), through FSS, becomes a
BASE24 user. Encouraged by this, Bank of America adopted BASE24 worldwide.

1991

FSS is incorporated on February 20 and gets off the block with first Indian customer win –
Indian Bank signs up for BASE24 switch.

1989

FSS promoters tie up with Applied Communications Inc. (now ACI Worldwide) for world
class TPS technology.

ASSOCIATE BANKS OF STATE BANK OF INDIA

There are six associate banks that fall under SBI, and together these six banks
constitute the State Bank Group. All use the same logo of a blue keyhole and all the
associates use the "State Bank of" name followed by the regional headquarters'
name. Originally, the then seven banks that became the associate banks belonged to
princely states until the government nationalized them between October, 1959 and
May, 1960. In tune with the first Five Year Plan, emphasizing the development of
rural India, the government integrated these banks into State Bank of India to
expand its rural outreach. There has been a

proposal to merge all the associate banks into SBI to create a "mega bank" and
streamline operations. The first step along these lines occurred on 13 August 2008
when State Bank of Saurashtra merged with State Bank of India, which reduced the
number of state banks from seven to six. Furthermore on 19th June 2009 the SBI
board approved the merger of its subsidiary, State Bank of Indore, with itself. SBI
holds 98.3% in the bank, and the balance 1.77% is owned by individuals, who held
the shares prior to its takeover by the government. The acquisition of State Bank of
Indore will help SBI add 470 branches to its existing network of 11,448. Also,
following the acquisition, SBI’s total assets will inch very close to the Rs 10-lakh
crore mark. Total assets of SBI and the State Bank of Indore stood at Rs 998,119
crore as on March 2009.

State Bank of India Branches

State Bank of India branches span the country with a vast network to reach out to
as many customers as possible making full contribution to the status of India's
largest bank for SBI. Each SBI branch is provided an identification code that is
unique to each branch. The SBI bank branches are categorized according to the
banking services they provide.

These include SBI Core Banking Branch, Domestic Forex Branch, Internet
Banking, and Personal Banking (Real Time Gross Settlement) Branches.

State Bank of India being the largest bank provides specialized banking services in
accordance with the special requirements of a particular community or area. The
SBI branch type thereby depends on the special banking services it aims to provide.
These include agricultural business and development branches, commercial retail
branches, corporate accounts and mid corporate group branches, main branch,
industrial finance branch, NRI banking branch, overseas branches, personal
banking branch, rehabilitation & recovery branch, SSI and SIB branch, service
branches and more.
SBI Branch Code

The SBI branch codes, branch address and exact locations can be searched from the
SBI branch locator provided on their official website mentioned below. Get a
complete list of all State Bank of India branches in India and USA. Some of the SBI
branches in major cities like Bangalore, Mumbai, Hyderabad, Chennai, Delhi,
Kolkata, Pune, and New York are also mentioned below. Each State Bank of India
branch is assigned different and unique Branch Codes, SWIFT Codes and IFSC
Codes to identify the branch for a particular banking transaction.

To get to know any of the above-mentioned codes for the SBI branch you have your
account with, you can either directly contact the help desk of your bank, or call up
the SBI help line numbers or login to SBI website.

For any information regarding SBI Online banking services and SBI ATMs ,
browse through our dedicated pages on each.

SBI Life Insurance

SBI Life Insurance offers Personal Insurance and related services in order to enable
us plan our life for contingencies and unforeseen events. SBI Life Insurance
operates on the basic premise that life is uncertain and the best way to tackle this
uncertainty is to be prepared emotionally as well as monetarily.

SBI LIfe Insurance Plans

SBI Life Insurance is a product of the collaboration of the State Bank of India
and the French Insurance company, the Cardiff SA. SBI Life Insurance offers
Insurance Benefits and pension services based on the case and the portfolio of
the clients. For instance, The State Bank of India offers Insurance Policies that
are designed in accordance to our needs and liabilities.

The advantage of availing SBI Insurance Policies is that we get the entire
financial guidance package offered by SBI India in regards to its various
programs, like the SBI Mutual Funds, Medical Insurance, Personal Banking,
Corporate Banking, etc.

The experts with SBI Life Insurance offer investment life insurance but what
distinguishes The State Bank of India from other Insurance Companies is the
availability of Mortgage Life Insurance policies in which we can avail SBI
 Housing Loans/Home Loans and SBI Life Insurance and then consolidate the
insurance premium and the monthly installments. The main hallmark of SBI
Life Insurance is to offer Insurances Policies and Long-Term Care Insurance at
affordable prices and without much hassle.

That is the reason, we find, SBI Online and the Website of SBI Life Insurance
providing assistance related to SBI Life Insurance Plan and Insurance Benefits.
Indiahousing.com offers a comprehensive database on The State Bank of India
and SBI Life Insurance in India and its cities like Mumbai, Bangalore,
Hyderabad, Delhi etc.

Insurance Companies in India

Bajaj Allianz Life AMP Sanmar Life Insurance Birla Sun Life Insurance
Insurance
Aviva Life Insurance HDFC Life Insurance ICICI Prudential Life
Insurance
Max Newyork Life Metlife India Insurance Reliance Life Insurance
Insurance
Shiram Life Insurance Tata AIG Life Insurance SBI Life Insurance
Bharti AXA Life Insurance ING Vysya Life Insurance Sahara Life Insurance
Kotak Mahindra General Insurance Royal Sundaram
Insurance Corporation India Insurance
Canara HSBC OBC Life
Insurance

GROWTH OF STATE BANK OF INDIA

State Bank of India has often acted as guarantor to the Indian Government, most
notably during Chandra Shekhar's tenure as Prime Minister of India. With 11,448
branches and a further 6500+ associate bank branches, the SBI has extensive
coverage. State Bank of India has electronically networked all of its branches under
Core Banking System (CBS). The bank has one of the largest ATM networks in the
region. More than 8500 ATMs across India. The State Bank of India has had steady
growth over its history, though it was marred by the Harshad Mehta scam in 1992.
In recent years, the bank has sought to expand its overseas operations by buying
foreign banks. It is the only Indian bank to feature in the top 100 world banks in the
Fortune Global 500 rating and various other rankings.

INTERNATIONAL PRESANCE OF SBI

The bank has 92 branches, agencies or offices in 32 countries. It has branches of the
parent in Colombo, Dhaka, Frankfurt, Hong Kong, Johannesburg, London and
environs, Los Angeles, Male in the Maldives, Muscat, New York, Osaka, Sydney,
and Tokyo. It has offshore banking units in the Bahamas, Bahrain, and Singapore,
and representative offices in Bhutan and Cape Town. SBI operates several foreign
subsidiaries or affiliates. In 1990 it established an offshore bank, State Bank of India
(Mauritius). It has two subsidiaries in North America, State Bank of India
(California), and State Bank of India (Canada). In 1982, the bank established its
California subsidiary, named State Bank of India (California), which now has eight
branches - seven branches in the state of California and one in Washington DC
which was recently opened on 23rd November, 2009. The seven branches in the state
of California are located in Los Angeles, Artesia, San Jose, Canoga Park, Fresno,
San Diego and Bakersfield. The Canadian subsidiary too dates to 1982 and has
seven branches, four in the greater Toronto area, and three in British Columbia. In
Nigeria, SBI operates as INMB Bank. This bank began in 1981 as the Indo-Nigerian
Merchant Bank and received permission in 2002 to commence retail banking. It
now has five branches in Nigeria. In Nepal SBI owns 50% of Nepal SBI Bank, which
has branches throughout the country. In Moscow SBI owns 60% of Commercial
Bank of India, with Canara Bank owning the rest. In Indonesia it owns 76% of PT
Bank Indo Monex. State Bank of India already has a branch in Shanghai and plans
to open one up in Tianjin.

BOARD OF DIRECTOR OF SBI

S.No Name Designation

1 Mr.O P Bhatt Chairman / Chair Person
2 Prof.Md. Salahuddin Ansari Director
3 Dr.(Mrs.)Vasantha Bharucha Director
4 Dr.Ashok Jhunjhunwala Director
5 Mrs.Shyamala Gopinath Director
6 Dr.Deva Nand Balodhi Director
7 Mr.S Venkatachalam Director
8 Mr.D Sundaram Director
9 Dr.Rajiv Kumar Director
10 Mr.Dileep C Choksi Director
11 Mr.S K Bhattacharyya Managing Director
12 Mr.R Sridharan Managing Director
 JOURNEY AND VISION OF SBI
The State Bank of India, the country’s oldest Bank and a premier in terms of
balance sheet size, number of branches, market capitalization and profits is today
going through a momentous phase of Change and Transformation – the two
hundred year old Public sector behemoth is today stirring out of its Public Sector
legacy and moving with an agility to give the Private and Foreign Banks a run for
their money. The bank is entering into many new businesses with strategic tie ups –
Pension Funds, General Insurance, Custodial Services, Private Equity, Mobile
Banking, Point of Sale Merchant Acquisition, Advisory Services, structured
products etc – each one of these initiatives having a huge potential for growth. The
Bank is forging ahead with cutting edge technology and innovative new banking
models, to expand its Rural Banking base, looking at the vast untapped potential in
the hinterland and proposes to cover 100,000 villages in the next two years. It is also
focusing at the top end of the market, on whole sale banking capabilities to provide
India’s growing mid / large Corporate with a complete array of products and
services. It is consolidating its global treasury operations and entering into
structured products and derivative instruments. Today, the Bank is the largest
provider of infrastructure debt and the largest arranger of external commercial
borrowings in the country. It is the only Indian bank to feature in the Fortune 500
list. The Bank is changing outdated front and back end processes to modern
customer friendly processes to help improve the total customer experience. With
about 8500 of its own 10000 branches and another 5100 branches of its Associate
Banks already networked, today it offers the largest banking network to the Indian
customer. The Bank is also in the process of providing complete payment solution to
its clientele with its over 8500 ATMs, and other electronic channels such as Internet
banking, debit cards, mobile banking, etc.

With four national level Apex Training Colleges and 54 learning Centres spread all
over the country the Bank is continuously engaged in skill enhancement of its
employees. Some of the training programmes are attended by bankers from banks
in other countries. The bank is also looking at opportunities to grow in size in India
as well as Internationally. It presently has 82 foreign offices in 32 countries across
the globe. It has also 7 Subsidiaries in India – SBI Capital Markets, SBICAP
Securities, SBI DFHI, SBI Factors, SBI Life and SBI Cards - forming a formidable
group in the Indian Banking scenario. It is in the process of raising capital for its
growth and also consolidating its various holdings. Throughout all this change, the
Bank is also attempting to change old mindsets, attitudes and take all employees
together on this exciting road to Transformation. In a recently concluded mass
internal communication programme termed ‘Parivartan’ the Bank rolled out over
3300 two day workshops across the country and covered over 130,000 employees in
a period of 100 days using about 400 Trainers, to drive home the message of Change
and inclusiveness. The workshops fired the imagination of the employees with some
other banks in India as well as other Public Sector Organizations seeking to emulate
the programme. The CNN IBN, Network 18 recognized this momentous
transformation journey, the State Bank of India is undertaking, and has awarded
the prestigious Indian of the Year – Business, to its Chairman, Mr. O. P. Bhatt in
January 2008.

EVOLUTION OF SBI
The origin of the State Bank of India goes back to the first decade
of the nineteenth century with the establishment of the Bank of Calcutta in Calcutta
on 2 June 1806. Three years later the bank received its charter and was re-designed
as the Bank of Bengal (2 January 1809). A unique institution, it was the first joint-
stock bank of British India sponsored by the Government of Bengal. The Bank of
Bombay (15 April 1840) and the Bank of Madras (1 July 1843) followed the Bank of
Bengal. These three banks remained at the apex of modern banking in India till
their amalgamation as the Imperial Bank of India on 27 January 1921. Primarily
Anglo-Indian creations, the three presidency banks came into existence either as a
result of the compulsions of imperial finance or by the felt needs of local European
commerce and were not imposed from outside in an arbitrary manner to modernise
India's economy. Their evolution was, however, shaped by ideas culled from similar
developments in Europe and England, and was influenced by changes occurring in
the structure of both the local trading environment and those in the relations of the
Indian economy to the economy of Europe and the global economic framework.

ESTABLISHMENT
The establishment of the Bank of Bengal marked the advent of
limited liability, joint-stock banking in India. So was the associated innovation in
banking, viz. the decision to allow the Bank of Bengal to issue notes, which would be
accepted for payment of public revenues within a restricted geographical area. This
right of note issue was very valuable not only for the Bank of Bengal but also its two
siblings, the Banks of Bombay and Madras. It meant an accretion to the capital of
the banks, a capital on which the proprietors did not have to pay any interest. The
concept of deposit banking was also an innovation because the practice of accepting
money for safekeeping (and in some cases, even investment on behalf of the clients)
by the indigenous bankers had not spread as a general habit in most parts of India.
But, for a long time, and especially upto the time that the three presidency banks
had a right of note issue, bank notes and government balances made up the bulk of
the investible resources of the banks. The three banks were governed by royal
charters, which were revised from time to time. Each charter provided for a share
capital, four-fifth of which were privately subscribed and the rest owned by the
provincial government. The members of the board of directors, which managed the
affairs of each bank, were mostly proprietary directors representing the large
European managing agency houses in India. The rest were government nominees,
invariably civil servants, one of whom was elected as the president of the board.

ASSOCIATE BANKS OF SBI AND IT,S BUSINESS

State Bank of India has the following six Associate Banks (ABs) with controlling
interest ranging from 75% to 100%:-

1. State Bank of Bikaner and Jaipur (SBBJ)

2. State Bank of Hyderabad (SBH)
3. State Bank of Indore (SBIr)
4. State Bank of Mysore (SBM)
5. State Bank of Patiala (SBP)
6. State Bank of Travancore (SBT)

The six ABs have a combined network of 4502 branches in India which are fully
computerized and 2410 ATMs networked with SBI ATMs, providing value added
services to clientele. The combined net profit of these banks increased by 12% over
the previous year to reach Rs.2277.69 crores. Deposits and advances grew by 19%
and 22%, respectively, during the year. The combined Net NPA ratio of all ABs was
at 0.61% as on 31st March 2008.The highlights of performance of the six ABs for
the year 2007-08 are as follows:-

Rs (in crores)

Deposits 234168

Loans 178376

Investments 75147

Total assets 238285

Returns on 0.86%
Assets

No. of 4502
branches
SBICI Bank Ltd (Banking Subsidiary, fully owned by
SBI):-
SBICI Bank Ltd has two branches, fully computerised, operating in Mumbai. The
Bank recorded a net profit of Rs.12.85 crores during 2007-08. Deposits, Loans and
Investments were at Rs.522.01 crores, Rs.354.99 crores and Rs.143.59 crores,
respectively, as at 31st March 2008. Return on Assets was at 1.12% while Capital
Adequacy Ratio stood at 27.36% as on 31.3.2008. For more details please visit the
website detailed as under:-

FOREIGN SUBSIDIARIES

SBIInternational(Mauritius)Ltd.,OffshoreBank (A subsidiary of State Bank of

India) State bank of India International (Mauritius) Ltd is one of the first offshore
banks to be established in Mauritius in 1990, with a paid up capital of USD 10
Million. The Bank has had a consistent record of having earned profits since its very
first year of operations. SBIIML, with the expertise of its management and
personnel, is customer focussed, and offers to all its clients, all over the world, high
quality, cost effective professional services and innovative products. The Bank lays
emphasis on technology, which is an integral part of its operations having a
significant impact on services rendered. It has, presently, clients spread over 40
countries.

• Acceptance of deposits in foreign currencies mainly US Dollar, Pound

Sterling, Euro and also other currencies. Attractive rates of interest are
offered.

• International remittances in all major currencies through SWIFT, quickly

and effectively

• Loans/syndications in major currencies, like Euro/Dollar/Japanese Yen.

• Trade Services, including issuance of/negotiations under documentary

letters of credits and issuance of bank guarantees.

• Hedging of exchange and interest rate risks on behalf of customers.

• Sales and Purchases of foreign currencies in the Spot and Forward Market.

• Rendering custodial services for offshore funds registered in Mauritius.

• Products tailored to suit the requirements of customers

 The Bank adopts the best Corporate Governance practices, and comprehensive
risk management policies and systems ensure effective control of risks. A strong
capital base, and near zero nonperforming assets further add to the strength and
stability of the Bank.

FINANCIAL PERFORMANCEAS ON 31.03.2004

ITEMS USD Rs in
MIO CRORES
RESOURCES
Capital % Reserves 19.10 83.50
Deposits 112.52 491.54
Borrowings 38.56 166.54
Other Liabilities 7.30 31.91
DEPLOYMENT
Investment & Placement 37.84 165.43
Advances 132.42 578.91
All Other Assets 6.67 29.18
TOTAL ASSETS 176.93 773.50
NET PROFIT 1.14 4.98

SBI Life Insurance Company Ltd (SBI LIFE)

SBI Life Insurance, India’s largest private life insurance, is a joint venture between
State Bank of India and BNP Paribas Assurance SBI owns 74% of the total capital
and BNP Paribas Assurance the remaining 26%. SBI Life Insurance has an
authorized capital of Rs. 2,000 crore and a paid up capital of Rs 1,000 crores. BNP
Paribas Assurance is the insurance arm of BNP Paribas - Euro Zone’s leading
Bank. BNP Paribas, part of the worlds top 10 groups of banks by market value and
part of Europe top 3 banking companies, is one of the oldest foreign banks with a
presence in India dating back to 1860. BNP Paribas Assurance is the fourth largest
life insurance company in France, and a worldwide leader in Creditor insurance
products offering protection to over 50 million clients. BNP Paribas Assurance
operates in 41 countries mainly through the banc assurance and partnership model.
SBI Life Insurance’s mission is to emerge as the leading company offering a
comprehensive range of Life Insurance and pension products at competitive prices,
ensuring high standards of customer service and world class operating efficiency.
SBI Life has a unique multi-distribution model encompassing Banc assurance,
Agency and Corporate Solutions. SBI Life extensively leverages the SBI Group
relationship as a platform for cross-selling insurance products along with its
numerous banking product packages such as housing loans and personal loans.
Agency Channel, comprising of the most productive force of over 68,000 Insurance
Advisors, offers door to door insurance solutions to customers.