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STATE BANK OF INDIA

EVOULTION OF STATE OF INDIA

The origin of SBI goes back to the first decade of the nineteenth century with establishment of the bank of Calcutta in Calcutta on 2nd 1806. Three years later bank received its charter and was redesigned as the Bank of Bengal. The Bank of Bombay and bank of Madras followed the bank of Bengal.

CONT These three banks remained aT the apex of modern banking in India till their amalgamation as the Imperial Bank of India on 27th January 1921.

Mission Statement
To retain the banks position as the premier Indian financial services.

Group with world class standards and significant global business commitment to excellence in customer, shareholder and employee satisfaction and to play a leading role in the expanding and diversifying financial services sector while continuing emphasis on its development banking role.

Vision Statemen t

Values

Excellence in customer service. Profit orientation. Belonging and commitment to the bank. Fairness in all dealings and relations. Risk taking and innovation.

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Team-playing. Learning and renewal. Integrity. Transparency and discipline in policies and systems.

STRATEGY ADOPTED BY STATE BANK OF INDIA

Institution for advanced learning : To provide state of the art training in financial products to middle level and senior level executives.

Internal consultant/change agent : To act as catalyst for change in attitudes and orientation of banking staff and to provide expertise and consultative support.

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Feedback supplier : To capture and structure feedback from trainees and from the market. Think Tank : To provide expert and informed suggestions, model business strategies, analysis of market developments from a banker perspective.

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Research and development role :

To carry out research on contemporary subjects which are relevant to the banks short term and medium term and operational needs and policy formulation.

Overlapping staff training centers :

To liaise, validate and closely monitor the staff training centers in seven circles attached to the academy

New Business undertaken by SBI

Due to competition from the private banks and in order to serve the customers need as well for the development of the economy State Bank of India has been entered into the new market. Recently SBI has started two new service providing areas they are :

SBI LIFE INSURANCE SBI MUTUAL FUNDS SBI MEDICAL INSURANCE.

SBI Life Insurance is a joint venture between the State Bank of India and Cardiff SA of France.
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SBI LIFE INSURANCE

It is registered with an authorized capital of 500 crore and a paid up capital of 350 crore. SBI Life Insurance offers personal Insurance and related services.
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The strategy adopted by them is to provide the customers the utmost benefit along with the fulfillment of companies goal and mission.
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SBI MUTUAL FUND

SBI Mutual Fund is a joint venture between SBI AND Societe General Asset Management, one of the worlds leading fund management companies that manages over US 500 $ Billion worldwide. They offer us services of expert and experienced fund managers to help us create a portfolio of equity, debt or balanced based investments in 36 active schemes of mutual funds on offer. Growth through innovation and stable investment policies is the SBI MF Credo.

Conclusion
State Bank Of India earlier known as Imperial Bank has proved its existence through introducing various innovative schemes and that also are considered as competitive in present market.
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At the same time we can conclude that they need to focus on their human resources in order to achieve the maximum market share.
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