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The bank descends from the Bank of Calcutta, founded in 1806 via the Imperial Bank of India, making it the oldest commercial bank in the Indian subcontinent.
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).
Sep 25, 2023 · History of State Bank of India. The origin of the State Bank of India goes back to 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). It was the first joint-stock bank of British India sponsored by the Government of Bengal.
Founded in 1806, Bank of Calcutta was the first Bank established in India, and over a period of time, evolved into State Bank of India (SBI). SBI represents a sterling legacy of over 200 years.
Nov 5, 2022 · The State Bank of India (SBI Bank) was established in 1806, in Kolkata. Three years after that, it acquired its charter and was re-designed as Bank of Bengal in 1809. It was the very first joint-stock bank of India, which the Bengal Government sponsored.
Mar 5, 2024 · The history of State Bank of India starts from the establishment of Bank of Calcutta in 1806. Later in 1921, Bank of Calcutta merged with Bank of Bombay and Madras to form Imperial Bank of India which was nationalised in 1955 and named as State Bank of India.
With a legacy of over 200 years, State Bank of India (SBI) traces its ancestry to the Bank of Calcutta founded in 1806 and is the oldest commercial bank in the Indian subcontinent.
Jul 7, 2024 · In 1955 the government of India and the country’s central bank, the Reserve Bank of India (founded 1935), assumed joint ownership of IBI, which was renamed the State Bank of India. Four years later, by the State Bank of India (Subsidiary Banks) Act, banks earlier operated by individual princely states became subsidiaries of SBI.
Aug 12, 2021 · The Imperial bank of India became the State Bank of India on July 1, 1955 and then in 2008, the Government of India took over the Reserve Bank of India’s stakes in SBI. Later in 1959, a Subsidiary Banks Act was passed leading to eight State Banks associate with the State Bank of India.
Created in 1921, the Imperial Bank of India appeared to inaugurate a new era in India's history--culminating in its declaration of independence from the British Empire. The Imperial Bank took on the role of central bank for the Indian government, while acting as a bankers' bank for the growing Indian banking sector.
