This article discusses the history and growth of the State Bank of India (SBI), one of India's largest state-owned financial institutions. It traces the bank's evolution from the time of the British Raj to its current position as a leader in the digital banking space. The article also highlights the various products and services offered by SBI and its global presence. As of March 2023, SBI serves over 45 crore customers through its vast network of branches and ATMs. It is also listed on various stock exchanges and is a part of multiple indices.
State Bank of India: A Historical and Statistical Perspective
The State Bank of India (SBI) holds a prominent position among India's financial institutions, with a rich history dating back to the British colonial era.
History and Evolution
Growth and Performance
Services and Offerings
SBI provides a wide range of products and services, including:
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Elon Musk, the CEO of SpaceX and Tesla, has announced that the company's rocket launch site in South Texas will now be known as Starbase, an official city. The announcement was made on social media platform X and was followed by a letter sent to local officials requesting an election to incorporate the area. If approved, Starbase would become the newest city in Texas's Rio Grande Valley. This move comes after Musk relocated his personal residence and the headquarters of two of his companies from California to Texas in 2021. Despite facing criticism, Starbase has been an important location for SpaceX's operations, with over 3,400 employees and contractors working on the development and testing of Starship rockets for future missions to the Moon and Mars.
After completing construction and securing necessary permits, Cordish Co. is gearing up for the grand opening of its new resort in Louisiana. The resort will feature over 1,000 slot machines and plans to open its doors to the public in early 2025. As preparations continue, the company is also in the process of hiring 750 permanent employees. With the arrival of the slot machines onto the gaming floor, the project has reached another milestone towards its opening.
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Tech giant Meta (formerly known as Facebook) donates $1 million dollars to Trump's inaugural fund. This follows recent moves to mend the relationship between the two, including CEO Mark Zuckerberg's invitation to dinner with the president-elect and a gift of Ray-Ban smart glasses to Trump. This donation raises concerns about the influence of big tech companies on politics and the lengths they will go to maintain a good relationship with those in power. However, it is not uncommon for corporations to make donations to inauguration events in order to gain favor with the incoming administration.
After successfully raising Rs 2,400 crore from institutional investors, Vishal Mega Mart's IPO moves into its second day of bidding with a fully subscribed allocation for non-institutional investors. Despite a dynamic market environment, the hypermarket chain's IPO has generated significant interest with a minimum lot size of 190 shares for retail investors. The bidding window will close on Friday, December 13, with a price band of Rs 74-78 per equity share.
Selena Gomez, the famous singer and actress, has recently announced her engagement to record producer Benny Blanco. The couple has been dating since 2023 and has finally taken the next step in their relationship. Along with her successful career in entertainment, Gomez also has a successful business, her makeup brand named Rare Beauty. Meanwhile, Benny Blanco's net worth is estimated to be around $50 million, thanks to his renowned work as a songwriter and music producer.
In a move to boost its international connectivity, Mangaluru airport has announced the introduction of a direct flight to Singapore by Air India Express from January 21, 2025. This new route is expected to open up business and trade opportunities between the two countries, and make travel for passengers more convenient and efficient. The direct flight will significantly reduce travel time and eliminate the need for layovers, making Mangaluru an even more attractive destination for business and leisure travelers.
The Supreme Court has ruled in favor of spiritual organization Radha Soami Satsang Beas in a case against the Income Tax Department. The court has set aside the department's reassessment notice, which was issued towards initiating proceedings against the organization. The decision has been welcomed by the organization, which was represented by notable attorney Kapil Sibal, and is seen as a significant development in the ongoing legal battle between the two entities.
Rajasthan Chief Minister Bhajan Lal Sharma has announced that the Rising Rajasthan Global Investment Summit will be held once again in 2026, highlighting the state's potential for entrepreneurship and development. With MoUs worth over Rs 35 lakh crore already signed through this summit, the state government is aiming to promote industrial growth by allocating funds for multiple industrial areas and doubling the number of GI tags in the next three years. The focus on micro, small, and medium industries underscores their importance in the state's industrial structure.
Zanzibar President Dr Hussein Ali Mwinyi has instructed the Planning Commission to ensure thorough public engagement in the process of drafting the National Development Vision 2050. Key stakeholders, including Prime Minister Kassim Majaliwa and Zanzibar's Second Vice President, will need to coordinate the verification process and distribute the draft vision widely to media outlets and civic institutions. The president emphasized the importance of inclusive input from all citizens, regardless of religion, political affiliation, gender, special groups, or region, in order to accurately reflect the aspirations of the people. The team working on the 2050 Vision must align their efforts with national, regional, and international development plans and conduct nationwide consultations in order to create a successful and inclusive vision for Tanzania's future.