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.
The State Bank of India was born with a new sense of social purpose aided by the 480 offices comprising branches, sub offices and three Local Head Offices inherited from the Imperial Bank. The concept of banking as mere repositories of the community's savings and lenders to creditworthy parties was soon to give way to the concept of purposeful banking subserving the growing and diversified financial needs of planned economic development. The State Bank of India was destined to act as the pacesetter in this respect and lead the Indian banking system into the exciting field of national development.
Following are the products and services od State Bank of India:
1.Personal Banking: State Bank of India offers a wide range of services in the Personal Banking Segment which are indexed here.:-
SBI Term Deposits
SBI Loan For Pensioners
SBI Recurring Deposits
Loan Against Mortgage Of Property
SBI Housing Loan
Loan Against Shares & Debentures
SBI Car Loan
Rent Plus Scheme
SBI Educational Loan
SBI Personal Loan
Rates Of Interest
2.Agriculture/rural : State Bank of India Caters to the needs of agriculturists and landless agricultural laborers through a network of 6600 rural and semi-urban branches. There are 972 specialized branches which have been set up in different parts of the country exclusively for the development of agriculture through credit deployment. These branches include 427 Agricultural Development Branches (ADBs) and 547 branches with Development Banking Department (DBDs) which cater to agriculturists and 2 Agricultural Business Branches at Chennai and Hyderabad catering to the needs of hi-tech commercial agricultural projects.
Following are the plans for rural people:
•CROP LOAN (ACC)
•PRODUCE MARKETING LOAN SCHEME
•LOAN AGAINST WAREHOUSE RECEIPTS / COLD STORAGE RECEIPTS •KISAN CREDIT CARD SCHEME (KCC)
•AGRICULTURAL TERM LOANS (ATL)
•LAND DEVELOPMENT SCHEMES
•MINOR IRRIGATION SCHEMES
•FARM MECHANISATION SCHEMES
•FINANCING OF COMBINE HARVESTERS
•KISAN GOLD CARD SCHEME
•LAND PURCHASE SCHEME
•KRISHI PLUS SCHEME
•ARTHIAS PLUS SCHEME
•DAIRY PLUS SCHEME
•BROILER PLUS SCHEME
•FINANCE TO HORTICULTURE
•LEAD BANK SCHEME
•AGRI BUSINESS HEADS
3.Government Business: State Bank of India's linkage with Government business are widespread. No wonder that out of 9315 branches in India, about 7000 branches are conducting Government Business. The large network of our branches provides easy access to the common man to deposit the following Government dues and pension payments. SBI e-tax, an online tax payment facility that saves time, is convenient, hassle free and paperless. It is available on a 24x7 basis and enables you to pay taxes online, with ease and simplicity. Pay Direct/Indirect taxes through SBI e-tax and relax. Other government businesses include government accounts, public provident fund and senior citizen’s pension scheme.
4. Corporate Banking: SBI is a one shop providing financial products / services of a wide range for large , medium and small customers both domestic and international.
Working Capital Financing
Assistance extended both as Fund based and Non-Fund based facilities to Corporates , Partnership firms , Proprietary concerns...