Dipankar Basu joined SBI in 1956 and spent his career there, serving as Chairman from 1993-1995. He discussed SBI's evolution from its origins as the Imperial Bank of India, through its period of dominance pre-nationalization, and its role in implementing government policy post-nationalization. More recently, SBI has adapted to market competition and become a strong universal bank, anticipating trends like investment banking. Though it reduced spatial gaps in access, SBI lagged in asset creation and customer services but has improved in the last decade by playing by market rules.
The Reserve Bank of India (RBI) is India's central bank, established in 1935. It controls monetary policy and promotes financial inclusion in India. The RBI commenced operations on April 1, 1935 under the Reserve Bank of India Act, 1934. It has evolved over time to take on central banking functions and to support India's economic development, including nationalizing commercial banks and establishing deposit insurance. Today it continues to regulate banking, manage monetary policy, and promote financial system stability.
This document provides an analysis of the 4th movement of Mozart's String Quartet No. 17 in B-Flat Major. It summarizes the structure and key elements of the sonata form movement, including two themes in the exposition in the key of B-Flat major and F major respectively, a transition to the closing theme, a development section modulating to C minor, and a recapitulation of the themes in the home key of B-Flat major. The analysis highlights the interplay of rhythms and dynamics between the string parts throughout the movement.
Study: The Future of VR, AR and Self-Driving CarsLinkedIn
?
We asked LinkedIn members worldwide about their levels of interest in the latest wave of technology: whether they¡¯re using wearables, and whether they intend to buy self-driving cars and VR headsets as they become available. We asked them too about their attitudes to technology and to the growing role of Artificial Intelligence (AI) in the devices that they use. The answers were fascinating ¨C and in many cases, surprising.
This ºÝºÝߣShare explores the full results of this study, including detailed market-by-market breakdowns of intention levels for each technology ¨C and how attitudes change with age, location and seniority level. If you¡¯re marketing a tech brand ¨C or planning to use VR and wearables to reach a professional audience ¨C then these are insights you won¡¯t want to miss.
Artificial intelligence (AI) is everywhere, promising self-driving cars, medical breakthroughs, and new ways of working. But how do you separate hype from reality? How can your company apply AI to solve real business problems?
Here¡¯s what AI learnings your business should keep in mind for 2017.
The three presidency banks of Bengal, Bombay, and Madras dominated modern banking in India from their establishment in the early 1800s until their amalgamation in 1921 to form the Imperial Bank of India. The Bank of Bengal was the first joint-stock bank sponsored by the Bengal government. The three banks issued currency notes and expanded their branch networks throughout India as commercialization increased in the late 1800s. In 1921, the three presidency banks merged into the Imperial Bank of India, which took on roles as a commercial bank, banker's bank, and government banker, until the establishment of the Reserve Bank of India in 1935.
Banking in India can be traced back to the Vedic period in 2000-1400 BC, with money lending and deposit-taking evolving over time. The British brought joint-stock banking to India in the early 1700s. To modernize banking, the British established the Presidency Banks in the early 1800s. The Reserve Bank of India was established in 1935 to regulate the banking system and respond to bank failures. Banking nationalization occurred in the 1960s and 1980s.
The document provides an overview of the history and development of banking in India. It discusses the origins of banks, the establishment of early banks in India under British rule, the nationalization of banks in 1969 and 1980, the liberalization of banking in the 1990s, and lists the current types of banks operating in India. It also provides a brief history and business highlights of Andhra Pragathi Grameena Bank as of September 2010.
The banking system in India originated in the late 18th century with the establishment of banks like the Bank of Hindustan and General Bank of India. The oldest bank still in existence is the State Bank of India, formed in 1955 through the merger of presidency banks. Banking was nationalized in the 1960s and 1980s to facilitate government control over credit. Liberalization in the 1990s allowed private banks to enter and transformed the banking sector into one with strong government, private, and foreign participation. Currently, scheduled commercial banks comprise nationalized banks, SBI and its associates, private banks, foreign banks, and regional rural banks.
A Study On Comparative Analysis Of Banks Terms Of Service Quality Projectmukesh Patidar
?
This document provides an overview of the origins and history of the State Bank of India (SBI). It discusses how SBI traces its origins back to 1806 with the establishment of the Bank of Calcutta. It then details the merger of the Bank of Calcutta with the Bank of Bombay and Bank of Madras in 1921 to form the Imperial Bank of India, which later became the SBI after nationalization in 1955. The document also provides background on SBI's large branch network and role as one of the largest banks in India. It discusses the key developments in the 19th century that led to the formation of the original presidency banks that preceded the modern SBI.
Banking in India can be traced back to the Vedic period in 2000-1400 BC, with money lending and deposit-taking occurring. The modern banking system developed under British rule in the 18th century with agencies establishing the first joint-stock banks. To fulfill growing banking needs, the British established the Presidency Banks in the early 19th century. After independence, the Reserve Bank of India was established in 1935 and banks were gradually nationalized in 1969 and 1980 to promote development and access to credit across the country. Private sector banking was reopened in 1993.
This document provides an overview of the history and development of banking in India from 1786 to present day. It discusses the early foundations of banking during British rule through institutions like the Bank of Bengal and Bombay. It then covers the periods of nationalization in 1969 and 1980 when the government took control of major private banks. The document also summarizes key banking reforms since the 1990s that liberalized and opened the industry to competition through policies like universal banking and proposed amendments to banking laws.
This document provides an overview of the history of banking in India from 1786 to post-independence. It discusses the early phase of banking with the establishment of the first banks, the presidency banks, and joint stock banks. Nationalization of banks occurred in 1969 and 1980 which placed most major commercial banks under government ownership. The document also includes an annexure listing tables, charts and diagrams and outlines the contents of 5 chapters on introduction, functional areas, SWOT analysis, financial performance, and conclusion.
This document provides an overview of the history and development of banking in India. It discusses how banking originated in India in the late 18th century with the establishment of several banks. It then covers the development of banking during major historical periods in India including under British colonial rule, post-independence, and the current system. Key events discussed include the nationalization of major private banks in 1969, the establishment of state-run banks, and the Reserve Bank of India being established as the central banking authority. The document traces how the Indian banking sector has evolved from its early origins to the present day system.
AN INTRODUCTION TO INDIAN BANKING SYSTEM.pdfPoojaTrehan2
?
The document summarizes the evolution of the Indian banking system in 4 phases:
1) Evolutionary phase (pre-1947): Banking existed since ancient times but was dominated by the Imperial Bank of India. Banking was largely urban-focused.
2) Foundation phase (1947-1969): At independence, banking was entirely private sector dominated. Rural access to banking was inadequate. The State Bank of India was established in 1955 to boost rural banking.
3) Expansion phase (1969-1990): Nationalization of major banks in 1969 and 1980 increased branch network. Priority sector lending norms were introduced.
4) Liberalization phase (post-1990): Banking was deregulated and privatized. New private
The document provides an overview of banks in India including:
- The first banks established in India were the presidency banks of Calcutta, Bombay, and Madras in the early 1800s.
- In 1920, these banks were merged to form the Imperial Bank of India, which was later nationalized and became the State Bank of India.
- The Reserve Bank of India was established in 1934 and acts as the central bank, regulating other banks.
- Major nationalization of banks occurred in 1969 and 1980, bringing many private banks under government ownership.
- The document lists the various functions and roles of the Reserve Bank of India, including issuing currency, overseeing other banks, and implementing monetary policy.
Banking originated in India in the early 1700s with the establishment of the Bank of Bombay in 1720 and the Bank of Hindustan in 1770. The first 'Presidency bank' was the Bank of Bengal, established in 1806. Over subsequent decades, the Bank of Bombay and Bank of Madras were also established as Presidency banks. In the early 20th century, the Imperial Bank of India was formed through the amalgamation of the Presidency banks. The Reserve Bank of India was established in 1935 to regulate the banking sector. After independence in 1947, the State Bank of India was nationalized. Further nationalization occurred in 1969 with 14 major private banks being taken over by the government.
This document provides an overview of the history and development of banking in India. It discusses 3 phases: the early phase from 1786 to 1969 which saw the establishment of the first banks but also failures; the nationalization phase from 1969 to 1991 where the government took control of private banks; and the new post-1991 phase of reforms and liberalization. It also describes the current banking structure in India including scheduled commercial banks, cooperative banks, and regional rural banks. Overall it traces the evolution of banking in India from its beginnings to the present system.
study & launch of online saving account of sbi in kathuaHs Prince
?
The document discusses a study on launching a new tech product called "online SB account" by State Bank of India (SBI). It provides details about the student and project mentor overseeing the study, background on SBI including its history and products/services. The responsibilities assigned to the student by the mentor are to help customers open online savings accounts and provide demos of the online banking system. Features of SBI's online banking platform allow customers to view accounts, make payments, apply for loans, and more securely from any internet connection.
This document provides an overview of State Bank of India (SBI), including its history, operations, subsidiaries, competitors, and awards. Some key points:
- SBI is India's largest bank by assets and has a network of over 17,000 branches across India and 180 international offices.
- It has roots dating back to 1806 and was formed by the merger and nationalization of various state-associated banks.
- In addition to traditional banking, SBI has numerous non-banking subsidiaries and five associate banks that operate under the SBI brand.
- Major competitors in the public sector space include Punjab National Bank and major private sector competitors include HDFC Bank.
- SBI has received
Introduction to Banking, Evolution of Banking, History of Banking system, Route map from traditional banking to Modern banking, Modern Banking system and its evolution, Growth of Indian Banking System
This document provides an overview of the history and operations of State Bank of India. It discusses how SBI originated from three presidency banks (Bank of Bengal, Bank of Bombay, and Bank of Madras) established in the early 19th century in India. These banks amalgamated in 1921 to form the Imperial Bank of India, which later became the State Bank of India. The document outlines SBI's key business areas including national banking, international banking, corporate banking, and treasury operations. It also provides details on SBI's management, shareholding, and the historical business activities of the original presidency banks in India.
State Bank of India (SBI) is the largest bank in India, with over 22,000 branches and over 200 million customers. SBI was formed in 1955 by the government of India after nationalizing the Imperial Bank of India. SBI traces its origins back to 1806 and three presidency banks formed during British rule in India. In 2017, SBI merged with five of its associate banks and the Bharatiya Mahila Bank to form a "mega bank" and become one of the top 50 largest banks globally by assets and deposits. SBI provides a wide range of banking and financial services both domestically in India and internationally through nearly 200 overseas offices.
The three presidency banks of Bengal, Bombay, and Madras dominated modern banking in India from their establishment in the early 1800s until their amalgamation in 1921 to form the Imperial Bank of India. The Bank of Bengal was the first joint-stock bank sponsored by the Bengal government. The three banks issued currency notes and expanded their branch networks throughout India as commercialization increased in the late 1800s. In 1921, the three presidency banks merged into the Imperial Bank of India, which took on roles as a commercial bank, banker's bank, and government banker, until the establishment of the Reserve Bank of India in 1935.
Banking in India can be traced back to the Vedic period in 2000-1400 BC, with money lending and deposit-taking evolving over time. The British brought joint-stock banking to India in the early 1700s. To modernize banking, the British established the Presidency Banks in the early 1800s. The Reserve Bank of India was established in 1935 to regulate the banking system and respond to bank failures. Banking nationalization occurred in the 1960s and 1980s.
The document provides an overview of the history and development of banking in India. It discusses the origins of banks, the establishment of early banks in India under British rule, the nationalization of banks in 1969 and 1980, the liberalization of banking in the 1990s, and lists the current types of banks operating in India. It also provides a brief history and business highlights of Andhra Pragathi Grameena Bank as of September 2010.
The banking system in India originated in the late 18th century with the establishment of banks like the Bank of Hindustan and General Bank of India. The oldest bank still in existence is the State Bank of India, formed in 1955 through the merger of presidency banks. Banking was nationalized in the 1960s and 1980s to facilitate government control over credit. Liberalization in the 1990s allowed private banks to enter and transformed the banking sector into one with strong government, private, and foreign participation. Currently, scheduled commercial banks comprise nationalized banks, SBI and its associates, private banks, foreign banks, and regional rural banks.
A Study On Comparative Analysis Of Banks Terms Of Service Quality Projectmukesh Patidar
?
This document provides an overview of the origins and history of the State Bank of India (SBI). It discusses how SBI traces its origins back to 1806 with the establishment of the Bank of Calcutta. It then details the merger of the Bank of Calcutta with the Bank of Bombay and Bank of Madras in 1921 to form the Imperial Bank of India, which later became the SBI after nationalization in 1955. The document also provides background on SBI's large branch network and role as one of the largest banks in India. It discusses the key developments in the 19th century that led to the formation of the original presidency banks that preceded the modern SBI.
Banking in India can be traced back to the Vedic period in 2000-1400 BC, with money lending and deposit-taking occurring. The modern banking system developed under British rule in the 18th century with agencies establishing the first joint-stock banks. To fulfill growing banking needs, the British established the Presidency Banks in the early 19th century. After independence, the Reserve Bank of India was established in 1935 and banks were gradually nationalized in 1969 and 1980 to promote development and access to credit across the country. Private sector banking was reopened in 1993.
This document provides an overview of the history and development of banking in India from 1786 to present day. It discusses the early foundations of banking during British rule through institutions like the Bank of Bengal and Bombay. It then covers the periods of nationalization in 1969 and 1980 when the government took control of major private banks. The document also summarizes key banking reforms since the 1990s that liberalized and opened the industry to competition through policies like universal banking and proposed amendments to banking laws.
This document provides an overview of the history of banking in India from 1786 to post-independence. It discusses the early phase of banking with the establishment of the first banks, the presidency banks, and joint stock banks. Nationalization of banks occurred in 1969 and 1980 which placed most major commercial banks under government ownership. The document also includes an annexure listing tables, charts and diagrams and outlines the contents of 5 chapters on introduction, functional areas, SWOT analysis, financial performance, and conclusion.
This document provides an overview of the history and development of banking in India. It discusses how banking originated in India in the late 18th century with the establishment of several banks. It then covers the development of banking during major historical periods in India including under British colonial rule, post-independence, and the current system. Key events discussed include the nationalization of major private banks in 1969, the establishment of state-run banks, and the Reserve Bank of India being established as the central banking authority. The document traces how the Indian banking sector has evolved from its early origins to the present day system.
AN INTRODUCTION TO INDIAN BANKING SYSTEM.pdfPoojaTrehan2
?
The document summarizes the evolution of the Indian banking system in 4 phases:
1) Evolutionary phase (pre-1947): Banking existed since ancient times but was dominated by the Imperial Bank of India. Banking was largely urban-focused.
2) Foundation phase (1947-1969): At independence, banking was entirely private sector dominated. Rural access to banking was inadequate. The State Bank of India was established in 1955 to boost rural banking.
3) Expansion phase (1969-1990): Nationalization of major banks in 1969 and 1980 increased branch network. Priority sector lending norms were introduced.
4) Liberalization phase (post-1990): Banking was deregulated and privatized. New private
The document provides an overview of banks in India including:
- The first banks established in India were the presidency banks of Calcutta, Bombay, and Madras in the early 1800s.
- In 1920, these banks were merged to form the Imperial Bank of India, which was later nationalized and became the State Bank of India.
- The Reserve Bank of India was established in 1934 and acts as the central bank, regulating other banks.
- Major nationalization of banks occurred in 1969 and 1980, bringing many private banks under government ownership.
- The document lists the various functions and roles of the Reserve Bank of India, including issuing currency, overseeing other banks, and implementing monetary policy.
Banking originated in India in the early 1700s with the establishment of the Bank of Bombay in 1720 and the Bank of Hindustan in 1770. The first 'Presidency bank' was the Bank of Bengal, established in 1806. Over subsequent decades, the Bank of Bombay and Bank of Madras were also established as Presidency banks. In the early 20th century, the Imperial Bank of India was formed through the amalgamation of the Presidency banks. The Reserve Bank of India was established in 1935 to regulate the banking sector. After independence in 1947, the State Bank of India was nationalized. Further nationalization occurred in 1969 with 14 major private banks being taken over by the government.
This document provides an overview of the history and development of banking in India. It discusses 3 phases: the early phase from 1786 to 1969 which saw the establishment of the first banks but also failures; the nationalization phase from 1969 to 1991 where the government took control of private banks; and the new post-1991 phase of reforms and liberalization. It also describes the current banking structure in India including scheduled commercial banks, cooperative banks, and regional rural banks. Overall it traces the evolution of banking in India from its beginnings to the present system.
study & launch of online saving account of sbi in kathuaHs Prince
?
The document discusses a study on launching a new tech product called "online SB account" by State Bank of India (SBI). It provides details about the student and project mentor overseeing the study, background on SBI including its history and products/services. The responsibilities assigned to the student by the mentor are to help customers open online savings accounts and provide demos of the online banking system. Features of SBI's online banking platform allow customers to view accounts, make payments, apply for loans, and more securely from any internet connection.
This document provides an overview of State Bank of India (SBI), including its history, operations, subsidiaries, competitors, and awards. Some key points:
- SBI is India's largest bank by assets and has a network of over 17,000 branches across India and 180 international offices.
- It has roots dating back to 1806 and was formed by the merger and nationalization of various state-associated banks.
- In addition to traditional banking, SBI has numerous non-banking subsidiaries and five associate banks that operate under the SBI brand.
- Major competitors in the public sector space include Punjab National Bank and major private sector competitors include HDFC Bank.
- SBI has received
Introduction to Banking, Evolution of Banking, History of Banking system, Route map from traditional banking to Modern banking, Modern Banking system and its evolution, Growth of Indian Banking System
This document provides an overview of the history and operations of State Bank of India. It discusses how SBI originated from three presidency banks (Bank of Bengal, Bank of Bombay, and Bank of Madras) established in the early 19th century in India. These banks amalgamated in 1921 to form the Imperial Bank of India, which later became the State Bank of India. The document outlines SBI's key business areas including national banking, international banking, corporate banking, and treasury operations. It also provides details on SBI's management, shareholding, and the historical business activities of the original presidency banks in India.
State Bank of India (SBI) is the largest bank in India, with over 22,000 branches and over 200 million customers. SBI was formed in 1955 by the government of India after nationalizing the Imperial Bank of India. SBI traces its origins back to 1806 and three presidency banks formed during British rule in India. In 2017, SBI merged with five of its associate banks and the Bharatiya Mahila Bank to form a "mega bank" and become one of the top 50 largest banks globally by assets and deposits. SBI provides a wide range of banking and financial services both domestically in India and internationally through nearly 200 overseas offices.
This presentation was provided by Jack McElaney of Microassist during the initial session of the NISO training series "Accessibility Essentials." Session One: The Introductory Seminar was held April 3, 2025.
How to Install Odoo 18 with Pycharm - Odoo 18 ºÝºÝߣsCeline George
?
In this slide we¡¯ll discuss the installation of odoo 18 with pycharm. Odoo 18 is a powerful business management software known for its enhanced features and ability to streamline operations. Built with Python 3.10+ for the backend and PostgreSQL as its database, it provides a reliable and efficient system.
URINE SPECIMEN COLLECTION AND HANDLING CLASS 1 FOR ALL PARAMEDICAL OR CLINICA...Prabhakar Singh Patel
?
1. Urine analysis provides important information about renal and metabolic function through physical, chemical, and microscopic examination of urine samples.
2. Proper collection, preservation and timely testing of urine samples is necessary to obtain accurate results and detect abnormalities that can indicate underlying diseases.
3.
General Quiz at Maharaja Agrasen College | Amlan Sarkar | Prelims with Answer...Amlan Sarkar
?
Prelims (with answers) + Finals of a general quiz originally conducted on 13th November, 2024.
Part of The Maharaja Quiz - the Annual Quiz Fest of Maharaja Agrasen College, University of Delhi.
Feedback welcome at amlansarkr@gmail.com
Anti-Viral Agents.pptx Medicinal Chemistry III, B Pharm SEM VISamruddhi Khonde
?
Antiviral agents are crucial in combating viral infections, causing a variety of diseases from mild to life-threatening. Developed through medicinal chemistry, these drugs target viral structures and processes while minimizing harm to host cells. Viruses are classified into DNA and RNA viruses, with each replicating through distinct mechanisms. Treatments for herpesviruses involve nucleoside analogs like acyclovir and valacyclovir, which inhibit the viral DNA polymerase. Influenza is managed with neuraminidase inhibitors like oseltamivir and zanamivir, which prevent the release of new viral particles. HIV is treated with a combination of antiretroviral drugs targeting various stages of the viral life cycle. Hepatitis B and C are treated with different strategies, with nucleoside analogs like lamivudine inhibiting viral replication and direct-acting antivirals targeting the viral RNA polymerase and other key proteins.
Antiviral agents are designed based on their mechanisms of action, with several categories including nucleoside and nucleotide analogs, protease inhibitors, neuraminidase inhibitors, reverse transcriptase inhibitors, and integrase inhibitors. The design of these agents often relies on understanding the structure-activity relationship (SAR), which involves modifying the chemical structure of compounds to enhance efficacy, selectivity, and bioavailability while reducing side effects. Despite their success, challenges such as drug resistance, viral mutation, and the need for long-term therapy remain.
All India Council of Vocational Skills (AICSVS) and National Council of Open Schooling Research and Training (NCOSRT), Global International University, Asia Book of World Records (ABWRECORDS), International a joint Accreditation Commission of Higher Education (IACOHE)The prospectus is going to be published in the year 2025
A measles outbreak originating in West Texas has been linked to confirmed cases in New Mexico, with additional cases reported in Oklahoma and Kansas. 58 individuals have required hospitalization, and 3 deaths, 2 children in Texas and 1 adult in New Mexico. These fatalities mark the first measles-related deaths in the United States since 2015 and the first pediatric measles death since 2003. The YSPH The Virtual Medical Operations Center Briefs (VMOC) were created as a service-learning project by faculty and graduate students at the Yale School of Public Health in response to the 2010 Haiti Earthquake. Each year, the VMOC Briefs are produced by students enrolled in Environmental Health Science Course 581 - Public Health Emergencies: Disaster Planning and Response. These briefs compile diverse information sources ¨C including status reports, maps, news articles, and web content¨C into a single, easily digestible document that can be widely shared and used interactively.Key features of this report include:
- Comprehensive Overview: Provides situation updates, maps, relevant news, and web resources.
- Accessibility: Designed for easy reading, wide distribution, and interactive use.
- Collaboration: The ¡°unlocked" format enables other responders to share, copy, and adapt it seamlessly.
The students learn by doing, quickly discovering how and where to find critical?information and presenting?it in an easily understood manner.??
Managing Online Signature and Payment with Odoo 17Celine George
?
Odoo Digital Signature is a feature that allows users to sign documents electronically within the Odoo platform. This functionality streamlines workflows by enabling the creation, distribution, and signing of documents digitally, reducing the need for physical paperwork and speeding up processes.
Enhancing SoTL through Generative AI -- Opportunities and Ethical Considerati...Sue Beckingham
?
This presentation explores the role of generative AI (GenAI) in enhancing the Scholarship of Teaching and Learning (SoTL), using Felten¡¯s five principles of good practice as a guiding framework. As educators within higher education institutions increasingly integrate GenAI into teaching and research, it is vital to consider how these tools can support scholarly inquiry into student learning, while remaining contextually grounded, methodologically rigorous, collaborative, and appropriately public.
Through practical examples and case-based scenarios, the session demonstrates how generative GenAI can assist in analysing critical reflection of current practice, enhancing teaching approaches and learning materials, supporting SoTL research design, fostering student partnerships, and amplifying the reach of scholarly outputs. Attendees will gain insights into ethical considerations, opportunities, and limitations of GenAI in SoTL, as well as ideas for integrating GenAI tools into their own scholarly teaching practices. The session invites critical reflection and dialogue about the responsible use of GenAI to enhance teaching, learning, and scholarly impact.
Pass SAP C_C4H47_2503 in 2025 | Latest Exam Questions & Study MaterialJenny408767
?
Pass SAP C_C4H47_2503 with expert-designed practice tests & real questions. Start preparing today with ERPPrep.com and boost your SAP Sales Cloud career!
1. BOARD OF DIRECTORS
[Print Page]
Central Board of State Bank of India
(As on 13th May 2009)
Sr. No. Name of Director Sec. of SBI Act, 1955
Shri O.P. Bhatt
1. 19(a)
Chairman
Shri S.K. Bhattacharyya
2. 19(b)
MD & CC&RO
Shri R. Sridharan
3. 19(b)
MD & GE(A&S)
4. Dr. Ashok Jhunjhunwala 19(c)
5. Shri Dileep C. Choksi 19(c)
6. Shri S. Venkatachalam 19(c)
7. Shri. D. Sundaram 19(c)
8. Dr. Deva Nand Balodhi 19(d)
9. Prof. Mohd. Salahuddin Ansari 19(d)
10. Dr.(Mrs.) Vasantha Bharucha 19(d)
11. Dr. Rajiv Kumar 19(d)
12. Shri Ashok Chawla 19(e)
13. Smt. Shyamala Gopinath 19(f)
EVOLUTION OF SBI
[Print Page]
KEY POINTS ?
Establishment
Business
Major change in
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 the conditions
Calcutta on 2 June 1806. Three years later the bank received its charter Presidency Banks
and was re-designed as the Bank of Bengal (2 January 1809). A unique Act
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 Presidency Banks
Bank of Madras (1 July 1843) followed the Bank of Bengal. These three of Bengal
banks remained at the apex of modern banking in India till their
amalgamation as the Imperial Bank of India on 27 January 1921. Imperial Bank
First Five Year
Primarily Anglo-Indian creations, the three presidency banks came into Plan
existence either as a result of the compulsions of imperial finance or by
2. 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.
Bank of Bengal H.O.
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.
Group Photogaph of Central Board (1921)
Business
The business of the banks was initially confined to discounting of bills of
3. exchange or other negotiable private securities, keeping cash accounts
and receiving deposits and issuing and circulating cash notes. Loans
were restricted to Rs.one lakh and the period of accommodation
confined to three months only. The security for such loans was public
securities, commonly called Company's Paper, bullion, treasure, plate,
jewels, or goods 'not of a perishable nature' and no interest could be
charged beyond a rate of twelve per cent. Loans against goods like
opium, indigo, salt woollens, cotton, cotton piece goods, mule twist and
silk goods were also granted but such finance by way of cash credits
gained momentum only from the third decade of the nineteenth
century. All commodities, including tea, sugar and jute, which began to
be financed later, were either pledged or hypothecated to the bank.
Demand promissory notes were signed by the borrower in favour of the
guarantor, which was in turn endorsed to the bank. Lending against
shares of the banks or on the mortgage of houses, land or other real
property was, however, forbidden.
Indians were the principal borrowers against deposit of Company's
paper, while the business of discounts on private as well as salary bills
was almost the exclusive monopoly of individuals Europeans and their
partnership firms. But the main function of the three banks, as far as
the government was concerned, was to help the latter raise loans from
time to time and also provide a degree of stability to the prices of
government securities.
Old Bank of Bengal
Major change in the conditions
A major change in the conditions of operation of the Banks of Bengal,
Bombay and Madras occurred after 1860. With the passing of the Paper
Currency Act of 1861, the right of note issue of the presidency banks
was abolished and the Government of India assumed from 1 March
1862 the sole power of issuing paper currency within British India. The
task of management and circulation of the new currency notes was
conferred on the presidency banks and the Government undertook to
transfer the Treasury balances to the banks at places where the banks
would open branches. None of the three banks had till then any
branches (except the sole attempt and that too a short-lived one by the
Bank of Bengal at Mirzapore in 1839) although the charters had given
them such authority. But as soon as the three presidency bands were
assured of the free use of government Treasury balances at places
where they would open branches, they embarked on branch expansion
at a rapid pace. By 1876, the branches, agencies and sub agencies of
the three presidency banks covered most of the major parts and many
of the inland trade centres in India. While the Bank of Bengal had
4. eighteen branches including its head office, seasonal branches and sub
agencies, the Banks of Bombay and Madras had fifteen each.
Bank of Madras Note Dated 1861 for Rs.10
Presidency Banks Act
The presidency Banks Act, which came into operation on 1 May 1876,
brought the three presidency banks under a common statute with
similar restrictions on business. The proprietary connection of the
Government was, however, terminated, though the banks continued to
hold charge of the public debt offices in the three presidency towns, and
the custody of a part of the government balances. The Act also
stipulated the creation of Reserve Treasuries at Calcutta, Bombay and
Madras into which sums above the specified minimum balances
promised to the presidency banks at only their head offices were to be
lodged. The Government could lend to the presidency banks from such
Reserve Treasuries but the latter could look upon them more as a
favour than as a right.
Bank of Madras
The decision of the Government to keep the surplus balances in Reserve
Treasuries outside the normal control of the presidency banks and the
connected decision not to guarantee minimum government balances at
new places where branches were to be opened effectively checked the
growth of new branches after 1876. The pace of expansion witnessed in
the previous decade fell sharply although, in the case of the Bank of
Madras, it continued on a modest scale as the profits of that bank were
mainly derived from trade dispersed among a number of port towns and
inland centres of the presidency.
India witnessed rapid commercialisation in the last quarter of the
nineteenth century as its railway network expanded to cover all the
major regions of the country. New irrigation networks in Madras, Punjab
and Sind accelerated the process of conversion of subsistence crops into
cash crops, a portion of which found its way into the foreign markets.
Tea and coffee plantations transformed large areas of the eastern
Terais, the hills of Assam and the Nilgiris into regions of estate
agriculture par excellence. All these resulted in the expansion of India's
international trade more than six-fold. The three presidency banks were
both beneficiaries and promoters of this commercialisation process as
they became involved in the financing of practically every trading,
5. manufacturing and mining activity in the sub-continent. While the Banks
of Bengal and Bombay were engaged in the financing of large modern
manufacturing industries, the Bank of Madras went into the financing of
large modern manufacturing industries, the Bank of Madras went into
the financing of small-scale industries in a way which had no parallel
elsewhere. But the three banks were rigorously excluded from any
business involving foreign exchange. Not only was such business
considered risky for these banks, which held government deposits, it
was also feared that these banks enjoying government patronage would
offer unfair competition to the exchange banks which had by then
arrived in India. This exclusion continued till the creation of the Reserve
Bank of India in 1935.
Bank of Bombay
Presidency Banks of Bengal
The presidency Banks of Bengal, Bombay and Madras with their 70
branches were merged in 1921 to form the Imperial Bank of India. The
triad had been transformed into a monolith and a giant among Indian
commercial banks had emerged. The new bank took on the triple role of
a commercial bank, a banker's bank and a banker to the government.
But this creation was preceded by years of deliberations on the need for
a 'State Bank of India'. What eventually emerged was a 'half-way house'
combining the functions of a commercial bank and a quasi-central bank.
The establishment of the Reserve Bank of India as the central bank of
the country in 1935 ended the quasi-central banking role of the Imperial
Bank. The latter ceased to be bankers to the Government of India and
instead became agent of the Reserve Bank for the transaction of
government business at centres at which the central bank was not
established. But it continued to maintain currency chests and small coin
depots and operate the remittance facilities scheme for other banks and
the public on terms stipulated by the Reserve Bank. It also acted as a
bankers' bank by holding their surplus cash and granting them advances
against authorised securities. The management of the bank clearing
houses also continued with it at many places where the Reserve Bank
did not have offices. The bank was also the biggest tenderer at the
Treasury bill auctions conducted by the Reserve Bank on behalf of the
Government.
The establishment of the Reserve Bank simultaneously saw important
amendments being made to the constitution of the Imperial Bank
converting it into a purely commercial bank. The earlier restrictions on
its business were removed and the bank was permitted to undertake
6. foreign exchange business and executor and trustee business for the
first time.
Imperial Bank
The Imperial Bank during the three and a half decades of its existence
recorded an impressive growth in terms of offices, reserves, deposits,
investments and advances, the increases in some cases amounting to
more than six-fold. The financial status and security inherited from its
forerunners no doubt provided a firm and durable platform. But the lofty
traditions of banking which the Imperial Bank consistently maintained
and the high standard of integrity it observed in its operations inspired
confidence in its depositors that no other bank in India could perhaps
then equal. All these enabled the Imperial Bank to acquire a pre-
eminent position in the Indian banking industry and also secure a vital
place in the country's economic life.
Stamp of Imperial Bank of India
When India attained freedom, the Imperial Bank had a capital base
(including reserves) of Rs.11.85 crores, deposits and advances of
Rs.275.14 crores and Rs.72.94 crores respectively and a network of 172
branches and more than 200 sub offices extending all over the country.
First Five Year Plan
In 1951, when the First Five Year Plan was launched, the development
of rural India was given the highest priority. The commercial banks of
the country including the Imperial Bank of India had till then confined
their operations to the urban sector and were not equipped to respond
to the emergent needs of economic regeneration of the rural areas. In
order, therefore, to serve the economy in general and the rural sector in
particular, the All India Rural Credit Survey Committee recommended
the creation of a state-partnered and state-sponsored bank by taking
over the Imperial Bank of India, and integrating with it, the former
state-owned or state-associate banks. An act was accordingly passed in
Parliament in May 1955 and the State Bank of India was constituted on
1 July 1955. More than a quarter of the resources of the Indian banking
system thus passed under the direct control of the State. Later, the
State Bank of India (Subsidiary Banks) Act was passed in 1959,
enabling the State Bank of India to take over eight former State-
associated banks as its subsidiaries (later named Associates).
The State Bank of India was thus 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
7. 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.
Home | Sitemap | FAQs | Right to Information Act 2005 | Disclaimer
This site best viewed on resolution 800 x 600 ? 2008 Copyright State
8. Volume 14, Number 2 Article by Ashok Thampy , Vivek Moorthy June, 2002
Banking on SBI: Interview with Dipankar Basu :
Dipankar Basu joined the ?big daddy? of banking, State Bank of India (SBI) in 1956 and spent
his entire professional career with SBI, serving as Chairman of the bank between 1993 and 1995.
Basu spoke to Ashok Thampy and Vivek Moorthy of IIMB on ?how the animal has changed its
characteristics?, tracing the development of SBI from its pre-Independence avatar as the Imperial
Bank of India, its period of lone splendour from 1955 till the other banks were nationalised in
1969, and the way it has risen to the challenges of the opening of the economy in the last decade.
In the first 10-15 years, SBI worked as an instrument for government policy ? rural and
agricultural credit, opening of branches in un-serviced areas, taking banking to the small-scale
industries and financing small entrepreneurs. Later on came the social programmes like IRDP
and the Prime Minister?s Rozgar Yojana, the politically designed instruments. While the bank
did reduce the ?spatial gap? in banking it lagged behind, Basu agrees, in asset creation and
providing ?other services? to customers. However, in the last 10 years, SBI has taken on the new
entrants and become a strong player in the market, playing by the market-driven rules of the
game. Basu claims that SBI has always anticipated the move towards ?universal banking?, and
he spearheaded the bank?s entry into the investment banking and mutual fund businesses ? SBI
Capital Markets and SBI Mutual Fund.
A member of the government?s Disinvestment Commission between 1996 and 1999, Basu spoke
about the privatisation process and the initiatives taken by the government, and other trends in
banking such as the increasing use of technology in retail banking and the convergence in the
financial sector.