Whether in a mega-city or a remote village in the Himalayas, you will find an ATM or branch of the SBI. It is the absolute backbone of the Indian banking system.
The iconic blue circle logo of SBI, with a small cut at the bottom, is said to be inspired by the Kankaria Lake in Ahmedabad. It was designed by the National Institute of Design (NID) in 1971.
SBI = State Bank of India
It is the largest public sector bank (government bank) in India, headquartered in Mumbai. It commands over a quarter of the market share of the Indian banking sector.
SBI is the oldest commercial bank in the Indian subcontinent. Its roots trace back to the British era.
Historically, SBI had several associate banks (like State Bank of Bikaner & Jaipur, State Bank of Mysore, State Bank of Patiala, etc.). In a massive financial move in 2017, all five associate banks and the Bharatiya Mahila Bank were merged directly into SBI, making it a global banking giant.
Like all commercial banks in India, the SBI is regulated by the **Reserve Bank of India (RBI)**, which is the central bank of the country.
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