SBI Celebrates 66th Foundation Day

SBI, State Bank of India, is celebrating its 66th bank day today. It was on this day, July 1, 1955, the Imperial Bank of India became the State Bank of India after the Reserve Bank of India, which is India’s central bank, acquired a controlling interest in the Imperial Bank of India. SBI is India’s premier commercial bank and played a pivotal role in shaping the country’s economy.

History of SBI

In the 19th century, three presidency banks were incorporated. The three presidency banks were the Bank of Madras (established on 2nd June 1806), the Bank of Bombay (incorporated on 15 April 1840), and the Bank of Madras (incorporated on 1 July 1843). These three presidency banks were joint-stock companies. These presidency banks were consolidated on 27 January 1921 and the new entity was named Imperial Bank of India. Even after the consolidation, it remained as the joint-stock company but without government participation. RBI in 1955 acquired a controlling interest in the Imperial Bank of India. On 1st July 1955, the imperial bank of India became the State Bank of India. To avoid any conflict of interest since RBI is the country’s banking regulatory authority, the government of India in 2008 then acquired the Reserve Bank of India’s stake in SBI.

Download SBI Clerk Prelims 2021 Memory Based Mock PDF

×

Download success!

Thanks for downloading the guide. For similar guides, free study material, quizzes, videos and job alerts you can download the Adda247 app from play store.

Thank You, Your details have been submitted we will get back to you.
Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizzes
  • Subject-Wise Quizzes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Login

OR

Forgot Password?

Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizzes
  • Subject-Wise Quizzes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Sign Up

OR
Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizzes
  • Subject-Wise Quizzes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Forgot Password

Enter the email address associated with your account, and we'll email you an OTP to verify it's you.


Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizzes
  • Subject-Wise Quizzes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Enter OTP

Please enter the OTP sent to
/6


Did not recive OTP?

Resend in 60s

Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizzes
  • Subject-Wise Quizzes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Change Password



Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizzes
  • Subject-Wise Quizzes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Almost there

Please enter your phone no. to proceed
+91

Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizzes
  • Subject-Wise Quizzes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Enter OTP

Please enter the OTP sent to Edit Number


Did not recive OTP?

Resend 60

By skipping this step you will not recieve any free content avalaible on adda247, also you will miss onto notification and job alerts

Are you sure you want to skip this step?

By skipping this step you will not recieve any free content avalaible on adda247, also you will miss onto notification and job alerts

Are you sure you want to skip this step?