About State Bank of India
State
Bank of India is the largest banking and financial services company in
India by market capitalization, revenue and assets. It is a Govt-owned
bank with its headquarters in Mumbai, Maharashtra. As of March 2012, it
had assets of US$360 billion with more than 13,500 outlets including 157
overseas branches and agents globally. The bank was earlier known as
Imperial Bank of India. Bank of Madras merged into the other two
presidency banks—Bank of Calcutta and Bank of Bombay—to form the
Imperial Bank of India, which in turn became the State Bank of India. In
1955, Government of India nationalised the Imperial Bank of India, with
the RBI taking a 60% stake, and renamed it the State Bank of India. In
2008, the Government of India took over the stake held by the RBI.