State Bank of India

State Bank of India State Bank of India (SBI) is India\'s largest bank by profits, assets, deposits, branches and employees - a position it is holding for two centuries now. The government of India controls the bank through the majority stake (nearly 60% as on March 31, 2007) held in it by Reserve Bank of India. The central bank is in the process of transferring this stake to the direct control of the government of India. SBI has a hoary past, starting two centuries ago in Kolkata as Bank of Calcutta on June 2, 1806. Since then it has undergone various transformations. It was re-named Bank of Bengal in 1809. Bank of Bengal was merged with Bank of Bombay and Bank of Madras in 1921 to form Imperial Bank of India. This was converted into the present State Bank of India in 1955 through a special Act of the government of India in 1955. In 1959, SBI took over eight banks which were formerly associated with states of pre-independence India. These banks - State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Indore, State Bank of Mysore, State Bank of Patiala, State Bank of Saurashtra and State Bank of Travancore - later came to be known as Associate banks of SBI. At the time of India\'s independence in 1947, SBI (then Imperial Bank) had a capital base of Rs11.85 crore, deposits and advances of Rs.275.14 crore and Rs.72.94 crore respectively and a network of 172 branches. Now (March 30, 2007) SBI has a capital base is Rs 526 crore, deposits of Rs 435,521 crore (Rs 4.35 lakh crore or aprox. $ 101 billion) and advances are Rs 342,232 crore (Rs 3.42 lakh crore or approx. $80 billion ). SBI now has a branch network in excess of 10,000. Retail Loans: SBI is active in all segments of retails loans (home loan, personal loan, car loan, education loan, credit card) and its exposure to retail loans has been growing faster since 2000. As on March 31, 2007, SBI has Rs 73,596 crore exposure to retail loans, of which more than 50% is towards housing loans. SBI home loan size is Rs 37,975 crore.

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