Sbi Nationalised In Which Year

The article discusses the nationalization of SBI and provides information on the year in which it took place. The details about this event will be presented without any personal comments or thoughts.

When was SBI nationalized?

A stamp commemorating the State Bank of India was issued in the year 2005.

The origins of the State Bank of India can be traced back to the early 1800s when it was established as the Bank of Bengal in June 1806. Alongside two other Presidency banks, namely the Bank of Bombay and the Bank of Madras, they were incorporated and granted exclusive rights to issue paper currency until 1861. However, with the Paper Currency Act, this right was transferred to the Government of India. In January 1921, these three banks merged to form a reorganized entity known as The Imperial Bank of India. Although it remained a joint-stock company without government involvement.

In accordance with the State Bank of India Act passed in 1955, the government obtained a majority stake in the Imperial Bank of India and renamed it as the State Bank of India on July 1, 1955. To eliminate any conflicts of interest due to its role as the banking regulatory authority, the Reserve Bank of India transferred its ownership in SBI to the government in 2008.

The government enacted the State Bank of India (Subsidiary Banks) Act in 1959, leading to the incorporation of eight banks as subsidiaries under SBI. This occurred during the implementation of the First Five-Year Plan, which aimed to prioritize rural development in India. By integrating these banks into the State Bank of India system, it enabled an expansion of its services and outreach in rural areas. Additionally, SBI merged with two other banks, namely the State Bank of Jaipur (established in 1943) and State Bank of Bikaner (established in 1944), further strengthening its operations.

SBI has taken over local banks through rescues. The initial one was the Bank of Bihar, established in 1911, which SBI acquired in 1969 along with its 28 branches. In the following year, SBI also acquired the National Bank of Lahore, founded in 1942 and having 24 branches. Another acquisition took place in 1975 when SBI obtained Krishnaram Baldeo Bank that had been established by Maharaja as a small moneylender known as Dukan Pichadi. Jall N. Broacha became the first manager of this newly acquired bank. Additionally, in 1985, SBI acquired the Bank of Cochin with its extensive network of 120 branches since its affiliate already had a strong presence in Kerala.

The logo of the State Bank of India was created by NID in the year 1971.

There was a suggestion to combine all the associate banks with SBI in order to establish a single, significantly larger bank and enhance operational efficiency.

On 13 August 2008, there was a significant development in the unification process as SBI merged with another bank, resulting in the reduction of associate state banks from seven to six. Later, on 19 June 2009, the SBI board gave its approval for absorbing another bank where SBI held a majority stake of 98.3%. The remaining shares were held by individuals who owned them before the government takeover and accounted for only 1.7% of the total shares.

The acquisition of State Bank of Indore added 470 branches to SBI’s existing network of branches. Also, following the acquisition, SBI’s total assets approached ₹ 10 trillion. The total assets of SBI and the were ₹ 9,981,190 million as of March 2009. The process of merging of State Bank of Indore was completed by April 2010, and the SBIndore branches started functioning as SBI branches on 26 August 2010.

Mrs. Bhattacharya made history on 7 October 2013 by becoming the first female chairperson of the bank. She was granted a two-year extension to oversee the merger of the five remaining associate banks into SBI.

In February 2024, the State Bank of India initiated a collaboration with Flywire Corporation to enhance transparency in student fee payments and compliance with the Liberalised Remittance Scheme (LRS).

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Administrative Offices and Branches

SBI offers a wide range of banking services through its branches in India and abroad, including specialized products for NRIs. In terms of domestic banking operations, SBI has 17 regional hubs called local head offices (LHOs), which oversee 57 administrative offices (AOs) located in important cities across India. These AOs further supervise regional business offices (RBOs), each responsible for around 40 to 50 branches under their direct control.


According to the official website of SBI, it has a total of 22,405 branches across India. In the fiscal year 2012-13, its revenue amounted to ₹2.005 trillion (US$25 billion), with 95.35% generated from domestic operations. Likewise, domestic operations accounted for 88.37% of the overall profits during that financial year.

As part of the financial inclusion initiative introduced by the Government in August 2014, SBI organized 11,300 camps and successfully established more than 3 million accounts by September. These accounts comprised of approximately 2.1 million in rural regions and around 1.57 million in urban areas.


In the fiscal year 2014-15, SBI had a significant global presence with 191 branch offices in 36 countries, making it one of the Indian banks with the largest reach in international markets.

SBI Australia, SBI Bangladesh, SBI Bahrain, and SBI China are some of the international subsidiaries of State Bank of India. In 2006, SBI Botswana was registered as a subsidiary and obtained its banking license in 2013 but later closed its operations. SBI Canada Bank is a Canadian subsidiary incorporated in 1982 and operates under the Bank Act. Additionally, in 1989, State Bank of India established an offshore bank known as SBI (Mauritius) Ltd which now has several branches in Mauritius. Nepal also has a subsidiary called Nepal SBI Bank Limited under the State Bank of India.

SBI holds a majority stake of 55% in Nepal, while the state-owned Employees Provident Fund of Nepal has a 15% share and the general public owns the remaining 30%. Nepal SBI Bank Limited operates branches across the nation.

SBI Sri Lanka currently operates three branches situated in various locations. The Jaffna branch was established on 9th September 2013. SBI Sri Lanka holds the distinction of being the oldest bank in the country, having been established back in 1864.

In India, SBI operates as INMB Bank. This bank was established in 1981 under the name Indo-Nigerian Merchant Bank and obtained authorization in 2002 to start offering retail banking services. Currently, it has a presence with five branches across Nigeria.

In Moscow, SBI holds a majority stake of 60% in , while the remaining ownership is held by . In Indonesia, SBI has a controlling stake of 76% in PT Bank Indo Monex. The State Bank of India already operates a branch in Shanghai and has intentions to establish another one in the future.

In India, the State Bank of India was nationalized in a particular year.

SBI established its inaugural branch in South Korea in January 2016.

In the year 1982, SBI established a subsidiary that currently operates ten branches. These branches are spread across California and Washington, D.C., with the most recent branch opening in Fremont, California on 28 March 2011. The other eight branches in California can be found in Los Angeles, Artesia, San Jose, Canoga Park, Fresno, San Diego, Tustin and Bakersfield.

SBI Nationalization Year

SBI acquired the control of seven banks in 1960. They were the seven regional banks of former Indian princely states. They were renamed, prefixing them with ‘State Bank of’. These seven banks were (SBBJ), (SBH), (SBN), (SBM), (SBP), (SBS) and (SBT). All these banks were given the same logo as the parent bank, SBI. State Bank of India and all its associate banks used the same blue Keyhole logo said to have been inspired by ‘s. The State Bank of India usually had one standard typeface, but also utilised other typefaces. The wordmark now has the keyhole logo followed by “SBI”.

The process of merging the associate banks with SBI to create a single large bank began in 2008. In September of that year, SBS merged with SBI, followed by the merger of State Bank of Indore (SBN) in the following year.

After going through a merger process, the remaining five associate banks (namely A, B, C, D, and E) along with Bharatiya Mahila Bank were granted initial approval by the Union Cabinet on 15 June 2016 to merge with SBI. This decision was made one month after the SBI board had already approved a proposal to merge its five associate banks and Bharatiya Mahila Bank.

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The merger of five associate banks with SBI was approved by the Union Cabinet on 15 February 2017. A financial expert predicted that there might be some initial drawbacks due to variations in pension liabilities and accounting practices for non-performing loans. The merger officially took place on 1 April 2017.

Year of Nationalisation of SBI

In addition to merging with five of its associate banks on 1 April 2017, SBI also has non-banking subsidiaries.

The abbreviation “Ltd” stands for limited. SBICPSL refers to SBI Card & Payments Services Pvt. Ltd., a company related to State Bank of India (SBI).

SBI Nationalization Date

By the end of March 2017, the SBI group possessed a total of 59,291 ATMs. From November 2017 onwards, SBI introduced a comprehensive platform called…


In March 2020, the State Bank of India obtained a majority stake of 48.2% in accordance with a rescue plan directed by the Reserve Bank of India.

SBI Nationalization Year: Listings and Shareholding

As of December 2023, the Indian government owned approximately 57.49% of the equity shares in SBI. The bank, which is also state-owned, holds a significant stake of 9.02% as the largest non-promoter shareholder in the company.

The ownership of SBI is divided among various shareholders. The Government of India holds the majority stake at 57.49%. Other shareholders include FIIs/GDRs/OCBs/NRIs with a shareholding of 10.36%, banks and insurance companies with 9.02%, mutual funds and UTI with 11.75%, and others with 11.38%. Collectively, these shareholders make up the total ownership of SBI, which amounts to 100%.

The equity shares of SBI are listed on the , where it is a constituent of the index, and the , where it is a constituent of the. Its (GDRs) are listed on the.

Nationalisation of 14 banks in which year?

By nationalising these banks, the Indian government sought to address various issues prevalent at that time. It aimed to promote financial inclusion by expanding banking services across different regions and sections of society. Additionally, it intended to prioritize lending towards sectors crucial for economic development such as agriculture, small-scale industries, and infrastructure projects.

Year of Nationalization of SBI

The State Bank Institute of Credit and Risk Management, located in Gurugram, is an educational institution that focuses on providing training and knowledge related to credit and risk management. It offers courses and programs aimed at enhancing the skills of individuals in these areas.

SBI, being one of the largest employers globally, had a workforce of 245,652 employees by the end of March 2021. Women constituted approximately 26% of the total employee count. On that same date, officers accounted for 44.28% of the staff, while associates and subordinate staff made up 41.03% and 14.69%, respectively. During FY 2020-21, each employee contributed ₹828,350 (US$10,000) towards net profit for SBI.

Inception of SBI in India

With this new development, individuals and businesses would now have access to a bank that is directly controlled by the state. The State Bank of India could provide various services such as loans, savings accounts, and other financial products. This increased accessibility would benefit people across different regions in India who previously had limited options for reliable banking services.

Philanthropic Arm

The State Bank of India has established the SBI Foundation, a charitable organization that works to support various development projects in India. The foundation also collaborates with initiatives approved by the Ministry of Corporate Affairs.

Nationalisation of 6 banks: Year-wise details

In the year 1980, the Indian government took control of six banks and made them nationalized. This means that these banks were no longer privately owned but became a part of the government. The six banks that were nationalized in 1980 are Punjab and Vijaya Bank Limited, Sind Bank Limited, New Bank of India Limited, Andhra Bank Limited, Oriental Bank of Commerce Limited, and Corporation Bank Limited.

Before they were nationalized, these banks operated as private entities with their own owners or shareholders who had control over their operations. However, by nationalizing them, the government gained ownership and control over these banks. This move was aimed at bringing stability to the banking sector and ensuring that financial services reach all sections of society.

Nationalization meant that these six banks now came under the direct supervision and regulation of the Reserve Bank of India (RBI) which is responsible for overseeing all banking activities in India. It also meant that decisions regarding lending practices, interest rates on loans and deposits would be influenced by government policies rather than solely driven by profit-making motives.

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Overall, this step taken by the Indian government in 1980 aimed to strengthen public trust in banking institutions while promoting financial inclusion across various regions of India. Nationalization helped ensure better access to banking services for people from different socio-economic backgrounds throughout the country.


State Bank of India branches and ATMs

  • SBI FL Gomes Road Branch, ,
  • SBI Mysore Branch, ,
  • SBI Siddipet Branch ,
  • SBI Rura Branch, ,
  • SBI Hudkeshwar Branch, ,

more images can be found on.

Is HDFC Bank a government-owned bank in India?

HDFC Bank is a prominent private sector bank recognized for its strong financial performance. The bank provides an extensive array of banking and financial services to customers in the retail, corporate, and institutional sectors.

In India, HDFC Bank offers the following services:

1. Retail Banking: HDFC Bank caters to individual customers by providing various retail banking services such as savings accounts, current accounts, fixed deposits, loans (including home loans and personal loans), credit cards, and insurance products.

2. Corporate Banking: The bank serves corporate clients by offering customized solutions including working capital finance, trade finance services like letters of credit and guarantees, cash management services, foreign exchange transactions, treasury operations support,and other specialized products tailored to meet their specific needs.

3. Institutional Banking: HDFC Bank also caters to institutional clients such as government bodies,political parties,charitable organizations,hospitals,schools,colleges etc.,providing them with a wide range of banking facilities including deposit accounts,cash management solutions,fund transfers,and other financial instruments designed specifically for institutions.

Overall,HDFC Bank is renowned for its strong financial track record and diverse range of banking and financial offerings that cater to the needs of individuals,businesses,and institutions across India

When was the nationalization of SBI?

State Bank of India, commonly known as SBI, is a nationalized bank in India. It was established in the past and has certain business data associated with it.

Is SBI a government-owned bank?

In India, the Imperial Bank, which was the leading commercial bank at that time, was nationalized on 1 July 1955. This step was taken to establish the State Bank of India as a result of the nationalization process.

Why SBI is not a government-owned bank?

The State Bank of India is not included in the list of nationalized banks because it has always been under the control of the government. Therefore, there was never a need to nationalize it.

In India, the following banks have been nationalized:

1. Allahabad Bank – Nationalized in 1969.

2. Andhra Bank – Nationalized in 1980.

3. Bank of Baroda – Nationalized in 1969.

4. Bank of India – Nationalized in 1969.

5. Canara Bank – Nationalized in 1969.

6. Central Bank of India – Nationalized in 1969.

7. Corporation Bank – Nationalized in 1980.

8. Dena Bank – Nationalized in 1969 (merged with Vijaya and BoB).

9. Indian Overseas Bank- Natioanlised on July19th,1970

10.Punjab & Sind bank-Nationalised on April15th ,1980

These are just a few examples; there are several other banks that were also nationalized during different years as part of government initiatives to bring them under public ownership and control for better regulation and development purposes

Is SBI or PNB the older one?

The State Bank of India (SBI) holds the distinction of being the oldest bank in India. Its roots can be traced back to 1806 when it was initially established as the Bank of Calcutta. Over time, the bank underwent several transformations and name changes before finally becoming known as SBI.

In its early years, the Bank of Calcutta primarily catered to British merchants and served as a means for them to conduct financial transactions in colonial India. As trade and commerce flourished during this period, there arose a need for a reliable banking institution that could facilitate these activities effectively.

With changing times and evolving needs, the Bank of Calcutta transformed into the Bank of Bengal in 1809. This change aimed at expanding its operations beyond just Calcutta (now Kolkata) and establishing a stronger presence across other major cities in British-ruled India.

As years went by, further mergers took place between various banks across different regions under British rule. In 1921, three presidency banks – The Bank of Bengal, The Bank of Bombay, and The Bank of Madras – merged together to form what is now known as SBI.