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Chapter 3: Bank'S Profile 3.1 State Bank of India (Sbi)

State Bank of India (SBI) is the largest commercial bank in India, with over 14,000 branches nationwide. It was established in 1806 as the Bank of Bengal. SBI plays a vital role in providing financing to Indian industry and has a large rural deposit base due to its extensive branch network. The bank also has an extensive international presence through 82 overseas offices spread across 32 countries. It offers a variety of personal and commercial banking services both in India and internationally, including ATM services, telephone banking, internet banking, personal banking services, and specialized services for non-resident Indians (NRIs).

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106 views

Chapter 3: Bank'S Profile 3.1 State Bank of India (Sbi)

State Bank of India (SBI) is the largest commercial bank in India, with over 14,000 branches nationwide. It was established in 1806 as the Bank of Bengal. SBI plays a vital role in providing financing to Indian industry and has a large rural deposit base due to its extensive branch network. The bank also has an extensive international presence through 82 overseas offices spread across 32 countries. It offers a variety of personal and commercial banking services both in India and internationally, including ATM services, telephone banking, internet banking, personal banking services, and specialized services for non-resident Indians (NRIs).

Uploaded by

Priti Chavan
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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CHAPTER 3: BANK’S PROFILE

3.1 STATE BANK OF INDIA (SBI):


State Bank of India (SBI) started its business way back in 1806 as
Bank of Bengal. The bank was formed under an Act that was accordingly
passed in parliament in May 1955. SBI is the largest commercial bank in
India with more than 14000 branches all over the country. It is a colossal in
terms of balance sheet size, number of branches, market capitalization and
profits. It has the distinction of being the strongest and amongst the most
profitable bank in the country. Net worth of SBI as on March 2000 stood at
Rs. 12146 crore (US$ 2784 million) and it has a deposit base of Rs 19,680.3
crore (US$45,121 million).

SBI plays a vital role in providing working capital and term finance to
the Indian industry. Due to its large network of branches, SBI has been able
to garner a large chunk of deposits from the rural sector.

The bank has wide international presence which it runs through its
International Banking Group (IBG) that has a network of 82 overseas offices
spread over 32 countries covering all time zones and which contributes 7%
of total business for SBI. It has also got the largest overseas network. which
includes multiple locations in the US, Canada, and Nigeria. The bank has
other units devoted to capital markets, fund management, factoring and
commercial services and brokerage services. That is the reason as to why the
bank has been the largest banking institution (assets, deposits, branches and
employees) in the country.

The bank also has various other interest in the financial services arena
i.e. interest in Life insurance, Capital Markets, Cards and Factoring. Further,
87% of its business is covered under core banking solutions. The bank is
well poised to meet the country’s growing corporate, retail and infrastructure
credit demand. Its can leverage its size to fund huge investments and future
merger and acquisition deals too. The bank has also unveiled plans to raise
over Rs 50,000 crore through debt and equity over the next 3 years to tap the
growing credit opportunity in India.

The Bank is actively involved since 1973 in non-profit activity called


Community Services Banking. All the branches and administrative offices
throughout the country sponsor and participate in large number of welfare
activities and social causes

Branches

The corporate center of SBI is located in Mumbai. In order to cater to


different functions, there are several other establishments in and outside
Mumbai, apart from the corporate center. The bank boasts of having as
many as 14 local head offices and 57 Zonal Offices, located at major cities
throughout India. It is recorded that SBI has about 10000 branches, well
networked to cater to its customers throughout India.

Foreign Branches:

 Bahrain
 Bangladesh
 Belgium
 Canada
 Dubai
 France
 Germany
 Hong Kong
 Israel
 Japan
 People's Republic of China
 Republic of Maldives
 Singapore
 South Africa
 Sri Lanka
 Sultanate of Oman
 The Bahamas
 U.K.
 U.S.A
 Australia

3.2SERVICES PROVIDED BY SBI

1. ATM SERVICES:

SBI provides easy access to money to its customers through more than
8500 ATMs in India. The Bank also facilitates the free transaction of
money at the ATMs of State Bank Group, which includes the ATMs
of State Bank of India as well as the Associate Banks – State Bank of
Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Indore, etc.
You may also transact money through SBI Commercial and
International Bank Ltd by using the State Bank ATM- cum-Debit
(Cash Plus) card.

2. TELE BANKING:

It is another service offered by SBI it enable the customers to access


the bank accounts through telephone PIN (T-PIN). The customers can
call executive sitting in the call centre and ask for necessary details
typically the account number and T-PIN number is asked for several
time a recorded voice system will ask your queries. You cannot
withdraw or deposit cash through phone banking but you can ask the
account balance, status of cheque clearance and can give the
instruction for stop payment. SBI offers cash delievery or collecting to
certain class of customers. So in short phone banking is information
services.

3. INTERNET BANKING:
Internal banking is another service provided by SBI. In this type of
banking, an individual can simply sit at home and can access through
his account for various transactions. The only requirement is a PC and
internet connection. He can access through his account at just one
click. An individual can check his/her bank balance and all other
details of his bank account.
This is the latest technology introduced which saves a lot of time of its
customers. They personally need not go to the banks and stand in long
ques. Banks provide certain PIN number to its customers so as to
avoid fraud or robbery. Both account transaction and solving of
queries can be done on internet banking.

4.PERSONAL BANKING:

Personal Banking refers to all the services like Savings Account


Operations, Current Account Operations,
Provision of Personal Loans, Mortgage Loans, Home equity Loans, Credit
Card Services, ATM facilities and all other facilities that the Banks offer to
persons or individuals.

Though the phrase 'Personal Banking' contains the term 'Banking' in it, the
Personal Banking services are no longer limited within the periphery of the
Banks. Some of the major insurance companies of the world are trying to
capture the market of Personal Banking. Norwich Union, Prudential, Legal
& General are the examples of insurance companies which are making their
presence felt in the field of Personal Loans, Savings and mortgages.

As the major insurance providers are trying to curb substantial amount of the
Retail Bank’s Profits by their new ventures in the areas of Personal Banking,
the Banks have also widened their spectrum. To give tough competition to
other players of the market, Banks have started working as Investment
Managers, Insurance and Pension Providers besides offering the traditional
Personal Banking Services of providing Savings Accounts, Current
Accounts, Loans and Mortgages.
So, by widening the genre of Personal Banking, the Banks have become the
financial institutions, who can serve to any financial need of the customers.

5.NRI SERVICES:

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