Sbi Company History Timeline

1806

The roots of the State Bank of India lie in the first decade of the 19th century, when the Bank of Calcutta later renamed the Bank of Bengal, was established on 2 June 1806.

The roots of the State Bank of India lie in the first decade of the 18th century, when the Bank of Calcutta, later renamed the Bank ofBengal, was established on 2 June 1806.

1809

Three years after that, it acquired its charter and was re-designed as Bank of Bengal in 1809.

* In 1809, it was renamed as the Bank of Bengal.

1861

These three banks received the exclusive right to issue paper currency till 1861 when, with the Paper Curren

These three banks received the exclusive right to issue paper currency till 1861 when, with the Paper Currency Act, the right was taken over by the Government of India.

1921

The Presidency banks amalgamated on 27 January 1921, and the re-organised banking entity took as its name Imperial Bank of India.

In 1921 the presidency banks were merged to form the Imperial Bank of India (IBI), which then became the largest commercial enterprise in the country.

1955

On 1 July 1955, the imperial Bank of India became the State Bank of India.

the imperial bank was renamed as STATE BANK OF INDIA on 1st July 1955.

On 1 July 1955, the Imperial Bank of India became the State Bank of India.

Pursuant to the provisions of the State Bank of India Act of 1955, the Reserve Bank of India, which is India's central bank, acquired a controlling interest in the Imperial Bank of India.

*After India’s independence, Imperial Bank of India became the State Bank of India in 1955.

Pursuant to the provisions of the State Bank of India Act of 1955, the Reserve Bank of India, which is India’s central bank, acquired a controlling interest in the Imperial Bank of India.

1959

In 1959, the government passed the State Bank of India (Subsidiary Banks) Act.

1973

Apart from banking, State Bank of India was also associated with non-profit ventures since 1973, such as Community Services Banking.

2008

In 2008 SBS merged with SBI. The very next year, State Bank of Indore (SBN) also merged.

2013

On 7 October 2013, Arundhati Bhattacharya became the first woman to be appointed Chairperson of the bank.

On October 7, 2013, Arundhati Bhattacharya became the first woman to be appointed Chairperson of the bank.”

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