State Bank of India explained

State Bank of India
Image Alt:SBI Headquarters
Type:Public
Foundation:
State Bank of India----
Industry:Banking, financial services
Num Locations:India:
22,542 Branches
63,580 ATMs
International:
241 Branches in 29 countries
Area Served:Worldwide
Revenue: [1]
Revenue Year:2024
Income Year:2023
Net Income Year:2024
Assets Year:2024
Equity Year:2024
Parent:Ministry of Finance
(Government of India (57.54%))
Members:50 crores+ [2]
Num Employees:2,32,296 (31 March 2024)[3]
Website:

Ratio:Tier 1 14.28%(2024)[4]
Rating:
  • S&P BBB− / A-3/ Stable
  • Moody's Baa3/ P-3/ Stable
  • Fitch BBB− / F-3/ Stable[5]
Location:State Bank Bhawan, M.C. Road, Nariman Point, Mumbai, Maharashtra, India
Footnotes:[6] [7] [8]

State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra. It is the 48th largest bank in the world by total assets and ranked 178th in the Fortune Global 500 list of the world's biggest corporations of 2024, being the only Indian bank on the list.[9] It is a public sector bank and the largest bank in India[10] with a 23% market share by assets and a 25% share of the total loan and deposits market.[11] It is also the tenth largest employer in India with nearly 250,000 employees.[12] [13] [14] In 2024, the company’s seat in Forbes Global 2000 was 55.[15]

On 14 September 2022, State Bank of India became the third lender (after HDFC Bank and ICICI Bank) and the seventh Indian company to cross the 5 trillion market capitalization on the Indian stock exchanges for the first time.[16] The largest public lender in the country reached a milestone in April 2024, when its market capitalization surpassed ₹7 trillion, making it the second public sector undertaking (PSU) to do so, after Life Insurance Corporation of India.[17] The Reserve Bank of India (RBI) has identified SBI, HDFC Bank, and ICICI Bank as Domestic Systemically Important Banks (D-SIBs), which are often referred to as banks that are “too big to fail”.[18] [19]

The bank descends from the Bank of Calcutta, founded in 1806 via the Imperial Bank of India, making it the oldest commercial bank in the Indian subcontinent. The Bank of Madras merged into the other two presidency banks in British India, the Bank of Calcutta and the Bank of Bombay, to form the Imperial Bank of India, which in turn became the State Bank of India on July 1, 1955.[20] Overall the bank has been formed from the merger and acquisition of more than twenty banks over the course of its 200-year history.[21] [22] The Government of India took control of the Imperial Bank of India in 1955, with Reserve Bank of India (India's central bank) taking a 60% stake, renaming it State Bank of India.

On 16 August 2022, in an attempt to facilitate and support India's start-ups, SBI announced the launch of its first "state-of-the-art" dedicated branch for start-ups in Bengaluru.[23]

History

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 Bank of Bengal was one of three Presidency banks, the other two being the Bank of Bombay (incorporated on 15 April 1840) and the Bank of Madras (incorporated on 1 July 1843). All three Presidency banks were incorporated as joint stock companies and were the result of royal charters. 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. The Presidency banks amalgamated on 27 January 1921, and the re-organised banking entity took as its name Imperial Bank of India. The Imperial Bank of India remained a joint-stock company but without Government participation.

Under 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. On 1 July 1955, the Imperial Bank of India became the State Bank of India. In 2008, the Government of India acquired the Reserve Bank of India's stake in SBI to remove any conflict of interest because the RBI is the country's banking regulatory authority.

In 1959, the government passed the State Bank of India (Subsidiary Banks) Act. This made eight banks that had belonged to princely states into subsidiaries of SBI. This was at the time of the First Five-Year Plan, which prioritised the development of rural India. The government integrated these banks into the State Bank of India system to expand its rural outreach. In 1963 SBI merged the State Bank of Jaipur (est. 1943) and State Bank of Bikaner (est.1944).

SBI has acquired local banks in rescues. The first was the Bank of Bihar (est. 1911), which SBI acquired in 1969, together with its 28 branches. The next year SBI acquired the National Bank of Lahore (est. 1942), which had 24 branches. Five years later, in 1975, SBI acquired Krishnaram Baldeo Bank, which had been established in 1916 in Gwalior State, under the patronage of Maharaja Madho Rao Scindia. The bank had been the Dukan Pichadi, a small moneylender, owned by the Maharaja. The new bank's first manager was Jall N. Broacha. In 1985, SBI acquired the Bank of Cochin in Kerala, which had 120 branches. SBI was the acquirer as its affiliate, the State Bank of Travancore, already had an extensive network in Kerala.National Institute of Design, Ahmedabad designed the SBI logo in 1971.[24]

There was, even before it happened, a proposal to merge all the associate banks into SBI to create a single very large bank and streamline operations.[25]

The first step towards unification occurred on 13 August 2008 when State Bank of Saurashtra merged with SBI, reducing the number of associate state banks from seven to six. On 19 June 2009, the SBI board approved the absorption of State Bank of Indore, in which SBI held 98.3%. (Individuals who held the shares before their takeover by the government held the balance of 1.7%.)[26]

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 lakh crore. The total assets of SBI and the State Bank of Indore were 9.98 lakh crore 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.[27]

On 7 October 2013, Arundhati Bhattacharya became the first woman to be appointed chairperson of the bank.[28] Mrs. Bhattacharya received an extension of two years of service to merge into SBI the five remaining associate banks.

In February 2024, State Bank of India began a partnership with Flywire Corporation to make student fees and compliance with the Reserve Bank of India’s Liberalised Remittance Scheme (LRS) more transparent.[29]

Administrative Offices and Branches

SBI provides a range of banking products through its network of branches in India and overseas, including products aimed at non-resident Indians (NRIs). Concerning domestic banking business, SBI has 17 regional hubs known as local head offices (LHOs), under whom are 57 administrative offices (AOs), that are located in important cities throughout India, under whom are furthermore administrative sub-offices known as regional business offices (RBOs), with each RBO having, under its direct administrative control, some 40 to 50 branches.

Domestic

As per SBI Official website data, SBI has 22,405 branches in India.[30] [31] In the financial year 2012–13, its revenue was, 95.35% of which came from domestic operations. Similarly, domestic operations contributed to 88.37% of total profits for the same financial year.

Under the Pradhan Mantri Jan Dhan Yojana of financial inclusion launched by Government in August 2014, SBI held 11,300 camps and opened over 30 lakh (3 million) accounts by September, which included 21 lakh (2.1 million) accounts in rural areas and 15.7 lakh (1.57 million) accounts in urban areas.[32]

International

As of 2014–15, the bank had 191 overseas offices spread over 36 countries having the largest presence in foreign markets among Indian banks.[33]

See main article: Nepal SBI Bank Limited. In Nepal, SBI owns 55% of the share. (The state-owned Employees Provident Fund of Nepal owns 15% and the general public owns the remaining 30%.) Nepal SBI Bank Limited has branches throughout the country.

In Nigeria, SBI operates as INMB Bank. This bank began in 1981 as the Indo–Nigerian Merchant Bank and received permission in 2002 to commence retail banking. It now has five branches in Nigeria.

In Moscow, SBI owns 60% of Commercial Bank of India, with Canara Bank owning the rest. In Indonesia, it owns 76% of PT Bank Indo Monex. State Bank of India already has a branch in Shanghai and plans to open one in Tianjin.[42]

In Kenya, State Bank of India owns 76% of Giro Commercial Bank, which it acquired for 8 million in October 2005.[43]

SBI South Korea In January 2016, SBI opened its first branch in Seoul, South Korea.

SBI South Africa

SBI UK Ltd[44]

SBI USAIn 1982, the bank established a subsidiary, State Bank of India, which now has ten branches—nine branches in the state of California and one in Washington, D.C. The 10th branch was opened in Fremont, California on 28 March 2011. The other eight branches in California are located in Los Angeles, Artesia, San Jose, Canoga Park, Fresno, San Diego, Tustin and Bakersfield.

Former Associate Banks

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 State Bank of Bikaner and Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of Indore (SBN), State Bank of Mysore (SBM), State Bank of Patiala (SBP), State Bank of Saurashtra (SBS) and State Bank of Travancore (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 Ahmedabad's Kankaria Lake.[45] The State Bank of India wordmark usually had one standard typeface, but also utilised other typefaces. The wordmark now has the keyhole logo followed by "SBI".

The plans for making SBI a single very large bank by merging the associate banks started in 2008, and in September of the same year, SBS merged with SBI. The very next year, the State Bank of Indore (SBN) also merged.

Following a merger process,[46] [47] the merger of the 5 remaining associate banks, (viz. State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore); and the Bharatiya Mahila Bank) with the SBI was given an in-principle approval by the Union Cabinet on 15 June 2016.[48] This came a month after the SBI board had, on 17 May 2016, cleared a proposal to merge its five associate banks and Bharatiya Mahila Bank with itself.[49]

On 15 February 2017, the Union Cabinet approved the merger of five associate banks with SBI.[50] An analyst foresaw an initial negative impact as a result of different pension liability provisions and accounting policies for bad loans.[51] [52] The merger went into effect from 1 April 2017.[53]

Non-banking subsidiaries

Apart from five of its associate banks (merged with SBI on 1 April 2017), SBI's non-banking subsidiaries include:

In March 2001, SBI (with 74% of the total capital), joined with BNP Paribas (with 26% of the remaining capital), to form a joint venture life insurance company named SBI Life Insurance Company Ltd.

Other SBI service points

As of July 2023, the SBI group had 65,627 ATMs.[54] Since November 2017, SBI also offers an integrated digital banking platform named YONO.

Yes Bank Investment

In March 2020, as part of an RBI-directed rescue deal, the State Bank of India acquired 48.2% of the shares of Yes Bank.[55] As of 8 February 2024, the shareholding has decreased to 26.13%.[56]

Listings and shareholding

As of June 2024,[57] the Government of India held around 57.54% equity shares in SBI. The Life Insurance Corporation of India, itself state-owned, is the largest non-promoter shareholder in the company with 9.02% shareholding.[58]

Shareholders Shareholding
Promoters: Government of India 56.92%
FIIs/GDRs/OCBs/NRIs 12.35%
Banks & Insurance Companies 11.78%
Mutual Funds & UTI 11.96%
Others 6.37%
Total 100.0%

The equity shares of SBI are listed on the Bombay Stock Exchange,[59] where it is a constituent of the BSE SENSEX index,[60] and the National Stock Exchange of India,[61] where it is a constituent of the CNX Nifty.[62] Its Global Depository Receipts (GDRs) are listed on the London Stock Exchange.[63]

Employees

See main article: List of chairmen of the State Bank of India. SBI is one of the largest employers in the world with 232,296 employees as of 31 March 2024. Out of the total workforce, the representation of women employees is nearly 27%. The percentage of Officers, Associates, and Subordinate staff was 47.4%, 38.4%, and 12.77% respectively on the same date. Each employee contributed a net profit of during FY 2023-24.[64]

Philanthropic Arm

State Bank of India maintains a philanthropic arm in the name of SBI Foundation which is involved to support development initiatives in India and also with initiatives that comply under the Ministry of Corporate Affairs under Corporate Social Responsibility. [65] [66]

See also

Further reading

Notes and References

  1. Web site: Annual Report 2022-23 of State Bank of India. 18 July 2022. https://web.archive.org/web/20190718084418/https://www.sbi.co.in/portal/documents/41076/60023/SBI%2BAR%2B2019.pdf/1df935b3-aa03-497d-8c24-0cbfbc07d496. 18 July 2019. live.
  2. Web site: SBI customer base.
  3. News: Ghosh . Shayan . 14 May 2024 . SBI Reduced it's Headcount by 25,000 in five years . 15 May 2024.
  4. Web site: PILLAR 3 DISCLOSURES (CONSOLIDATED) AS ON 31.12.2022. bank.sbi.
  5. Web site: Bank Ratings - Investor Relations .
  6. Web site: State Bank of India Consolidated Yearly Results, State Bank of India Financial Statement & Accounts. moneycontrol.com. 26 June 2017. https://web.archive.org/web/20170702112648/http://www.moneycontrol.com/financials/sbi/results/consolidated-yearly/SBI. 2 July 2017. live.
  7. Web site: State Bank of India Yearly Results, State Bank of India Financial Statement & Accounts. moneycontrol.com. 26 June 2017. https://web.archive.org/web/20170720025818/http://www.moneycontrol.com/financials/sbi/results/yearly/SBI. 20 July 2017. live.
  8. Web site: From Imperial Bank to State Bank. 28 June 2017. https://web.archive.org/web/20131030040112/http://rbidocs.rbi.org.in/rdocs/content/PDFs/90028.pdf. 30 October 2013. live.
  9. News: Fortune Global 50 list . 16 January 2021 .
  10. Web site: SBI joins Rs 7-trillion market cap club; stock surges 26% in three months. 14 September 2022 .
  11. News: Away from the public gaze, State Bank of India is preparing to unleash a revolution . 22 May 2018 . https://web.archive.org/web/20180522044243/https://economictimes.indiatimes.com/industry/banking/finance/banking/how-indian-financial-services-players-are-coming-to-terms-with-technological-changes/articleshow/64184172.cms . 22 May 2018 . live .
  12. Web site: These Are the Biggest Employers in India. 15 December 2016.
  13. Web site: India's eight biggest employers.
  14. Web site: Top Companies in India: Top Companies in India by Employee Cost, Top BSE Companies by Employee Cost, Top BSE Companies.
  15. Web site: en. The Global 2000 2023. Forbes. 2024-02-07. 2024-01-29. https://web.archive.org/web/20240129031905/https://www.forbes.com/lists/global2000/?sh=4f5ab07e5ac0.
  16. Web site: SBI becomes third Indian lender to surpass Rs 7 trillion market cap. 14 September 2022. Moneycontrol.
  17. News: SBI MCap Tops ₹6 Lakh Cr .
  18. Web site: Reserve Bank of India - Publications .
  19. Web site: Reserve Bank of India - Press Releases .
  20. Book: Rajesh . Banking Theory Law N Practice . 2009 . Tata McGraw-Hill Education . 8 . 978-0-07-009123-8. 4 November 2014.
  21. Web site: From Imperial Bank to State Bank . 11 September 2023 . rbidocs.rbi.org.in.
  22. Web site: The State Bank Of India (Subsidiary Banks) Act, 1959 . 11 September 2023 . Indian Kanoon.
  23. Web site: Livemint . 2022-08-16 . Bengaluru: SBI launches its first dedicated branch for start-ups. Details here . 2022-08-18 . mint . en.
  24. Web site: 2016-06-17 . From banyan tree to keyhole: NID designed the new iconic logo for SBI . 2022-06-09 . www.thehindubusinessline.com . en.
  25. Web site: Indian Banks' Association . Iba.org.in . 23 April 2005 . 21 December 2010 . https://web.archive.org/web/20110721180611/http://www.iba.org.in/viewmembanks.asp?id=2 . 21 July 2011 . live .
  26. Web site: Approvals for State Bank of Indore merger by July: SBI . 21 June 2010 . Business Standard . 28 June 2010 . https://web.archive.org/web/20110708170155/http://www.cmlinks.com/sbi/NewsText.asp?Code=1375&period=1001&srno=9172002038 . 8 July 2011 . live .
  27. News: State Bank of Indore branches to become SBI units from Aug 26 : SBI . 26 August 2010 . The Economic Times . 26 August 2010 . https://web.archive.org/web/20161008235522/http://economictimes.indiatimes.com/Banking/articleshow/6434466.cms . 8 October 2016 . live .
  28. News: Arundhati Bhattacharya, the first woman to head SBI . The Hindu. 7 October 2013. 8 October 2013 . https://web.archive.org/web/20131203004545/http://www.thehindu.com/business/Industry/arundhati-bhattacharya-first-woman-to-head-sbi/article5210836.ece?homepage=true . 3 December 2013 . live .
  29. Web site: en. SBI ties up with Flywire to make payments easier for foreign students. CNBC. 7 February 2024 . 2024-02-27. 2024-02-28. https://web.archive.org/web/20240228031613/https://www.cnbctv18.com/finance/sbi-ties-up-with-flywire-to-make-payments-easier-for-foreign-students-18993041.htm.
  30. News: Fortune 'Global 500' 2016:State Bank of India . 10 October 2016 . CNN . https://web.archive.org/web/20160925110128/http://beta.fortune.com/global500/state-bank-of-india-232 . 25 September 2016 . live .
  31. Web site: 2024-02-03 . SBI Reports a 35 Percent Decline in Net Profit for Q3 2024 . 2024-02-03 . en-US.
  32. News: SBI takes lead in opening bank accounts under Jan Dhan Yojana . The Economic Times . 11 September 2014 . 30 September 2014 . https://web.archive.org/web/20140921052222/http://economictimes.indiatimes.com/industry/banking/finance/banking/sbi-takes-lead-in-opening-bank-accounts-under-jan-dhan-yojana/articleshow/42287996.cms . 21 September 2014 . live .
  33. Web site: SBI Annual Report 2014–15. 14 January 2016. State Bank of India. https://web.archive.org/web/20151126225359/http://www.sbi.co.in/portal/documents/41076/10365480/State+Bank+of+India+-+unabridged+Annual+Report+2014-15-English.pdf/abc0ab55-a749-4c95-ac67-baa8b9d86606. 26 November 2015. live.
  34. Web site: About SBI Australia – SBI – Australia . aus.statebank . 29 March 2021.
  35. Web site: About SBI Bangladesh – SBI – Bangladesh . bd.statebank . 29 March 2021.
  36. Web site: Home - SBI - Bahrain. 2021-12-27. bh.statebank.
  37. Web site: 1 April 2021. Surrender Of A License To Transact Banking Business. 22 August 2021. Bank of Botswana.
  38. Web site: About SBI Canada – SBI Canada Bank . ca.statebank . 29 March 2021.
  39. Web site: About SBI China – SBI – China . cn.statebank . 21 May 2021.
  40. http://www.sbimauritius.com/new/files/about.php Bank to Grow with
  41. Web site: About SBI Sri Lanka – SBI – Sri Lanka . sl.statebank . 29 March 2021.
  42. News: State Bank of India set to open second branch in China. 1 June 2017. The Hindu.
  43. News: State Bank of India Acquired 76% Shareholding in Giro Commercial Bank in 2005 . Accessmylibrary.com . 8 October 2005 . 21 December 2010 . https://web.archive.org/web/20121023024200/http://www.accessmylibrary.com/article-1G1-137297728/sbi-buy-76-kenyas.html . 23 October 2012 . live .
  44. Web site: About SBI UK – SBI UK . sbiuk.statebank . 29 March 2021.
  45. Web site: 19 February 2014. SBI bank logo was inspired by Kankaria lake. 3 August 2020. DeshGujarat. en-US.
  46. Web site: SBI merger: India may soon have a global Top 50 bank. Aparna. Iyer. 17 May 2016. 1 July 2016. https://web.archive.org/web/20160630191358/http://www.livemint.com/Industry/50cZxIsB9vMOJKae2UGl0M/SBI-units-discussed-consolidation-with-parent-bank-unions.html. 30 June 2016. live.
  47. News: Five associate banks to merge with SBI. 18 May 2016. 1 July 2016. The Hindu. https://web.archive.org/web/20160621001933/http://www.thehindu.com/business/five-associate-banks-to-merge-with-sbi/article8612665.ece. 21 June 2016. live. Saha. Manojit.
  48. Web site: SBI merges with 5 associates: New entity set to enter world's top 50 banks list . 16 June 2016 . 30 August 2019 . https://web.archive.org/web/20190830174049/https://www.financialexpress.com/industry/banking-finance/sbi-merges-with-5-associates-new-entity-set-to-enter-worlds-top-50-banks-list/286525/ . 30 August 2019 . live .
  49. News: Cabinet okays merger of associates with SBI . @Businessline . 30 August 2019 . https://web.archive.org/web/20190830174050/https://www.thehindubusinessline.com/money-and-banking/cabinet-okays-merger-of-associates-with-sbi/article8732405.ece . 30 August 2019 . live .
  50. News: Ahead of merger with SBI, associate SBT to raise up to Rs 600 crore . The Economic Times . 18 February 2017 . 18 February 2017 . https://web.archive.org/web/20170219021652/http://economictimes.indiatimes.com/industry/banking/finance/banking/ahead-of-merger-with-sbi-associate-sbt-to-raise-up-to-rs-600-crore/articleshow/57222287.cms . 19 February 2017 . live .
  51. Web site: Who benefits from merger of SBI, associates? . 20 June 2016 . 30 August 2019 . https://web.archive.org/web/20190830172033/https://www.livemint.com/Money/u4u9tx6Pt3MkwEP1g8CnTK/Who-benefits-from-merger-of-SBI-associates.html . 30 August 2019 . live .
  52. News: SBI's merger could see the banking behemoth leapfrogging into the global top 50 . The Economic Times . 11 May 2017 . 30 August 2019 . https://web.archive.org/web/20190830172033/https://economictimes.indiatimes.com/industry/banking/finance/banking/sbis-merger-could-see-the-banking-behemoth-leapfrogging-into-the-global-top-50/articleshow/58617431.cms . 30 August 2019 . live . Gupta . Deepali .
  53. News: Five associate banks, BMB merge with SBI . The Hindu . April 2017 . 30 August 2019 . https://web.archive.org/web/20170401125350/http://www.thehindu.com/business/Industry/sbi-five-associate-banks-bmb-merge-with-sbi/article17757316.ece . 1 April 2017 . live .
  54. News: SBI network of ATM's . en-US.
  55. Web site: SBI to buy YES Bank shares worth Rs 7,250 crore at Rs 10 a piece. economictimes.indiatimes.com. 14 March 2020 . 25 April 2024.
  56. Web site: SBI jumps over 6% on YES Bank block deal buzz. Is PSU booking profit after recent surge. economictimes.indiatimes.com. 8 February 2024 . 25 April 2024.
  57. Web site: Quarter ending Dec 2023- State Bank of India . 21 Feb 2024 . sbi.co.in.
  58. News: Stake in PSBs: LIC holding drops as stress mounts. 15 February 2016. The Indian Express. 28 March 2017. en-US. https://web.archive.org/web/20170604021721/http://indianexpress.com/article/business/banking-and-finance/stake-in-psbs-lic-holding-drops-as-stress-mounts/. 4 June 2017. live.
  59. Web site: State Bank of India . BSEindia.com . 11 October 2013 . https://web.archive.org/web/20131102194242/http://www.bseindia.com/stock-share-price/state-bank-of-india/sbi/500112/ . 2 November 2013 . live .
  60. Web site: Scripwise Weightages in S&P BSE SENSEX . BSE India . 11 October 2013 . https://web.archive.org/web/20151201094728/http://www.bseindia.com/indices/IndicesWatch_Weight.aspx?iname=BSE30&index_Code=16 . 1 December 2015 . dead .
  61. Web site: State Bank of India . NSE India . 11 October 2013 . https://web.archive.org/web/20131202235700/http://www.nseindia.com/live_market/dynaContent/live_watch/get_quote/GetQuote.jsp?symbol=SBIN . 2 December 2013 . live .
  62. Web site: Download List of CNX Nifty stocks (.csv) . NSE India . 11 October 2013 . https://web.archive.org/web/20131013143407/http://www.nseindia.com/content/indices/ind_niftylist.csv . 13 October 2013 . live .
  63. Web site: SBID State Bank of India GDR (Each Rep 2 SHS INR10) . London Stock Exchange . 11 October 1996 . 11 October 2013 . https://web.archive.org/web/20130917184413/http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary.html?fourWayKey=US8565522039USUSDIOBE . 17 September 2013 . live .
  64. Web site: Annual Report 2023-24 of State Bank of India. 9 May 2024. https://web.archive.org/web/20190718084418/https://www.sbi.co.in/portal/documents/41076/60023/SBI%2BAR%2B2019.pdf/1df935b3-aa03-497d-8c24-0cbfbc07d496. 18 July 2019. live.
  65. Web site: 2023-06-09 . SBI Invests Rs. 316.76 Cr in CSR Initiatives for FY2023, Transforming Lives Across India I India CSR . 2024-02-21 . en-US.
  66. Web site: Thacker . Hency . 2023-05-25 . State Bank of India CSR Report: Providing Service Beyond Banking . 2024-02-21 . The CSR Journal . en-GB.

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