TRADEMARK - SBI The State Bank of India (SBI) has a sterling legacy of over 200 years, standing today as the largest financial services conglomerate in India with its Headquarter in Mumbai. The journey started back in the 19th century when Bank of Bengal was founded on 2nd June 1806. The Bank of Bengal along with Bank of Madras and Bank of Bombay was the three Presidency banks until the said banks were amalgamated into Imperial Bank of India on 27th January 1921. Subsequently, on 1st July 1955, the Imperial Bank of India was nationalized and renamed as the State Bank of India through the State Bank of India Act 1955. Thereafter, the Government of India in the year 2008 bought stake of Reserve Bank of India in SBI with the object to remove foreseeable conflicts in the future, RBI being the banking regulatory authority of the nation.
On 1st April 2017, the five associated banks of SBI namely, State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore and Bharatiya Mahila Bank were merged into single. This was the first ever large scale consolidation in the chronicle of the Indian Banking Industry.