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SBI Bank is the largest government bank in India. Its first branch was opened in London and later it became one of the major banks in India. Let us know its history.
 

SBI Bank is one of the largest public sector banks in India. Maybe you also have a bank account in this bank, but do you know what is the history of this bank which has more than 50 crore customers? If not then let us know. 

What is the history of SBI Bank?
Most of the customers in India trust SBI Bank. Which is a government bank. We are not saying this but it is the belief of 50 crore customers who have accounts in this bank. If we look at the history of this bank, let us tell you that its seed was first planted in London. 

Then it was established for the first time in Calcutta during British rule. This incident happened in 1806. When Imperial Bank of India was established in Kolkata. Then when India became independent, it became the State Bank of India in the policy of nationalization of banks.

 

The history of the State Bank of India is more than 200 years.
State Bank of India is more than 200 years old. When it became the State Bank of India, more than 20 banks were merged into it. If we look at its roots, the Bank of Calcutta was established on 2 June 1806 during British rule. Later its name was changed to Bank of Bengal. Bank of Bengal was one of the three Presidency Banks. The other two were the Bank of Bombay and the Bank of Madras. 

All three banks had the right to issue paper currency. Let
we tell you that these three Presidency banks were incorporated as joint stock companies. The special thing is that these three banks had the exclusive right to issue paper currency till 1861. On January 27, 1921, the Presidency banks merged and the new banking entity was named Imperial Bank of India. 

Until then the Imperial Bank of India remained a joint stock company without government involvement. Then as we said after independence it emerged as a major bank in India and now it has more than 50 crore customers.