State Bank of India celebrates 68th Bank Day

State Bank of India (SBI) marked its 68th Bank Day on 1st July 2023, with celebrations across the country. In Chandigarh, the Chief General Manager, Vinod Jaiswal, led the occasion, emphasizing the importance of maintaining SBI’s glorious heritage and commitment to financial inclusion. The SBI has a respected history dating back to 1806 when it was the Bank of Calcutta, one of the first three joint-stock banks. It evolved into the Imperial Bank of India in 1921 but was nationalized as the State Bank of India in 1955. The bank has made significant strides since then, with over 24,000 branches, 50,000 ATMs, and a presence across 30 countries, making it an economic driver and important contributor to the financial development of India.

Important Points to remember:

  1. SBI celebrated its 68th Bank Day on 1st July 2023, demonstrating its commitment to financial inclusion.
  2. SBI's history traces back to 1806, making it one of the oldest banks in India.
  3. It has more than 24,000 branches and 50,000 ATMs across India and is present in over 30 countries.
  4. Key milestones in SBI's history include the merger of three presidency banks in 1921, nationalization and name change in 1955, and launching its first digital bank in 2017.
  5. The chairperson of SBI is Dinesh Kumar Khara, and the managing director is Challa Sreenivasulu Setty.