imperial bank of india was the old name of state bank of india.
imperial bank of india was the old name of state bank of india.
what is the old name of state bank of india?
imperial bank of india
the reserve bank of india, which is the central bank of india, acquired a controlling interest in the imperial bank of india in 1955, which was renamed on 30 april 1955 to the state bank of india. this transformation from the imperial bank of india to the state bank of india was given legal recognition through an act of the parliament of india, which came into force from 1 july 1955. on that day, the bank had 480 branches and sub-offices, as well as three local head offices; slightly more than a quarter of the resources of the indian banking industry was under its control and command. the branch network of the state bank of india has since grown to 24050 branches as of 31 march 2018. in 2007, the reserve bank of india transferred its stake in the state bank of india to the indian government.
imperial bank of india
the plans for making sbi a single very large bank by merging the associate banks started in 2008, and in september the same year, sbs merged with sbi. the very next year, state bank of indore (sbn) also merged. in the same year, a subsidiary named bharatiya mahila bank was formed. the negotiations for merging of the 6 associate banks (state bank of bikaner and jaipur, state bank of hyderabad, state bank of mysore, state bank of patiala, state bank of travancore and bharatiya mahila bank) by acquiring their businesses including assets and liabilities with sbi started in 2016. the merger was approved by the union cabinet on 15 june 2016. the state bank of india and all its associate banks used the same blue "keyhole" logo. the state bank of india wordmark usually had one standard typeface, but also utilized other typefaces.
state bank of india