Please forward this error screen to sharedip-1666228104. This was the first ever large scale consolidation in the Indian english for bank po pdf industry. SBI’s market share was projected to increase to 22 percent from 17 per cent.
301 correspondents in 72 countries. State Bank of India in 1955. In 2008, the government took over the stake held by the Reserve Bank of India. Seal of Imperial Bank of India.
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 Imperial Bank of India remained a joint stock company but without Government participation. On 1 July 1955, the imperial Bank of India became the State Bank of India. Reserve Bank of India’s stake in SBI so as to remove any conflict of interest because the RBI is the country’s banking regulatory authority. September 1959 and October 1960, which made eight state banks associates of SBI. This une with 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.