State Bank Of India

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STATE BANK OF INDIA

The origin of the State Bank of India goes back to the first decade of the nineteenth century with the establishment of the Bank of Calcutta in Calcutta on 2 June 1806. Three years later the bank received its charter and was re-designed as the Bank of Bengal (2 January 1809). A unique institution, it was the first joint-stock bank of British India sponsored by the Government of Bengal. The Bank of Bombay (15 April 1840) and the Bank of Madras (1 July 1843) followed the Bank of Bengal. These three banks remained at the apex of modern banking in India till their amalgamation as the Imperial Bank of India on 27 January 1921.

The State Bank of India was born with a new sense of social purpose aided by the 480 offices comprising branches, sub offices and three Local Head Offices inherited from the Imperial Bank. The concept of banking as mere repositories of the community's savings and lenders to creditworthy parties was soon to give way to the concept of purposeful banking subserving the growing and diversified financial needs of planned economic development. The State Bank of India was destined to act as the pacesetter in this respect and lead the Indian banking system into the exciting field of national development.

Following are the products and services od State Bank of India:

1. Personal Banking: State Bank of India offers a wide range of services in the Personal Banking Segment which are indexed here.:-

SBI Term Deposits

SBI Loan For Pensioners

SBI Recurring Deposits

Loan Against Mortgage Of Property

SBI Housing Loan

Loan Against Shares & Debentures

SBI Car Loan

Rent Plus Scheme

SBI Educational Loan

Medi-Plus Scheme

SBI Personal Loan

Rates Of Interest

2. Agriculture/rural : State Bank of India Caters to the needs of agriculturists and landless agricultural laborers through a network of 6600 rural and semi-urban branches. There are 972 specialized branches which have been set up in different parts of the country exclusively for the development of agriculture through credit deployment. These branches include 427 Agricultural Development Branches (ADBs) and 547 branches with Development Banking Department (DBDs) which cater to agriculturists and 2 Agricultural Business Branches at Chennai and Hyderabad catering to the needs of hi-tech commercial agricultural projects.

Following are the plans for rural people:

• CROP LOAN (ACC)

• PRODUCE MARKETING LOAN SCHEME

• LOAN AGAINST WAREHOUSE RECEIPTS / COLD STORAGE RECEIPTS

• KISAN CREDIT CARD SCHEME (KCC)

• AGRICULTURAL TERM LOANS (ATL)

• LAND DEVELOPMENT SCHEMES

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