Full Form of SBI
State Bank of India
SBI Full Form is State Bank of India. SBI is an Indian public sector bank that is completely owned by the Indian government. SBI provides services not only in India, it also has a notable international presence as well. The Imperial Bank of India was renamed and restructured as SBI on 1st July 1955 and it was nationalized on 2nd June 1956. Arundhati Bhattacharya is the first female chairperson of this bank.
Headquartered in Mumbai, SBI offers its services and products in the consumer, corporate, investment, and private banking, management of assets, wealth, and mortgages, insurance and finance services, credit and debit card facilities etc. SBI has about 16000 domestic branches operated by 14 regional centres and a number of zonal offices. It also has almost 44000 ATM counters across the country.
It is the first bank to open an ATM counter in the Kargil region of Jammu & Kashmir. It also operates in about 36 countries through about 190 foreign offices. Originally SBI had 8 associate banks, but it now has only 5 of them which have their headquarters in Jaipur, Hyderabad, Mysore, Patiala, and Travancore. It also has 2 representative offices located in Cape Town and Bhutan. SBI also has numerous non-banking subsidiaries which are related to insurance, management of funds, commercial services, payment services etc. SBI is indeed the leader in banking services in India.