Question
Download Solution PDFHow many associate banks merged with State Bank of India (SBI) in 2017?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is 5.
State Bank of India:
- Five of SBI associate banks along with Bhartiya Mahila Bank merged with SBI on April 2017.
- 3 Presidency banks, Bank of Bombay, Bank of Madras, and Bank of Bengal were merged to form Imperial banks in 1921.
- The imperial bank was later transformed into the State Bank of India in 1955.
- SBI associate banks are merged:
- State Bank of Bikaner and Jaipur
- State Bank of Travancore
- State Bank of Patiala
- State Bank of Mysore
- State Bank of Hyderabad
Important Points
- The first nationalized bank in India - SBI under the SBI Act of 1955.
- Seven subsidiaries bank of State Bank became Nationalized on 19th July 1960.
- Seven subsidiaries of SBI are:
- State Bank of Bikaner and Jaipur
- State Bank of Hyderabad
- State Bank of Indore merged in 2009
- State Bank of Mysore
- State Bank of Patiala
- State Bank of Saurashtra merged in 2008
- State Bank of Travancore
- SBI chairman: Dinesh Kumar Khara
- SBI Headquarters: Mumbai
Last updated on Mar 12, 2025
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