Project on SBI (state Bank of India)

                 

      STATE BANK OF INDIA

         The State Bank of India (SBI) is an Indian multinational, public sector banking and financial services statutory body. It is a government corporation statutory body headquartered in Mumbai, Maharashtra. SBI is ranked as 216th in the Fortune Global 500list of the world's biggest corporations of 2018. It is the largest bank in India with a 23% market share in assets, besides a share of one-fourth of the total loan and deposits market.

Founded:- 1 July 1955, State Bank of India

Headquarters:-State Bank Bhawan, M.C. Road,Nariman Point, Mumbai,Maharashtra,  India

Area served:-Worldwide 

Chairman:-  Rajnish Kumar 

Owner:-Government of India (61.23%)/RBI

          SBI provides a wide range of products and services to individuals, commercial enterprises, large corporates, public bodies and institutional customers through its various branches and outlets, joint ventures, subsidiaries and associate companies. The Group comprises of State Bank of India (SBI), its various non-banking subsidiaries/ joint ventures, and foreign banking subsidiaries/ joint ventures.

History:-

The oldest commercial bank in India, SBI originated in 1806 as the Bank of Calcutta. Three years later the bank was issued a royal charter and renamed the Bank of Bengal. Along with the Bank of Bombay (founded 1840) and the Bank of Madras (founded 1843), it was one of three so-called presidency banks, each of which was jointly owned by the provincial government and private subscribers. In 1921 the presidency banks were merged to form the Imperial Bank of India (IBI), which then became the largest commercial enterprise in the country. In 1955 the government of India and the country’s central bank, the Reserve Bank of India (founded 1935), assumed joint ownership of IBI, which was renamed the State Bank of India. Four years later, by the State Bank of India (Subsidiary Banks) Act, banks earlier operated by individual princely states became subsidiaries of SBI. The Reserve Bank’s share of SBI was transferred to the government in 2007. Since nationalization, SBI has served the needs of Indian economic development through rural-development initiatives and microcredit programs and by financing major agricultural and industrial projects and raising loans for the government.

Number of Branches & employees working:-

      A Fortune 500 company, SBI has entered into the league of top 50 global banks with a balance sheet size of over Rs 30 lakh crore, over 24,000 branches and 59,000+ ATMs serving over 42 crore customers after the merger of its five Associate Banks and Bharatiya Mahila Bank on 1st April 2017. SBI has an overseas presence through 195 foreign offices spread across 36 Countries. and SBI also hash more than 264,041 including 107,077 officers (March 2018)

Domestic presence:-

       SBI has over 24000 branches in India. In the financial year 2012–13, its revenue was ₹2.005 trillion (US$29 billion), out of which domestic operations contributed to 95.35% of revenue. Similarly, domestic operations contributed to 88.37% of total profits for the same financial year.

Under the Pradhan Mantri Jan Dhan Yojana of financial inclusion launched by Government in August 2014, SBI held 11,300 camps and opened over 3 million accounts by September, which included 2.1 million accounts in rural areas and 1.57 million accounts in urban areas.

International prasance:- 

SBI has 190 Foreign Offices in 36 countries service the international needs of the bank's foreign customers, in addition to conducting retail operations. The focus of these offices is India-related business.countrys name:Australia,Bangladesh,Belgium,Bhutan,California,Canada,China,France,Germany,HongKong,Indonesia,Japan,Maldives,Mauritius,Nepal,Nigeria,Oman,Singapore,South Africa,  Sri Lanka,UAE,UK,USA.    

Recent developments :-

On the technology front, SBI has expanded the digital base of the Banking services in recent years. It plays a vital role in making the Government of India’s Digital India initiative a reality. 

to increase Digital payment in India SBI was indrodused YONO app it means you only need one app

With YONO, You Only Need One app for all your banking, shopping and investment needs. YONO is your one stop shop to fulfil all your banking, insurance, investments, and daily shopping needs.

• Instant account opening - Open a digital savings account in less than 5 minutes without leaving your home and get personalized platinum debit card, Concession on Bank service charges & Paperless

• India’s largest shopping marketplace - Exclusive discounts and offers for SBI customers across a large number of e-commerce merchants

• Banking simplified - Easy to understand interface, Simple and intuitive navigation

• Quick pay - Intelligent funds transfer with UPI enabled payments

• One view - Link and view all State Bank group relationships in one app

• Smart spending - Intelligent spending analysis using smart auto-tagging and categorization of the transactions

• Your friend in need - Pre-approved personal loans on the go up to Rs. 1 lakh without any documentation in 2 minutes

Service offered by state bank

State Bank of India (SBI) is the largest public sector bank in India. The bank has played a pivotal role in establishing the organized banking sector in India by offering a wide range of services to individuals as well as businesses. It has its headquarters in Mumbai, Maharashtra and after its merger with five of its associate banks it now operates through a network of more than 24,000 branches and 59,000 ATMs across the country. The State Bank of India has 20 percent market share in deposits and loans in the Indian commercial banks arena.

SBI presents a wide range of products and services for its customers. It includes savings account, credit cards, fixed deposits, home loan, personal loan, debit card, loan against property, car loan, gold loan and more. Let us learn about these in some detail.

State Bank of India Home Loan

SBI is the largest mortgage lender in the country and has helped more than 30 Lakh families in getting the key to their dream home. You can also make your dream home real by taking a home loan at low rate of interest from State Bank of India. Loans can be availed for projects approved by RERA and SBI. Following are the reasons that make SBI home loan a worthy deal-

• Choose from a range of SBI and RERA approved projects
• Instant e-approval in three simple steps
• Calculate home loan EMIs using EMI calculator
• Transfer outstanding balance from other banks and save on overall interest outgo
• Facility also available for NRIs
• Avail Flexipay Home Loan and pay only interest during the pre-EMI period

State Bank of India Business Loan

There are two types of loans that SBI offers to help small businesses expand to newer horizons. These include asset backed loans and collateral free loans.

Asset Backed Loans- These loans are secured against property and the proceeds can be used for business purposes such as purchasing of fixed deposits, working capital requirement, capacity expansion and more. Up to Rs. 20 crores can be borrowed under this for repayment tenure of up to 180 months. Loan can be availed up to 60% of the value of property.

Collateral Free Loans- SBI offers loans to businesses without the need to put up any asset as collateral. Just like asset backed loans, these can be utilized for business purposes like those mentioned above. The amount of loan depends on the credit profile of the borrower.
               Apart from these, SBI also offers SBI e-Smart for e-Commerce, SME credit card and SBI Fleet Finance Scheme.

State Bank of India Credit Card:-
SBI Card is a joint venture between State Bank of India and GE Capital. It is the second largest credit card provider in the country and offers a wide range of cards that suit the needs of different types of customers. There are cards that focus on shopping, travel, dining, movies and much more. Users can also earn rewards and cashbacks on SBI Card every time they make a transaction. Given below are some of the features of SBI credit cards-

• Transfer balances from other bank credit cards to SBI card
• Convert your bigger expenses into easy EMIs using Flexipay
• Enjoy hassle-free money with convenient repayment options
• Pay utility bills easily by setting standing instructions
• Choose from three different types of insurance covers

State Bank of India Debit Card:-

With savings bank account, SBI customers get a complimentary debit card. The type of card depends on the type of savings account that they have. All debit cards are internationally accepted and offer different types of rewards and benefits. SBI Classic Debit Card, SBI Silver International Debit Card, SBI Gold International Debit Card, SBI Platinum International Debit Card and SBI Global International Debit Card are some of the popular debit card options by SBI. It also offers Mumbai Metro Combo Card which helps in easy recharge and convenient commuting in Mumbai Metro Trains.

State Bank of India Personal Loan

When you require urgent cash, State Bank of India can help you with its personal loan offerings. This loan can be utilized to pay for huge medical bills, wedding expenses, international vacation or for debt consolidation. No security is required for taking personal loans and the application process is also simple. The minimum loan amount has been set as Rs. 25,000 and the maximum amount has been capped at Rs. 15 Lakhs. The processing fee on SBI personal loans is equal to 1 percent of the loan amount and prepayment of loan is also possible at the rate of 3 percent on the amount prepaid. This loan is available for salaried individuals as well as self-employed.

State Bank of India Gold Loan

Customers can avail gold loan from State Bank of India at highly-affordable rates of interest. The amount of loan depends on the market value of the gold ornaments pledged to the bank subject to a maximum limit of Rs. 20 Lakhs. Maximum repayment period in case of SBI gold loan is 36 months. Here are some of the reasons that make SBI gold loan a good bet-

• Any individual with steady source of income can avail the loan.
• The minimum age for availing the loan is 21 years.
• The minimum amount of loan is Rs. 20,000.
• The repayment of Principal and Interest will begin from the next month of disbursement.
• Margin in case of gold loan is 25 percent.
• Pledged gold ornaments are kept safe in secure bank vaults. 

State Bank of India Car Loan

State Bank of India offers you the best deal in the market when it comes to financing your new car. It can be taken for the purpose of buying a new passenger car, a multi-utility vehicle (MUV) or a Sports Utility Vehicle (SUV). To make it even simpler for people to purchase their dream car, SBI has kept the interest rates lower and application process hassle-free. The longest repayment tenure has been set at 7 years and the loan amount will depend on the on-road price of the vehicle. Moreover, there is no penalty for prepayment or foreclosure of the loan before maturity. The minimum age to avail SBI car loan is 21 years and the maximum age is 65 years.

State Bank of India Loan against Property

Another way to meet your financial requirements is by taking a loan against your property. Borrowers do not have to provide any documentary evidence for end use of the funds borrowed. Both residential and commercial properties can be pledged to the bank for availing this loan. Minimum loan amount is Rs. 10 Lakhs and maximum amount is capped at Rs. 7.5 Crores. Following are the some benefits of SBI loan against property–

• Attractive rates of interest
• Lowest processing charges
• Transparent application and operations
• Interest rate levied on daily reducing balance method
• No prepayment penalty
• Rental income may also be considered for taking the loan

State Bank of India Fixed Deposit

Invest in Bank of India fixed deposits and earn interests. The FD can be taken for any tenure ranging from 7 days to 10 years and the interest rate offered by SBI is also quite attractive. Senior citizens are eligible for 0.50 percent higher interest than regular investors. Customers can also avail the facility of loans against their fixed deposits. The table given below shows SBI FD interest rates for different tenures-
Check detail SBI FD Interest Rates

State Bank of India Savings Account

State Bank of India offers different types of savings accounts according to customers’ needs. Opening a savings account gives you convenience of banking from anywhere around the world through internet banking or mobile banking. The types of savings accounts offered by SBI-

• General Savings Account
• Special Salary Account
• Children’s Savings Account
• 3 In 1 Demat And Online Trading Account

Several facilities are offered with SBI savings accounts such as auto-sweep facility, mobile banking, internet banking, rewards program, personal insurance and health insurance. Any queries or complaints regarding your savings accounts can be resolved by calling 24×7 contact centres.

State Bank of India Education Loan:-

SBI also offers education loans to help students fulfil their dreams of studying in a top institute. This loan covers the tuition fees, exam fee, lab fee, purchase of books/uniform/equipment, travel expenses to study abroad, cost of a two-wheeler up to Rs. 50,000 and more. For studies in India, the maximum amount of loan is Rs. 10 Lakhs and the same for education in a foreign country is Rs. 20 Lakhs. No tangible security is required unless the loan is above Rs. 7.5 Lakhs and the margin is nil for loans below Rs. 4 Lakhs. There is a moratorium period of one year in which the borrower does not have to pay any amount to the bank; loan repayment will begin once the moratorium period is over.

Non-banking subsidiaries:-

     Apart from five of its associate banks (merged with SBI since 1 April 2017), SBI's non-banking subsidiaries include:

• SBI Capital Markets Ltd
• SBI Cards & Payments Services Pvt. Ltd. (SBICPSL)
• SBI Life Insurance Company Limited

In March 2001, SBI (with 74% of the total capital), joined with BNP Paribas (with 26% of the remaining capital), to form a joint venture life insurance company named SBI Life Insurance company 

RECOGNITION & AWARDS IN (2018- 2019)

1.Best Transaction Bank in India by “The Asian Banker” for the second time in a row. 

2.”The Best Trade Finance Bank (India)-2019” for the eighth consecutive year by Global Finance Magazine. 

3.“Green Bond Pioneer Award” for being the largest new emerging markets Certified Climate Bond issuer of 2018 by Climate Bond Initiative. 

4.‘Best MSME Bank Award-Large bank’ by CIMSME. 

5.YONO, our digital initiative, won the “Mobile Banking Initiative of the Year - India” at the Asian Banking and Finance Retail Banking Awards, Singapore and ET BFSI Innovation Awards. 

6.At the Asian Banker Financial Technology Innovation Awards 2018 SBI received awards in a number of categories including The Risk Data and Analytics Technology Implementation of the Year for OFSAA.

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