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SBI Day 2023 - July 01
July 6 , 2023
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- The State Bank of India was first established as the Bank of Calcutta in Calcutta on 2 June 1806.
- In 1809, the bank received its charter and was re-designed as the Bank of Bengal.
- The bank was the first joint-stock bank of British India sponsored by the Government of Bengal.
- Later in 1840, the Bank of Bombay and in 1843, the Bank of Madras followed the Bank of Bengal.
- The three banks amalgamated as the Imperial Bank of India in 1921.
- In May 1955, an Act was passed in Parliament and the State Bank of India was constituted on July 1, 1955.
- In 1959, the State Bank of India (Subsidiary Banks) Act was passed.
- It allowed the bank to take over eight former State-associated banks as its subsidiaries.
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