Question
Download Solution PDFWhere is the head office of State Bank of India, located?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is Mumbai.
Key Points
- State Bank of India
- The Imperial Bank of India was renamed as the State Bank of India in 1955.
- The Imperial Bank was formed as a joint-stock bank in January 1921 by amalgamating the Presidency Banks of Bombay, Calcutta, and Madras.
- The Imperial Bank had the status of a quasi-central bank from its inception.
- On 22 April 1955, the bill to constitute the State Bank of India and to transfer to it the undertaking of the Imperial Bank of India was introduced in the Lok Sabha.
- The bill was passed by Parliament on 30 April 1955 and received the President's assent.
Additional Information
- Chairperson: Dinesh Kumar Khara
- Headquarters: Mumbai
- Founded: 1 July 1955
- Subsidiaries: SBI Card, SBI Life Insurance, etc.
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