In the intricate landscape of India’s banking sector, State Bank of India (SBI) holds a unique position, marked by a history that stretches back to the early 19th century. In this article, we take a look at six lesser-known facts about SBI, the country’s biggest bank.
1. SBI’s Historic Beginnings
Established in 1806 as the Bank of Calcutta, SBI’s inception was rooted in managing government accounts. Over the years, it underwent transformations, becoming the State Bank of India in 1955. This historical evolution is reflective of its adaptive nature in alignment with the changing financial landscape of the nation.
2. Test Of Time
SBI’s endurance through historical events such as the World Wars, the Swadeshi Movement, and economic shifts underlines its time-tested presence. Its ability to navigate and sustain operations during turbulent times establishes it as a resilient financial institution.
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3. SBI’s Massive Network
SBI’s extensive network encompasses over 22,000 branches and 58,000 ATMs across India. This strategic expansion is designed to ensure widespread accessibility, catering to diverse demographic segments, from urban centers to remote rural areas.
4. Guinness World Record
In a noteworthy achievement, SBI holds a Guinness World Record for disbursing the highest number of home loans in a single day. This accomplishment is a testament to its operational efficiency and significant role in providing housing finance to a broad spectrum of the population.
5. SBI‘s Tech Adoption
SBI, recognized for its technological acumen, became the first bank in India to launch a dedicated app for smartwatches. This move signifies a commitment to embracing digital innovations, enhancing customer convenience, and adapting to the evolving landscape of banking technology.
6. The Power Of The Sun
In a sustainable stride towards environmental responsibility, SBI introduced solar-powered ATMs. By harnessing solar energy to power ATMs, SBI showcases a commitment to reducing its carbon footprint and promoting eco-friendly banking practices.
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