The State Bank of India- India’s Largest Bank

08/22/2017
State Bank of India IFSC and MICR Codes
State Bank of India IFSC and MICR Codes

The Full form of SBI is State Bank of India. It is an Indian multinational, public sector and financial services company. It is a Government owned corporation. It has its head quarters in Mumbai, Maharashtra. On 1st April 2017, SBI merged with five of its Associate Banks

  • State Bank of Bikaner
  • State Bank of Patiala
  • State Bank of Jaipur
  • State Bank of Mysore
  • State Bank of Hyderabad

It was first founded in the year 2nd June 1806, named Bank of Calcutta. On 1st July 1955, it was officially named as State Bank of India. The Chairman of SBI is Arundhati Bhattacharya. The logo of State Bank of India is a blue circle with a small cut in the bottom that depicts perfection and the small man which depicts the common man. The Tag- line of the State Bank of India is "Pure Banking, Nothing Else". The State Bank of India will soon enter the League of 50 Global banks acquiring a balance sheet size of Rs 33 trillion.

The State Bank of India currently has the largest number of employees with 278,000 employees, 420 million customers and more than 24,000 branches and 59,000 ATM's. It has around 198 offices in 37 countries, 301 correspondence in 72 countries. The company ranks 232nd on the Fortune Global 500, tagged as the World's Biggest Corporations in 2016. In India, State Bank of India has 44 branches.

International Presence of SBI

As per 2014-15, the State Bank of India has over a 191 overseas banks situated in 38 countries including Singapore, Hong Kong, Colombo, New York, Muscat etc. It has seven retailer branches in Singapore, two branches in Toronto and two branches in Vancouver.

Products and Services provided by SBI

  • Consumer Banking
  • Corporate Banking
  • Finance and Insurance
  • Investment Banking
  • Mortgage Loans
  • Private Banking
  • Private Equity
  • Savings
  • Securities
  • Asset Management
  • Wealth Management
  • Credit Cards

Market Status of the Bank

According to the 2017 survey the bank has faced the following marketing status-

  • The Bank collected a revenue of US$47 billion
  • The Bank bagged a profit of US$ 1.6 billion
  • Total assets earned by the bank is US$420 Billion

State Bank IFSC Codes

To know about the IFSC Codes of State Bank of India, let us take an example of the SBI Office is

Greater Kailash-I, New Delhi.

Bank- State Bank of India

Address- Greater Kailash, Part 1 New Delhi 110048

Branch- Greater Kailash-I

IFSC Code- SBIN0001078

The Last six characters of the IFSC Codes represent the Branch Code. Therefore, 001078 is the Branch Code Greater Kailash.

MICR Code- 110002042

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