The State Bank of India (SBI), which traces its roots back to 1806, was transformed from the Imperial Bank of India by the Indian Parliament's enactment of the State Bank of India Act in 1955.
The State Bank Group is the largest banking group in India. Effective April 1, the Bank has merged its five associate banks, the State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore, as well as the Bharatiya Mahila Bank.
With this mega-merger SBI has again displayed its ability to change and evolve to continue as the champion among banks in India and will join the league of top 50 banks globally in terms of assets.