State Bank of India - Solan
About State Bank of India
Presidency Banks of Bengal
The presidency Banks of Bengal, Bombay and Madras with their 70 branches were merged in 1921 to form the Imperial Bank of India. The triad had been transformed into a monolith and a giant among Indian commercial banks had emerged. The new bank took on the triple role of a commercial bank, a banker's bank and a banker to the government.
But this creation was preceded by years of deliberations on the need for a 'State Bank of India'. What eventually emerged was a 'half-way house' combining the functions of a commercial bank and a quasi-central bank.
The establishment of the Reserve Bank of India as the central bank of the country in 1935 ended the quasi-central banking role of the Imperial Bank. The latter ceased to be bankers to the Government of India and instead became agent of the Reserve Bank for the transaction of government business at centres at which the central bank was not established. But it continued to maintain currency chests and small coin depots and operate the remittance facilities scheme for other banks and the public on terms stipulated by the Reserve Bank. It also acted as a bankers' bank by holding their surplus cash and granting them advances against authorised securities. The management of the bank clearing houses also continued with it at many places where the Reserve Bank did not have offices. The bank was also the biggest tenderer at the Treasury bill auctions conducted by the Reserve Bank on behalf of the Government.
The establishment of the Reserve Bank simultaneously saw important amendments being made to the constitution of the Imperial Bank converting it into a purely commercial bank. The earlier restrictions on its business were removed and the bank was permitted to undertake foreign exchange business and executor and trustee business for the first time.
Contact State Bank of India
| Address : | Ward Number 7, Solan, Himachal Pradesh 173212, India |
| Postal code : | 173212 |
| Website : | https://www.sbi.co.in/ |
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Vivek Mehta on Google
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Sudhir Jha on Google
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Chauhan Sahil on Google
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Naveen Banga on Google
★ ★ ★ ★ ★ Cooperative staff
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Arun Shingh on Google
★ ★ ★ ★ ★ Public sector bank
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Eat . Work . play . on Google
★ ★ ★ ★ ★ So nice
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Aditya Khoshto_7207 on Google
★ ★ ★ ★ ★ They are professional, kind, and local. Everyone there is so welcoming and they really make you feel like an important person. After setting up an account the branch manager hand wrote a thank you note that I received in the mail that same week. This bank is very crowded and busy yet employees are willing to help you. You just don’t get that kind of personal touch when banking with large national banks. I appreciate all the staff and look forward to many years banking with SBI
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