State Bank of India History

1806: On June 2, the Bank of Calcutta was established.
1809: On January 2, the Bank of Calcutta changed its name to the Bank of Bengal.
1840: On April 15, the Bank of Bombay was established.
1843: On July 1, the Bank of Madras was established.
These three banks — Bank of Bengal, Bank of Bombay, and Bank of Madras — were known as Presidency banks, were the result of royal charters, and were incorporated as joint stock companies.
1861: The government passed the Paper Currency Act, limiting the right to issue paper currency to the three Presidency banks, .
1921: On January 27, the government amalgamated the three Presidency banks to form the Imperial Bank of India. The Imperial Bank of India continued as a joint stock company. Until the establishment of a central bank in India, the Imperial Bank and its early predecessors served as India's central bank, at least with respect to the issuing of currency.
1955: On 30 April, the Parliament of India enacted the State Bank of India Act authorizing the Reserve Bank of India (RBI), which is the central bank, to acquire a controlling interest in the Imperial Bank of India. The RBI then took a 60% ownership stake. On July 1, Imperial Bank of India became State Bank of India.
1959: the Government of India passed the State Bank of India (Subsidiary Banks) Act, which enabled SBI to take over eight former State-associated banks as its subsidiaries.
1980s When Bank of Cochin in Kerala faced a financial crisis, the government merged it with State Bank of India.
2007: On June 29, the Government of India acquired the entire Reserve Bank of India (RBI) shareholding in State Bank of India (SBI), consisting of over 314 million equity shares, with a market value of over 355 billion rupees.
2008: 9 March 2008 State Bank of India on Sunday became the second bank in the world to have 10,000 branches when Union Finance Minister P Chidambaram inaugurated its latest branch at his native place Puduvayal.[1]