Bi-centennial celebrations of SBI inaugurated

Similar functions planned in all State capitals, says SBI Managing Director K. Ashok Kini

Special Correspondent

BANGALORE: State Bank of India, which traces its history to the founding of the Bank of Calcutta in 1806, had its bi-centennial celebrations flagged off here on Friday by Governor T.N. Chaturvedi.

SBI Managing Director K. Ashok Kini said similar celebrations were planned in all State capitals and the event here was a joint effort with its affiliate State Bank of Mysore, with its origins in 1915 with a bank created by M. Visvesvaraya.

"The venture started by Scottish bankers and Calcutta merchants has today grown to a large network with 25 per cent share of the banking business in the country. We are a bank of substance not glamour but readily adopting new technology and have the largest linked ATMs in the country. The State Bank belongs to all Indians," Mr. Kini said.


The Governor handed over trophies to 10 women's self-help groups in the State, selected by the SBI and SBM for their efforts for empowerment of rural women. Nearly 14,000 SHGs have been financed Rs. 65 crores by the SBI and SBM in Karnataka and the target is to reach 4,000 more groups this year.

Mr. Chaturvedi recalled his own association with what was Imperial Bank of India before it became nationalised in 1955.

"It is good to see you have third and fourth generation clientele. The SBI is distinguished by its ethical approach to business and transparency in its transactions. It also reaches out to the underprivileged sections; a few islands of prosperity will not last as SBI knows," he said.

Y. Vijay Anand, Managing Director, State Bank of Mysore, said the State Bank group had 13,800 offices within India and 80 overseas.

The expansion plans had resulted in the acquisition of a bank in Mauritius recently. R. Sreedharan, Chief General Manager, SBM, thanked the customers for their loyalty which had helped the group grow to become the largest banker in the country and listed among the top 100 banks in the world.

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