State Bank of India

Very good.

Good service

The 'Bank of Calcutta' was established on 2 June 1806 in Calcutta. It got the charter after three years and was reorganized as Bank of Bengal on 2 January 1809. It was a unique bank of its kind which was run by the Government of British India and Bengal on the common stock. Bank of Bombay and Bank of Madras started later. These three banks remained the principal banks of modern India until they were merged with the Imperial Bank of India (Hindi translation - Royal Bank of India) on 28 January 1921. In 1941, the foundation of the first five-year plan was laid in which emphasis was laid on the development of villages. Until this time, the business of Imperial Bank of India was limited to cities only. Therefore, in view of rural development, a bank that has access to the villages and which benefits the rural masses can be conceived. As a result, the State Bank of India was established on 1 July 1944, with the government holding 61.58%. [3] During its inception, the State Bank had a total of 60 offices, including branches, sub-branches and three local headquarters, which The headquarters of the Imperial Banks were built. RBI was established on 1 April 1935 on Young's recommendation in 1926 while it was nationalized on 1 January 1949. It is headquartered in Mumbai, the first Governor of the RBI is Sir Osborne Smith while the present Governor of this is Urjit Patel. Currently, the RBI incorporates notes from ₹ 2 to ₹ 2000 based on the Minimum Reserve System prevailing in 1957, while the ₹ 1 note is incorporated by the Government of India.