State Bank of India IFSC Code
The SBI is an Indian multinational public sector banking and financial service banking. This is Government-owned Corporation. The bank has its headquarters in Mumbai, Maharashtra. Rajnish Kumar is the Chairman of the Bank. The bank along with its 5 associate banks (State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore) merged with the Bharatiya Mahila Bank. The bank was founded on 2nd June 1806 as Bank of Calcutta making it the oldest commercial bank and later was nationalized on 2nd June 1956. With the merger, the bank will enter the league of top 50 Global banks with a balance sheet size of 33 trillion. The company is ranked 232nd on the Fortune Global 500 list of the world’s biggest corporations as of 2016.
The bank has a network of more than 24,000 branches, 59,000 ATMs. It has 198 offices in 37 countries and it has the largest number of the employers in the country with 209, 567 number of employees as on March 2017.
State Bank of India
The State Bank of India offers different funds transfer methods such as NEFT, RTGS, IMPS, and MICR. The Real Time Gross Settlements (RTGS) and the Magnetic Ink Character Recognition (MICR) are the money transfer methods. These are fast, safe and secure. These transactions use IFSC Codes that are unique to every individual bank branch. The IFSC Codes plays a vital role in the online transactions.
The IFSC Code is an 11-digit alphanumeric code which consists of the bank name and branch code or ID. The first four characters of the code are in alphabets which represent the bank name, and the last six digits which are usually the numbers represents the name of the bank. The IFSC Code of State Bank of India is SBIN.
Example: SBIN0000733 is the IFSC Code of State Bank of India Delhi Cantt Branch. Where the last six digits represent the branch code of the Bank. The MICR Code of the Delhi Cantt SBI Branch is 110002027.
Products and Services
The Bank offers a wide range of Products and services. They are Consumer banking, Corporate Banking, Finance and Insurance, Investment Banking, Mortgage Loans, Private Banking, Private Equity, Savings, Securities, Asset Management, Wealth Management, Credit Cards.
Awards and Achievements
- The SBI bank is top-ranked in the Top Bank in India in Tier 1 capital by the Banker Magazine.
- Ranked 232nd in Fortune Global 500 rankings of the world’s biggest corporations of the year 2016.
- Ranked 29th as the most reputed company in the worlds according to the Forbes in 2009.
- The bank is the 50th most trusted bank in India according to the Brand Trust Report in 2013.
