2006 - State Bank of India | Commemorative Coin

The first commemorative coin for the year 2006 was to mark 200 years of State Bank of India.

The State Bank of India (SBI), headquartered in Mumbai, is the largest Indian banking and financial services company in terms of turnover and total assets. As a state-owned entity, it has a rich heritage dating back to British India, originating from the founding of the Bank of Calcutta in 1806, making it the oldest commercial bank in the Indian Subcontinent. The bank's lineage can be traced through the Imperial Bank of India, formed by the merger of the Bank of Calcutta, Bank of Bombay, and Bank of Madras. This institution eventually evolved into the State Bank of India.

In 1955, the government of India nationalized the Imperial Bank of India, with the Reserve Bank of India acquiring a 60% stake, and subsequently renamed it the State Bank of India. In 2008, the government assumed control of the stake held by the Reserve Bank of India.

SBI offers a comprehensive range of banking products through an extensive network of branches, both in India and overseas. The State Bank Group, boasting over 16,000 branches, holds the distinction of having the largest banking branch network in India. With 14 Local Head Offices, 57 Zonal Offices strategically located in key cities across the country, and around 130 branches overseas, SBI plays a pivotal role in shaping the financial landscape both domestically and internationally.

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