State Bank of India Stock Price History & Milestones

1955

Constituted on 1 July under State Bank of India Act, taking over Imperial Bank of India (founded 1921).
All Imperial Bank shares vested in RBI; SBI registered with authorised capital Rs 20 crore.
Issued 44,37,500 shares at Rs 160 premium; paid holders of Imperial Bank shares.

1959

State Bank of India (Subsidiary Banks) Act passed; State Bank of Hyderabad became first subsidiary.

1960

State Bank of Jaipur, Bikaner, Indore, Travancore, Mysore, Patiala, Saurashtra became subsidiaries.

1962

Amalgamated Bhor State Bank Ltd; approved Aundh Ltd; took over Unit Bank Ltd Chennai.

1963

London branch became banker to Indian High Commission.

1969

Amalgamated Bank of Behar Ltd.

1972

Set up merchant banking division.

1977

Introduced Perennial Pension Plan Scheme.
Launched integrated rural development programme.

1980

Introduced Cash Certificate Scheme.

1982

Set up Non-Resident Investment Cell.

1983

Launched self-employment scheme for educated unemployed youth.

1984

Provided rehabilitation assistance to sick industrial units.

1985

Set up data bank of sick units.
Amalgamated Bank of Cochin Ltd with 108 branches.

1986

Assisted 324 sick units worth Rs 1,069 crore.
Launched SBI Capital Markets subsidiary for leasing.

1987

Sponsored 30 Regional Rural Banks.
Overseas advances Rs 5,767 crore; investments Rs 2,670 crore.

1988

Initiated UPTECH for technology upgradation.
Launched Stree Shakti for women entrepreneurship.
Inaugurated SBINET communication network.
Sponsored 30 RRBs; opened 74 branches.

1989

SBICAP launched Magnum Monthly Income and Tax Saver schemes.
Launched India Magnum Fund with Morgan Stanley.

1990

Launched Regular Income Scheme and Pure Growth Scheme.
Launched Asian Convertible and Indian Fund.
Introduced SBI Green Card agricultural credit card.
SBIMF had Rs 475 crore investible funds.

1991

Set up SBI Factors and Commercial Services Pvt Ltd.

1992

Sponsored 30 RRBs with 3,189 offices.
Introduced Stockinvest scheme, Gyan Jyoti education loans, NRI branches.

1993

Established representative office in Tashkent.
Issued 124 million equity shares and Rs 500 crore bonds.
Proposed 120 million rights equity shares and employee shares.
250 sick units referred to BIFR.

1994

358 sick units referred to BIFR; 87 rehabilitation packages implemented.
Issued 1,80,463 abeyance shares.

1995

351 sick units referred to BIFR; 112 rehabilitation packages implemented.
Allotted 683 abeyance shares.

1996

Issued 261,45,000 GDRs equivalent to 5,22,90,000 equity shares.

1997

Issued rights for 12 crore equity shares.
Asian Development Bank to pick 15% in stockbroking subsidiary.
SBI Securities Ltd incorporated.
Tied up with GE Capital for credit card venture.
RBI directed $300 million stand-by for IOC.
Signed with NSDL for share dematerialisation; took 4.76% stake.
SBI Commercial and International Bank introduced optical disk storage.

1998

Kicked off credit card business with GE Capital JVs.
Signed exclusive agreement with Visa International.

1999

Mandated to syndicate $120 million NTPC loan.
Proposed entry into life and general insurance.
Tied up associate banks to market SBI Card.
Proposed ATM use for credit cards.
Tied up with Credit Suisse First Boston for gold assaying venture.
Decided to take over SBI Home Finance.
Signed with CDSL for share dematerialisation.
Agreement to reduce stake in investment banking subsidiary.
Entered agreement with Moody's for Icra stake.
Introduced convenience banking with FD rates and overdraft.

2000

Expanded ATM network in Hyderabad and Secunderabad.
First government-owned institution to declare interim dividend.
Proposed Rs 600 crore private placement bonds.
Launched Metal (Gold) Loan Scheme.
Formed SBI Gold and Precious Metals Pvt Ltd.
Vepa Kamesam appointed Managing Director.
Cleared IT subsidiary.
K.C. Raut took charge as GM Chennai.
First public sector bank to offer fixed-rate home loans.
Tied up with State Bank of Mysore for co-branded cards.
Signed agreement with CDSL as depository participant.
Signed MoU with Exim Bank US for $500 million.
Suresh Kumar Mehra ceased as Workmen Director.
Launched international credit card for doctors.
Introduced export boost scheme.
CRISIL assigned AAA to Rs 3,000 crore bonds.
Decided to close SBI European Bank Ltd London.
S. Mukerji retired as Managing Director.
SBI Mutual Fund launched Magnum Gilt Fund.

2001

Signed MoU with Cardif S.A. for life insurance.
Introduced Voluntary Retirement Scheme; 21,000 employees retired.
Incorporated SBI Life Insurance Company Ltd with 74% stake.
Installed additional ATMs in north-east and Bangalore.
Y. Radhakrishnan promoted to Managing Director.
SBI Cards set up insurance cell post-Gujarat earthquake.
Assigned HCL Com Net for ATM interconnectivity.
Madhav M. Mehta transferred to corporate office.
Launched SBI International and Global Cards.
Embarked on Rs 800 crore technology upgradation with KPMG.
Received JD Power awards for sales and financing satisfaction.
Added ATMs in Mumbai branches.
K.J. Udeshi nominated to Central Board.
Slashed home loan rates to 12%.
Distanced from subsidiaries granting autonomy.
Implemented VRS for award staff.
Set up Credit Information Bureau (India) Ltd JV.

2002

Set up Clearing Corporation of India Ltd as chief promoter.
E.K. Thakur resigned from directorship.
TCS bagged Rs 500 crore order.
A.C. Kalita ceased as director; Y. Radhakrishnan relinquished MD.
D.C. Gupta nominated as director.
S. Govindarajan relinquished MD; P.R. Khanna resigned.
Decided to close SBI Securities Ltd per RBI directive.
A.K. Batra and P.N. Venkatachalam appointed Managing Directors.
Prithvi Raj Khanna and Kumar Bery elected directors.
Ananta Chandra Kalita appointed director.
Janki Ballabh relinquished Chairman.
Vineeta Rai nominated as director.
A.K. Purwar appointed Chairman.

2003

Joint initiative with Maruti Udyog for affordable car finance.
Ananta Chandra Kalita appointed director.
SBI group's total profit Rs 3,354 crore in FY02.
D.C. Gupta nominated as director.
Introduced IT upgradation with KPMG.
SBI Cards launched Advantage Card and International Card.
Launched credit appraisal for SME loans up to Rs 25 lakh.
Selected TCS for trade finance solution.
Promoted three CGMs to DMDs.
S.K. Bhattacharya appointed CGM Hyderabad.
Increased stake in DFHIL to 51%, then 55.30%.
Tied up with Maruti Udyog for car finance; christened SBI-Maruti Finance.
Received IRDA permission for healthcare products.
Launched Plus schemes: Justice, Police, Teacher, Doctor.
Received RBI licence for OBUs in SEZs.
Launched SBI Bangalore card.
Unveiled Hyderabad card.
Ananta Chandra Kalita ceased as director.
Ordered 1,500 ATMs from NCR.
Orange tied up for prepaid card refills.
Roped in McKinsey for BPR.
Launched charter for SSIs.
NPAs slashed to 4.5%; wrote off Rs 4,000 crore.
Forayed into stock market; price crossed Rs 400.
A.K. Batra ceased as director.
Planned scheme for Resurgent India Bonds.
N.S. Sisodia nominated as director.
Inked agreements with employees' unions on computerisation.
SBI, AirTel launched mobility service.
Arun Singh nominated as director.
Consummated $100 million syndicate loan to IPCL with ANZ.
Opened cheque clearing centre in Kolkata.
Inked pact with M&M for SBI-Mahindra Tractor Plus.
Tied up with TAFE for tractor loans.
Launched insurance scheme in Kerala.
Unveiled Credit Khazana loan product.
Unveiled e-Rail online ticket system.
RBI nominated Rakesh Mohan to Central Board.
C. Narasimhan appointed CGM Kerala Circle.
MRO-TEK secured Rs 15 crore order for networking.
Tied up with LIC for investments.
Tied up with Bajaj Auto for two-wheelers.
Granted Rs 125 crore loan to Nethaji Apparel park.
Tied up with TVS Motor for two-wheeler loans.
Tied up with Apollo Hospitals for treatment financing.
Launched mobile prepaid recharge at ATMs.
Tied up with ICICI Bank and HDFC for ATM sharing.
Entered MoU with ICICI and HDFC for ATM sharing.
Chandan Bhattacharya appointed Managing Director.
Announced special loan package for BSNL employees.

2004

Former KCCI President nominated to Bangalore Local Board.
A.V. Sardesai nominated to Central Board.
Set up ATM in Ernakulam.
Received in-principle licence from Bahrain Monetary Agency.
Set up India's first drive-in ATM in Hyderabad.
Entered ATM sharing alliance with HDFC Bank.
Unveiled new branch in Manjeri.
Awarded prize for lending to women SHGs.
Unveiled floating ATM.
Appointed six new Deputy Managing Directors.
GAIL tied up for e-banking.
Tied up with Visa for travel card.
Entered ATM sharing with UTI Bank and HDFC Bank.
Signed MoU with Jain Irrigation for farm loans.
Tied up with Siemens for medical equipment financing.
Launched SBI-VST Shakti loan for farm mechanisation.
Unveiled Vishwa Yatra foreign travel card.
Tied up with Same Deutz-Fahr for tractor financing.
Allied with Sikkim govt for SMEs.
Chosen for channelising government credit abroad.
Opened MICR cheque processing center.
Signed MoU with HMT for tractor financing.
Deployed Flexcube core banking in Frankfurt.
Ashok K. Kini appointed Managing Director.
Unveiled Foreign Travel card in Orissa.
ICICI, SBI, LIC in pact for Rs 20,000-cr projects.
Reliance Infocomm in ATM pact.
Tied up with New India Assurance for insurance in Karnataka.
Unveiled new credit card in Ahmedabad.
Joined billion dollar club.
Opened 236th branch in Tripunithura.
Inaugurated first Internet shoppe in Kochi.
Opened computerised branch in Karunagappally.
Signed MoU with L&T-John Deere for tractor finance.
Bought 10% stake in Multi Commodity Exchange for Rs 2.1 crore.
Tied up with Hero Honda for co-branded credit card.
Launched first mobile ATM.
Signed MoU with Societe Generale Asset Management for mutual fund stake.
Unveiled Nursing Plus educational loan scheme.
Forged alliance with Hero Honda.
Offered School Plus scheme for schools.
SBI Card launched Instant Card.
Selected Finacle for international operations.
Entered ATM tie-up with Andhra Bank.
Tied up with LIC for infrastructure funding.
Signed MoU with Tata Motors.
Partnered with Eicher Motors.

2005

Raj Travels tied up for travel loans.
Opened branch in Vadakara.
Tied up with Apollo Health for loans.
Rolled out new loan scheme.
Opened first branch in Lakshadweep's Kavaratti.
Entered ATM sharing agreement with PNB.
Signed MoU with Corporation Bank for ATM sharing.
Entered agreement with BPCL for card usage at fuel stations.
Launched mortgage loan scheme for traders.
Launched SBI card in Madurai.
Inaugurated RBO in Thrissur.
Signed MoU with SIDBI for co-financing SMEs.
Signed MoU with Crisil for rating SSI borrowers.
NSIC tied up for SSI credit.

2006

Teamed with Nihilent for feedback system.
Yogesh Agarwal appointed Managing Director.

2007

S.K. Bhattacharya appointed Managing Director.
Opened first foreign bank branch in Israel's diamond exchange.

2008

Arun Ramanathan nominated as director.
Vasantha Bharucha nominated as part-time non-official director.
Rajiv Kumar nominated as part-time non-official director.
Signed JV agreement with Insurance Australia Group for general insurance.
Rolled out micro insurance scheme Grameen Shakti for SHGs.
Issued rights in 1:5 ratio at Rs 1,580 premium per share.

2009

Slashed BPLR to 11.75%.
Launched SBI Easy Home Loan and SBI Advantage Home Loan.
Entered agreement with Gujarat government for Rs 5,000 crore infra fund.

2010

Launched chip and PIN-based Platinum Debit Card.
Arun Kumar Agarwal appointed General Manager, Kerala Circle.
Signed pact with UIDAI as registrar for UID registration.
Opened exclusive HNI branch in Hyderabad.
Acquired State Bank of Indore.
Signed JV agreement with State General Reserve Fund, Oman.
Formed JV with Elavon and Visa for merchant acquiring.
Launched concessional banking scheme for Air Force personnel.

2011

Entered joint venture with Bharti Airtel for banking services.
Acquired SBI Commercial and International Bank.
Shifted Shares & Bonds Dept to new address in Mumbai.
P. Choudhary appointed as chairman.
Signed membership agreement with Experian Credit Information.

2012

Signed preliminary non-binding MoU with Russian Direct Investment Fund.
Entered agreement with StarAgri for warehousing receipt financing.
Launched virtual debit cards to prevent online fraud.
Planned cuts to home loan processing and conversion fees.

2013

Inaugurated second branch in Tianjin, China.
Issued 5-year bonds.
Planned 100 branches in Andhra Pradesh.
Introduced smart prepaid card for students and blue-collar workers.
Collaborated with AMW Motors for vehicle financing.
Launched 10 branches in Raebareli.

2014

Announced 150% interim dividend.
Launched digital online and self-service banking solutions with Accenture.
Unveiled 6 digital branches.
Launched Tech Learning Centres for customers.
Split face value from Rs 10 to Rs 1.

2015

Launched RuPay Platinum debit card with NPCI.
Established foundation for group CSR activities.
Introduced online overdraft facility against fixed deposits.
Partnered with Amazon.
Signed MoU with PayPal for cross-border transactions.
Launched SBI eforex.
Launched doorstep services for home loan applications.
Jointly launched cyber crime awareness campaign.

2016

Opened first branch in South Korea.
Launched new home loan plan for executives.
Cut home loan interest rate to 9.45%.
Government directed merger of five associate banks.
Launched mVisa.
Launched debit card-less instant money transfer facility.
Received Rs 83,702 crore deposits in five days post-demonetisation.
Entered talks with Microsoft for digital banking in rural areas.

2017

Acquired State Bank of Travancore, State Bank of Patiala, State Bank of Hyderabad, State Bank of Bikaner & Jaipur, State Bank of Mysore.
Acquired Bhartiya Mahila Bank.
Became lead bank for Kalimpong district, West Bengal.
Launched co-branded credit card with BPCL.
Created wholly-owned subsidiary for real estate management.
Received Golden Peacock Award for Excellence in Corporate Governance.
Inaugurated Bank of Bombay Heritage Gallery 'Down Memory Lane'.
Launched generic Top Level Domain website bank.sbi.
Signed $274 million agreement with KfW for affordable housing.

2018

Launched Global NRI Centre in Kochi.
Launched digital transaction initiative MOPAD.
Ranked as India's most patriotic brand.

2019

Became first Indian bank with office in Australia's Victoria.
SBI Card launched contactless mobile phone payments facility.
Launched YONO digital banking app in UK.

2020

Won three awards at Digixx 2020 Virtual Summit.
State Bank Bhavan awarded Performance Challenge Award 2020 by Indian Green Building Council.

2021

Recognized as Iconic Brand of India 2021 by The Economic Times.

2022

Raised Rs. 10,000 crore for infrastructure and affordable housing.
Signed Rs 1,240 crore loan agreement with Germany's KfW for solar projects.
Acquired 13.82% equity stake; now holds 100% in SBI Global Factors via subscription of 15,98,85,365 shares.

2023

Signed USD 165 million World Bank Line of Credit for grid-connected rooftop solar PV projects in residential sector.
Signed EURO 70 million KfW Line of Credit for solar projects.
Entered agreement to purchase 40% stake in Commercial Indo Bank LLC (CIBL), Moscow, from Canara Bank.

2024

Signed EURO 150 million KfW Line of Credit for climate-friendly energy generation projects.

State Bank of India

Company History