What it Does: State Bank of India is India's largest bank by assets and a government-owned corporation. It is also the largest bank in the world by assets. The company offers banking, life insurance, and wealth management services to corporate and retail customers through a network of approximately 18,500 branches and over 20000 ATMs across India.
Mission: The State Bank of India’s goal is to provide banking services to customers across the country and help them take advantage of their growth opportunities.
Size and Presence: State Bank of India has over 18,000 branches, including about 200 overseas offices in 25 countries and over 55,000 ATM kiosks. The bank has more than 1.7 million employees and serves over 6 billion customers.
Best Known For: State Bank of India is most famous for its Pradhan Mantri Jan Dhan Yojana (PMJDY). This scheme aims at providing financial inclusion to all households in the country with bank accounts.
The Good Bits: The most significant advantage of working here is that you have the opportunity to learn new things every day, and it keeps your mind active all the time. The bank is also very transparent in terms of communication and never hides information from customers.
The State Bank of India was established on 1st April 1955 by an Act of Parliament. The Bank is a Central Public Sector Enterprise (CPSE) under the Ministry of Finance, Government of India. State Bank of India was born out of the nationalization movement in the banking sector and is a pioneer in the Indian banking industry.
The State Bank of India's company culture and vibe are very positive, encouraging, and professional. Employees have always enjoyed working here because they provide the tools and resources they need to do their jobs well. They also ensure that employees can reach out to them when in need of help or advice.
Candidates can apply online for a post by registering on the SBI website using their credentials like email ID and mobile number. They will be notified when their application has been accepted or rejected by email or SMS. Once they are shortlisted after an interview round, they will be called for another round where they will have to undergo physical tests like medical tests and psychometric tests that measure the aptitude, intelligence, and personality traits of the candidate.
The State Bank of India has a huge scope for career growth and professional development through various training programmes. The company offers multiple opportunities for learning and growing as an employee, including training and development programmes, mentoring sessions, training programmes for promotion to higher positions, etc.
State Bank of India employee salary ranges from INR 1,70,000 to INR 44,00,000. As per information available, the annual average salary for a deputy manager is about INR 11,00,000. The average yearly salary for a chief manager at the State Bank of India is INR 18,00,000. The salary may not be the best compared to other banks, but it has additional benefits.
The bank has been contributing to social causes by providing financial assistance to various government initiatives like the Swachh Bharat Abhiyan and Beti Bachao Beti Padhao. The company also supports education projects such as the Prarambh initiative for underprivileged children and the Nai Manzil scheme for girls' education.