CURRENT AFFAIRS

Detailed explanation-1: -State Bank of India announced the launch of the fourth phase of the ‘SBI Gram Seva’ program, adopting 30 remote villages in Haryana, Gujarat, Maharashtra, Punjab, Tamil Nadu, and West Bengal on the occasion of Gandhi Jayanti.

Detailed explanation-2: -Evolution Of SBI. The origin of the State Bank of India goes back to the first decade of the nineteenth century with the establishment of the Bank of Calcutta in Calcutta on 2 June 1806. Three years later the bank received its charter and was re-designed as the Bank of Bengal (2 January 1809).

Detailed explanation-3: -On 1 July 1955, the Imperial Bank of India became the State Bank of India.

Detailed explanation-4: -Pure Banking, Nothing Else is the slogan of the State Bank of India (SBI).

Detailed explanation-5: -General Banking Functions It accepts the deposits from the people in the form of savings, fixed, current, and recurring deposit accounts. Based on the security of stocks, securities, SBI gives advances and loans to the public. SBI gives the facility of drawings, accepting, and buying and selling the bills of exchange.