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83-582: Om Prakash Bhasin Awards have been instituted by Shri Om Prakash Bhasin Foundation, a New Delhi-based charitable organization founded by Vinod Bhasin, along with her two sons, Shivy Bhasin and Hemant Kumar Bhasin, to honour the memory of her husband, Om Prakash Bhasin, a non resident Indian businessman. The corpus for the award of ₹ 5,100,000 was formed by Om Prakash Bhasin as a trust before his death. The awards, started in 1985, are given in five categories. The selection

166-454: A writ petition at the filing counter of the court or by addressing a letter to the Chief Justice of India , highlighting the question of public importance for redress. These are known as public interest litigations . India has a quasi-federal form of government, called "union" or "central" government, with elected officials at the union, state and local levels. At the national level,

249-555: A NDA -led government (a coalition of the BJP and its allies) since 2014. The prime minister and their senior ministers belong to the Union Council of Ministers —its executive decision-making committee being the cabinet . The government, seated in New Delhi , has three primary branches: the legislative, the executive and the judiciary, whose powers are vested in a bicameral Parliament ,

332-470: A Prime Minister and a Governor-General as the viceregal representative of the head of state, George VI . Its unicameral legislature, the Constituent Assembly , was tasked with drafting the country's constitution. The Constitution of India came into effect on 26 January 1950 , making India a republic with a president as head of state, replacing the monarch and his viceregal representative,

415-508: A prime minister , and the Supreme Court respectively, with a president as head of state. The Council of Ministers are responsible to the House in which they sit, they make statements in that House and take questions from fellow members of that House. For most senior ministers this is usually the directly elected Lok Sabha rather than the (mostly) indirectly elected Rajya Sabha . As

498-566: A 25% share of the total loan and deposits market. It is also the tenth largest employer in India with nearly 250,000 employees. In 2024, the company’s seat in Forbes Global 2000 was 55. On 14 September 2022, State Bank of India became the third lender (after HDFC Bank and ICICI Bank ) and the seventh Indian company to cross the ₹ 5 trillion market capitalization on the Indian stock exchanges for

581-502: A constitutional crisis. Thus, in practice, the Council of Ministers cannot be dismissed as long as it holds the support of a majority in the Lok Sabha . The President is responsible for appointing many high officials in India. These high officials include the governors of the 28 states ; the chief justice ; other judges of the supreme court and high courts on the advice of other judges;

664-515: A market cap of ₹7.276 Trillion. This makes it the world's 200th most valuable company by market cap. The Reserve Bank of India (RBI) has identified SBI, HDFC Bank , and ICICI Bank as Domestic Systemically Important Banks (D-SIBs), which are often referred to as banks that are " too big to fail ". The bank descends from the Bank of Calcutta , founded in 1806 via the Imperial Bank of India , making it

747-478: A member of one of the houses of the parliament. The cabinet is headed by the prime minister , and is advised by the cabinet secretary , who also acts as the head of the Indian Administrative Service and other civil services. Other members of the council are either union cabinet ministers, who are heads of various ministries; or ministers of state, who are junior members who report directly to one of

830-471: A quarter of the 543 elected members of parliament had been charged with crimes, including murder. Many of the biggest scandals since 2010 have involved high-level government officials, including cabinet ministers and chief ministers, such as the 2010 Commonwealth Games scam ( ₹ 700 billion (equivalent to ₹ 1.6 trillion or US$ 19 billion in 2023)), the Adarsh Housing Society scam ,

913-507: A vote in the house where he is not a member. A secretary to the Government of India , a civil servant , generally an Indian Administrative Service (IAS) officer, is the administrative head of the ministry or department, and is the principal adviser to the minister on all matters of policy and administration within the ministry/department. Secretaries to the Government of India rank 23rd on Indian order of precedence . Secretaries at

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996-530: A whole is responsible to the Lok Sabha. The Lok Sabha is a temporary house and can be dissolved only when the party in power loses the support of the majority of the house. The Rajya Sabha is a permanent house and can never be dissolved. The members of the Rajya Sabha are elected for a six-year term. The executive of government is the one that has sole authority and responsibility for the daily administration of

1079-475: Is bicameral in nature, with the Lok Sabha being the lower house , and the Rajya Sabha the upper house . The judiciary systematically contains an apex supreme court , 25 high courts , and hundreds of district courts , all subordinate to the supreme court. The basic civil and criminal laws governing the citizens of India are set down in major parliamentary legislation, such as the civil procedure code ,

1162-689: Is a constituent of the BSE SENSEX index, and the National Stock Exchange of India , where it is a constituent of the CNX Nifty . Its Global Depository Receipts (GDRs) are listed on the London Stock Exchange . SBI is one of the largest employers in the world with 232,296 employees as of 31 March 2024. Out of the total workforce, the representation of women employees is nearly 27%. The percentage of officers, associates, and subordinate staff

1245-529: Is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra . It is the 48th largest bank in the world by total assets and ranked 178th in the Fortune Global 500 list of the world's biggest corporations of 2024, being the only Indian bank on the list. It is a public sector bank and the largest bank in India with a 23% market share by assets and

1328-460: Is considered the lower house . The parliament does not have complete control and sovereignty , as its laws are subject to judicial review by the Supreme Court . However, it does exercise some control over the executive . The members of the Council of Ministers , including the prime minister , are either chosen from parliament or elected there within six months of assuming office. The council as

1411-575: Is the ex-officio head of the Civil Services Board, the Cabinet Secretariat , the Indian Administrative Service (IAS) and the head of all civil services under the rules of business of the government. The cabinet secretary is generally the senior-most officer of the Indian Administrative Service . The cabinet secretary ranks 11th on the Indian order of precedence . The cabinet secretary

1494-411: Is the case in most parliamentary systems, the government is dependent on Parliament to legislate, and general elections are held every five years to elect a new Lok Sabha . The most recent election was in 2024 . After an election, the president selects as prime minister the leader of the party or alliance most likely to command the confidence of the majority of the Lok Sabha . In the event that

1577-403: Is the chief executive of the government and the leader of the majority party that holds a majority in the Lok Sabha. The prime minister leads the executive of the Government of India. The prime minister is the senior member of the cabinet in the executive government in a parliamentary system. The prime minister selects and can dismiss other members of the cabinet; allocates posts to members within

1660-1032: Is through a notified procedure and is decided by a committee appointed for the purpose. The committee includes the Chairman of the foundation, two trustees representing the foundation, a member of the scientific community and a representative of the State Bank of India , the bankers to the foundation. The incumbent committee members are: Source: Shri Om Prakash Bhasin Foundation Source: Shri Om Prakash Bhasin Foundation |2020 || Asad Ullah Khan |} Source: Shri Om Prakash Bhasin Foundation Source: Shri Om Prakash Bhasin Foundation Source: Shri Om Prakash Bhasin Foundation State Bank of India bank .sbi State Bank of India ( SBI )

1743-584: Is to act following aid and advice tendered by the Prime Minister, who leads the Council of Ministers as described in Article 74 of the Constitution . The council of ministers remains in power during the 'pleasure' of the president. However, in practice, the council of ministers must retain the support of the Lok Sabha. If a president were to dismiss the council of ministers on his or her initiative, it might trigger

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1826-509: Is under the direct charge of the prime minister . Presently, the Cabinet Secretary of India is Rajiv Gauba , IAS . India's independent union judicial system began under the British, and its concepts and procedures resemble those of Anglo-Saxon countries . The Supreme Court of India consists of the chief justice and 33 associate justices, all appointed by the president on the advice of

1909-414: The Bank of Calcutta (later renamed the Bank of Bengal ) was established on 2 June 1806. The Bank of Bengal was one of three Presidency banks, the other two being the Bank of Bombay (incorporated on 15 April 1840) and the Bank of Madras (incorporated on 1 July 1843). All three Presidency banks were incorporated as joint stock companies and were the result of royal charters . These three banks received

1992-481: The Chief Justice of India and 33 sanctioned other judges, it has extensive powers in the form of original , appellate and advisory jurisdictions . As the final court of appeal of the country, it takes up appeals primarily against verdicts of the high courts of various states of the Union and other courts and tribunals. It safeguards fundamental rights of citizens and settles disputes between various governments in

2075-447: The Chief Justice of India . The jury trials were abolished in India in the early 1960s, after the famous case KM Nanavati v. the State of Maharashtra , for reasons of being vulnerable to media and public pressure, as well as to being misled. Unlike its United States counterpart, the Indian justice system consists of a unitary system at both state and union levels. The judiciary consists of

2158-621: The Council of State of 60 members (of which 34 were elected and 26 nominated). The next structural modification to the governance of British India , the Government of India Act 1935 (the longest Act of Parliament of the United Kingdom until surpassed by the Greater London Authority Act 1999 ) was aimed at devolution of powers by establishing provincial governments and the creation of civil service institutions . However, it

2241-526: The Governor-General . It was based in large part on the Government of India Act 1935 , which was itself based on the uncodified constitution of the United Kingdom . It also drew notable inspirations from the constitutions of several other Commonwealth dominions and the French , Soviet , Japanese , German and American constitutions. India today prides itself in being the world's largest democracy , and

2324-478: The Indian Armed Forces . The President of India can grant a pardon to or reduce the sentence of a convicted person once, particularly in cases involving the punishment of death. The decisions involving pardoning and other rights by the president are independent of the opinion of the prime minister or the Lok Sabha majority. In most other cases, however, the president exercises his or her executive powers on

2407-727: The Reserve Bank of India , which is India's central bank , acquired a controlling interest in the Imperial Bank of India. On 1 July 1955, the Imperial Bank of India became the State Bank of India. In 2008, the Government of India acquired the Reserve Bank of India's stake in SBI to remove any conflict of interest because the RBI is the country's banking regulatory authority. In 1959, the government passed

2490-856: The Reserve Bank of India ’s Liberalised Remittance Scheme (LRS) more transparent. On September 30, 2024, SBI card partnered with Singapore Airlines for KrisFlyer Credit card which can be an attractive choice for frequent travelers. SBI provides a range of banking products through its network of branches in India and overseas, including products aimed at non-resident Indians (NRIs). Concerning domestic banking business, SBI has 17 regional hubs known as local head offices (LHOs), under whom are 57 administrative offices (AOs), that are located in important cities throughout India, under whom are furthermore administrative sub-offices known as regional business offices (RBOs), with each RBO having, under its direct administrative control, some 40 to 50 branches. As per SBI Official website data, SBI has 22,405 branches in India. In

2573-478: The Supreme Court of India , high courts at the state level, and district courts and Sessions Courts at the district level. The Supreme Court of India is situated in New Delhi , the capital region of India . The Supreme Court is the highest judicial forum and final court of appeal under the Constitution of India , the highest constitutional court, with the power of constitutional review . Consisting of

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2656-641: The Union Government or Union of India and colloquially known as the Central Government ) is the government of the Republic of India , located in South Asia , consisting of 36 states and union territories . The government is led by the prime minister (currently Narendra Modi since 26 May 2014) who exercises the most executive power and selects all the other ministers . The country has been governed by

2739-550: The attorney general ; the comptroller and auditor general ; the chief election commissioner and other election commissioners ; the chairman and members of the Union Public Service Commission ; the officers of the All India Services ( IAS , IFoS and IPS ) and Central Civil Services in group 'A'; officers of the Indian Armed Forces ; and the ambassadors and high commissioners to other countries on

2822-473: The constitution empowers the union government to levy income tax , tax on capital transactions ( wealth tax , inheritance tax ), sales tax , service tax, customs and excise duties and the state governments to levy sales tax on intrastate sale of goods, taxon entertainment and professions , excise duties on manufacture of alcohol , stamp duties on transfer of property and collect land revenue (levy on land owned). The local governments are empowered by

2905-421: The executive , the legislature , and the judiciary , and powers are vested by the constitution in the prime minister , parliament , and the supreme court , respectively. The president of India is the head of state and the commander-in-chief of the Indian Armed Forces , while the elected prime minister acts as the head of the executive and is responsible for running the Union government. Parliament

2988-516: The head of government , the prime minister , is appointed by the president of India from the party or coalition that has the majority of seats in the Lok Sabha . The members of the Lok Sabha are directly elected for a term of five years by universal adult suffrage through a first-past-the-post voting system. Members of the Rajya Sabha , which represents the states , are elected by the members of State legislative assemblies by proportional representation , except for 12 members who are nominated by

3071-472: The penal code , and the criminal procedure code . Similar to the Union government, individual state governments each consist of executive, legislative and judiciary branches. The legal system as applicable to the Union and individual state governments is based on the English common and Statutory Law . The full name of the country is the Republic of India . India and Bharat are equally official short names for

3154-646: The prime minister is not a member of either House upon appointment, he/she is given six months to be elected to either House of Parliament . The first seeds of responsible government during British colonial rule in India were sown by the Indian Councils Act 1909 , commonly known as the Morley - Minto reforms. The Act introduced elections to the Imperial Legislative Council (then the unicameral Legislature for British India). Before that, governance

3237-463: The 4th largest economy in the world. Even though much remains to be done, especially in regard to eradicating poverty and securing effective structures of governance, India's achievements since independence in sustaining freedom and democracy have been singular among the world's new nations. The Government of India is modelled after the Westminster system . The Union government is mainly composed of

3320-462: The Government; is the presiding member and chairman of the cabinet and is responsible for bringing a proposal of legislation. The resignation or death of the prime minister dissolves the cabinet. The prime minister is appointed by the president to assist the latter in the administration of the affairs of the executive. The Union Council of Ministers includes the prime minister, Cabinet Ministers and Ministers of State (MoS). Each minister must be

3403-466: The Imperial Bank of India in 1955, with Reserve Bank of India (India's central bank) taking a 60% stake, renaming it State Bank of India. On 16 August 2022, in an attempt to facilitate and support India's start-ups , SBI announced the launch of its first "state-of-the-art" dedicated branch for start-ups in Bengaluru . The roots of the State Bank of India lie in the first decade of the 19th century when

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3486-948: The Indo–Nigerian Merchant Bank and received permission in 2002 to commence retail banking. It now has five branches in Nigeria. In Moscow, SBI owns 60% of Commercial Bank of India , with Canara Bank owning the rest. In Indonesia, it owns 76% of PT Bank Indo Monex. State Bank of India already has a branch in Shanghai and plans to open one in Tianjin . In Kenya, State Bank of India owns 76% of Giro Commercial Bank , which it acquired for US$ 8 million in October 2005. SBI South Korea In January 2016, SBI opened its first branch in Seoul , South Korea. SBI South Africa SBI UK Ltd SBI USA In 1982,

3569-606: The Maharaja. The new bank's first manager was Jall N. Broacha. In 1985, SBI acquired the Bank of Cochin in Kerala , which had 120 branches. SBI was the acquirer as its affiliate, the State Bank of Travancore , already had an extensive network in Kerala. National Institute of Design, Ahmedabad designed the SBI logo in 1971. The logo was designed by Shekhar Kamat and the logotype in 14 Indian languages

3652-479: The Republic of India in the Constitution, and both names appears on legal banknotes, in treaties and in legal cases. The terms "Union government", "central government" and " bhārat sarkār " are often used officially and unofficially to refer to the government of India. The term New Delhi is commonly used as a metonym for the Union government, as the seat of the central government is in New Delhi . The powers of

3735-726: The SBI was given an in-principle approval by the Union Cabinet on 15 June 2016. This came a month after the SBI board had, on 17 May 2016, cleared a proposal to merge its five associate banks and Bharatiya Mahila Bank with itself. On 15 February 2017, the Union Cabinet approved the merger of five associate banks with SBI. An analyst foresaw an initial negative impact as a result of different pension liability provisions and accounting policies for bad loans. The merger went into effect from 1 April 2017. Apart from five of its associate banks (merged with SBI on 1 April 2017), SBI's non-banking subsidiaries include: In March 2001, SBI (with 74% of

3818-548: The State Bank of India (Subsidiary Banks) Act. This made eight banks that had belonged to princely states into subsidiaries of SBI. This was at the time of the First Five-Year Plan, which prioritised the development of rural India. The government integrated these banks into the State Bank of India system to expand its rural outreach. In 1963 SBI merged the State Bank of Jaipur (est. 1943) and State Bank of Bikaner (est.1944). SBI has acquired local banks in rescues. The first

3901-492: The absorption of State Bank of Indore , in which SBI held 98.3%. (Individuals who held the shares before their takeover by the government held the balance of 1.7%.) The acquisition of State Bank of Indore added 470 branches to SBI's existing network of branches. Also, following the acquisition, SBI's total assets approached ₹ 10 lakh crore. The total assets of SBI and the State Bank of Indore were ₹ 9.98 lakh crore as of March 2009. The process of merging of State Bank of Indore

3984-488: The advice of the prime minister. Presently, the President of India is Droupadi Murmu . The vice president is the second-highest constitutional position in India after the president. The vice president represents the nation in the absence of the president and takes charge as acting president in the incident of resignation impeachment or removal of the president. The vice president also has the legislative function of acting as

4067-535: The associate banks started in 2008, and in September of the same year, SBS merged with SBI. The very next year, the State Bank of Indore (SBN) also merged. Following a merger process, the merger of the 5 remaining associate banks, (viz. State Bank of Bikaner and Jaipur , State Bank of Hyderabad , State Bank of Mysore , State Bank of Patiala , State Bank of Travancore ); and the Bharatiya Mahila Bank ) with

4150-634: The bank established a subsidiary, State Bank of India , which now has ten branches—nine branches in the state of California and one in Washington, D.C. The 10th branch was opened in Fremont, California on 28 March 2011. The other eight branches in California are located in Los Angeles, Artesia, San Jose, Canoga Park, Fresno, San Diego, Tustin and Bakersfield. SBI acquired the control of seven banks in 1960. They were

4233-401: The bank had 191 overseas offices spread over 36 countries having the largest presence in foreign markets among Indian banks. In Nepal, SBI owns 55% of the share. (The state-owned Employees Provident Fund of Nepal owns 15% and the general public owns the remaining 30%.) Nepal SBI Bank Limited has branches throughout the country. In Nigeria, SBI operates as INMB Bank. This bank began in 1981 as

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4316-526: The budget will be presented on the 1st day of February. The budget has to be passed by the Lok Sabha before it can come into effect on 1 April, the start of India's fiscal year . The Union budget is preceded by an economic survey which outlines the broad direction of the budget and the economic performance of the country for the outgoing financial year India's non-development revenue expenditure had increased nearly five-fold in 2003–04 since 1990–91 and more than tenfold from 1985 to 1986. Interest payments are

4399-431: The cabinet ministers, often overseeing a specific aspect of government; or ministers of state (independent charges), who do not report to a cabinet minister. As per article 88 of the constitution, every minister shall have the right to speak in, and to take part in the proceedings of, either house, any joint sitting of the houses, and any committee of parliament of which he may be named a member, but shall not be entitled to

4482-422: The chairman of the Rajya Sabha . The vice president is elected indirectly by members of an electoral college consisting of the members of both the houses of the parliament following the system of proportional representation employing the single transferable vote and the voting is by secret ballot conducted by the election commission . The Prime Minister of India , as addressed in the Constitution of India ,

4565-400: The country. As an advisory court, it hears matters which may specifically be referred to it under the constitution by the president. It also may take cognisance of matters on its own (or 'suo moto'), without anyone drawing its attention to them. The law declared by the supreme court becomes binding on all courts within India and also by the union and state governments. Per Article 142 , it is

4648-471: The duty of the president to enforce the decrees of the supreme court. In addition, Article 32 of the constitution gives an extensive original jurisdiction to the supreme court concerning enforcing fundamental rights. It is empowered to issue directions, orders or writs, including writs in the nature of habeas corpus , mandamus , prohibition , quo warranto and certiorari to enforce them. The supreme court has been conferred with power to direct

4731-494: The exclusive right to issue paper currency till 1861 when, with the Paper Currency Act, the right was taken over by the Government of India. The Presidency banks amalgamated on 27 January 1921, and the re-organised banking entity took as its name Imperial Bank of India . The Imperial Bank of India remained a joint-stock company but without Government participation. Under the provisions of the State Bank of India Act of 1955,

4814-673: The financial year 2012–13, its revenue was ₹ 2.005 trillion (US$ 24 billion), 95.35% of which came from domestic operations. Similarly, domestic operations contributed to 88.37% of total profits for the same financial year. Under the Pradhan Mantri Jan Dhan Yojana of financial inclusion launched by Government in August 2014, SBI held 11,300 camps and opened over 30 lakh (3 million) accounts by September, which included 21 lakh (2.1 million) accounts in rural areas and 15.7 lakh (1.57 million) accounts in urban areas. As of 2014–15,

4897-577: The first time. The largest public lender in the country reached a milestone in April 2024, when its market capitalization surpassed ₹7 trillion, making it the second public sector undertaking (PSU) to do so, after Life Insurance Corporation of India . In June 2024, SBI crossed all time high market capitalisation of ₹8 trillion (8 lakh crore INR) becoming the 7th Indian company to cross this milestone, and third Indian bank after HDFC and ICICI in terms of market capitalisation. As of August 2024, State Bank of India has

4980-416: The higher level are assisted by one or many additional secretaries , who are further assisted by joint secretaries . At the middle they are assisted by directors/deputy secretaries and under secretaries. At the lower level, there are section officers, assistant section officers, upper division clerks, lower division clerks and other secretarial staff. The Civil Services of India are the civil services and

5063-509: The legislature in India are exercised by the Parliament , a bicameral legislature consisting of the Rajya Sabha and the Lok Sabha . Of the two houses of parliament, the Rajya Sabha (or the 'Council of States') is considered to be the upper house and consists of members appointed by the president and elected by the state and territorial legislatures . The Lok Sabha (or the 'House of the People')

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5146-524: The oldest commercial bank in the Indian subcontinent . The Bank of Madras merged into the other two presidency banks in British India , the Bank of Calcutta and the Bank of Bombay , to form the Imperial Bank of India , which in turn became the State Bank of India on July 1, 1955. Overall the bank has been formed from the merger and acquisition of more than twenty banks over the course of its 200-year history. The Government of India took control of

5229-402: The people themselves. But the handful of ministers is not expected to deal personally with the various problems of modern administration. Thus the ministers lay down the policy and it is for the civil servants to enforce it. The cabinet secretary ( IAST : Maṃtrimaṇḍala Saciva ) is the top-most executive official and senior-most civil servant of the Government of India. The cabinet secretary

5312-461: The permanent bureaucracy of India. The executive decisions are implemented by the Indian civil servants. In the parliamentary democracy of India, the ultimate responsibility for running the administration rests with the elected representatives of the people which are the ministers. These ministers are accountable to the legislatures which are also elected by the people based on universal adult suffrage . The ministers are indirectly responsible to

5395-419: The president. India is currently the largest democracy in the world, with around 900 million eligible voters, as of 2019. In India, power is divided between the governments of the union and the states of India , the latter being ruled by the chiefs ministers . The state legislature is bicameral in five states and unicameral in the rest. The lower house is elected with a five-year term, while in

5478-463: The recommendations of the Council of Ministers, among others. The President, as the head of state , also receives the credentials of ambassadors from other countries, while the prime minister , as head of government , receives credentials of high commissioners from other members of the Commonwealth , in line with historical tradition. The President is the de jure commander-in-chief of

5561-407: The same logo as the parent bank, SBI. State Bank of India and all its associate banks used the same blue Keyhole logo said to have been inspired by Ahmedabad 's Kankaria Lake . The State Bank of India wordmark usually had one standard typeface, but also utilised other typefaces. The wordmark now has the keyhole logo followed by "SBI". The plans for making SBI a single very large bank by merging

5644-404: The seven regional banks of former Indian princely states. They were renamed, prefixing them with 'State Bank of'. These seven banks were State Bank of Bikaner and Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of Indore (SBN), State Bank of Mysore (SBM), State Bank of Patiala (SBP), State Bank of Saurashtra (SBS) and State Bank of Travancore (SBT). All these banks were given

5727-465: The shares of Yes Bank . As of 8 February 2024, the shareholding has decreased to 26.13%. As of June 2024, the Government of India held around 57.54% equity shares in SBI. The Life Insurance Corporation of India , itself state-owned, is the largest non-promoter shareholder in the company with 9.02% shareholding. The equity shares of SBI are listed on the Bombay Stock Exchange , where it

5810-494: The single largest item of expenditure and accounted for more than 40% of the total non-development expenditure in the 2003–04 budget. Defence expenditure increased fourfold during the same period and has been increasing to defend from a difficult neighbourhood and external terror threats. In 2020–21, India's defence budget stood at ₹ 4.71 trillion (equivalent to ₹ 5.5 trillion or US$ 66 billion in 2023). In 2009, several ministers are accused of corruption and nearly

5893-464: The state bureaucracy. The division of power into separate branches of government is central to the republican idea of the separation of powers . The executive power is vested mainly in the President of India , as per Article 53(1) of the constitution. The president has all constitutional powers and exercises them directly or through subordinate officers as per the aforesaid Article 53(1). The president

5976-405: The state government to levy property tax and charge users for public utilities like water supply , sewage etc. More than half of the revenues of the union and state governments come from taxes, of which 3/4 come from direct taxes . More than a quarter of the union government's tax revenues are shared with the state governments. The tax reforms, initiated in 1991, have sought to rationalise

6059-452: The tax structure and increase compliance by taking steps in the following directions: The non-tax revenues of the central government come from fiscal services, interest receipts, public sector dividends, etc., while the non-tax revenues of the States are grants from the central government, interest receipts, dividends and income from general, economic and social services. Inter-state share in

6142-409: The total capital), joined with BNP Paribas (with 26% of the remaining capital), to form a joint venture life insurance company named SBI Life Insurance Company Ltd. As of July 2023, the SBI group had 65,627 ATMs. Since November 2017, SBI also offers an integrated digital banking platform named YONO . In March 2020, as part of an RBI-directed rescue deal, the State Bank of India acquired 48.2% of

6225-480: The transfer of any civil or criminal case from one state high court to another state high court, or from a Court subordinate to another state high court and the supreme court. Although the proceedings in the supreme court arise out of the judgment or orders made by the subordinate courts, of late the supreme court has started entertaining matters in which the interest of the public at large is involved. This may be done by any individual or group of persons either by filing

6308-542: The union tax pool is decided by the recommendations of the Finance Commission to the president. Total tax receipts of Centre and State amount to approximately 18% of national GDP. This compares to a figure of 37–45% in the OECD. The Finance minister of India usually presents the annual union budget in the parliament on the last working day of February. However, for the F.Y. 2017–18, this tradition had been changed. Now

6391-411: The upper house one-third of the members in the house gets elected every two years with six-year terms. Local governments function at the basic level. It is the third level of government apart from union and state governments. It consists of panchayats in rural areas and municipalities in urban areas. They are elected directly or indirectly by the people. India has a three-tier tax structure, wherein

6474-557: Was 47.4%, 38.4%, and 12.77% respectively on the same date. Each employee contributed a net profit of ₹ 2,620,460 (US$ 31,000) during FY 2023-24. State Bank of India maintains a philanthropic arm in the name of SBI Foundation which is involved to support development initiatives in India and also with initiatives that comply under the Ministry of Corporate Affairs under corporate social responsibility . Government of India The Government of India ( ISO : Bhārata Sarakāra, legally

6557-630: Was carried by an all-European Legislative Council and Viceroy's Executive Council . As such, no Indians were represented in government before 1909. India's current bicameral Parliament has its roots in the Government of India Act 1919 , commonly known as the Montagu - Chelmsford reforms, which introduced a greatly expanded Imperial Legislative Council . It comprised a lower house, the Central Legislative Assembly of 145 members (of which 104 were elected and 41 nominated) and an upper house,

6640-516: Was completed by April 2010, and the SBIndore branches started functioning as SBI branches on 26 August 2010. On 7 October 2013, Arundhati Bhattacharya became the first woman to be appointed chairperson of the bank. Mrs. Bhattacharya received an extension of two years of service to merge into SBI the five remaining associate banks. In February 2024, State Bank of India began a partnership with Flywire Corporation to make student fees and compliance with

6723-405: Was designed by Mahendra Patel. There was, even before it happened, a proposal to merge all the associate banks into SBI to create a single very large bank and streamline operations. The first step towards unification occurred on 13 August 2008 when State Bank of Saurashtra merged with SBI, reducing the number of associate state banks from seven to six. On 19 June 2009, the SBI board approved

6806-593: Was the Bank of Bihar (est. 1911), which SBI acquired in 1969, together with its 28 branches. The next year SBI acquired the National Bank of Lahore (est. 1942), which had 24 branches. Five years later, in 1975, SBI acquired Krishnaram Baldeo Bank , which had been established in 1916 in Gwalior State , under the patronage of Maharaja Madho Rao Scindia . The bank had been the Dukan Pichadi , a small moneylender, owned by

6889-515: Was unpopular amongst Indians and is considered a failure as it did not give Indians self-rule and permanent dominion status (the form of government followed in Canada , Australia and New Zealand ) as was previously promised. Between midnight on 15 August 1947 and 26 January 1950 , India was an independent, self-governing dominion of the Commonwealth of Nations , a constitutional monarchy with

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