Account types: SBI Basic Savings Account, which has no minimum balance requirement and no upper limit on the balance amount
Functions: Acts as the government’s bank, collects money and makes payments on the government’s behalf, manages public debt, accepts deposits from commercial banks, lends them, and more
History: Founded on July 1, 1955, SBI is the largest bank in India and the 48th largest bank in the world by total assets
Predecessors: Imperial Bank of India (1921–1955), Bank of Calcutta (1806–1921), Bank of Bombay (1840–1921), Bank of Madras (1843–1921)
