Question 1

What is State Bank of India (SBI)?

Accepted Answer

State Bank of India (SBI) is an Indian multinational public sector banking and financial services company that operates in Bangladesh as a foreign commercial bank. It is a government-owned corporation headquartered in Mumbai, India, and represents one of the largest commercial banks in the Indian subcontinent.

In Bangladesh, SBI operates a network of branches and offshore banking units providing retail and corporate banking services. The bank plays a significant role in facilitating Indo-Bangladesh trade relations and serves both individual customers and corporate clients through state-of-the-art banking facilities.

Question 2

When was State Bank of India (SBI) founded?

Accepted Answer

State Bank of India traces its origins to 1806 when the Bank of Calcutta was established, making it the first bank in India. It later evolved into the Bank of Bengal and eventually became the Imperial Bank of India. On July 1, 1955, under the State Bank of India Act of 1955, the Imperial Bank of India was transformed into State Bank of India, with the Reserve Bank of India acquiring a controlling interest.

SBI's presence in Bangladesh dates back to 1862 when the Bank of Bengal took over Dhaka Bank. After a brief interruption from 1962 to 1974, SBI recommenced operations in independent Bangladesh on May 5, 1975, by reopening its Dhaka Branch at Motijheel.

Question 3

Where is State Bank of India (SBI) headquartered?

Accepted Answer

While State Bank of India's global headquarters is located in Mumbai, Maharashtra, India, its Bangladesh operations are managed through a Country Office located at Navana Pristine Pavilion, 128 Gulshan Avenue, Circle-2, Dhaka 1212, Bangladesh.

The bank's main operational presence in Bangladesh is centered in Dhaka's Motijheel and Gulshan areas, which serve as the primary hubs for banking activities in the country.

Question 4

Where does State Bank of India (SBI) operate?

Accepted Answer

State Bank of India operates in Bangladesh through a network of 3 branches and 2 offshore banking units located in key cities. The branches are situated in:
• Dhaka: Main branch at Motijheel Banking Booth (Dilkusha Commercial Area) and Gulshan branch (Anabil Tower, Gulshan Avenue)
• Chittagong: Branch at ABC Tower, Enayet Bazar Road
• Khulna: Branch at Sayed Ali Hossain Bhaban, Upper Jashore Road

Additionally, SBI operates offshore banking units in Dhaka and Chittagong. The bank also has Indian Visa Application Centres (IVACs) at various locations throughout Bangladesh to facilitate visa processing services.

Question 5

What services does State Bank of India (SBI) offer?

Accepted Answer

State Bank of India Bangladesh offers comprehensive retail and corporate banking services, including:

Core Banking Services:
• Retail banking for individual customers
• Corporate and commercial banking
• Foreign exchange (Forex) services
• Remittance services
• Treasury operations

Digital Banking Services:
• CORE Banking Solution
• Internet Banking
• YONO SBI Bangladesh mobile app
• Trade Portal for corporate clients
• E-commerce integration
• ATM network with EMV compliant VISA debit cards
• Foreign travel prepaid cards

Payment Systems:
• RTGS (Real Time Gross Settlement)
• BACPS/BEFTN (Bangladesh Automated Cheque Processing System/Bangladesh Electronic Funds Transfer Network)
• Integration with NPSB (National Payment Switch Bangladesh) for clearing operations

Question 6

What makes State Bank of India (SBI) unique?

Accepted Answer

SBI Bangladesh stands out for its historical significance as one of the oldest banking institutions operating in Bangladesh, with roots dating back to 1862. The bank has maintained a continuous presence (except for a brief period) spanning over 160 years.

Its primary distinction is its crucial role in facilitating Indo-Bangladesh trade relations. As a bridge between the two neighboring countries, SBI provides specialized services that support bilateral commerce and economic cooperation. The bank's extensive experience in cross-border transactions and its deep understanding of both Indian and Bangladeshi markets make it a preferred choice for businesses engaged in Indo-Bangla trade.

SBI Bangladesh also operates Indian Visa Application Centres throughout the country, providing an additional service that strengthens people-to-people connections between India and Bangladesh.

Question 7

What type of financial institution is State Bank of India (SBI)?

Accepted Answer

State Bank of India Bangladesh operates as a foreign commercial bank. In Bangladesh's banking sector classification, it is categorized as a foreign bank that provides commercial banking services to both retail and corporate clients.

As a public sector bank from India operating internationally, SBI brings the credibility and stability of a government-owned institution with over 200 years of banking heritage. The bank functions as a full-service commercial bank in Bangladesh, offering a comprehensive range of banking products while maintaining offshore banking units for specialized international banking transactions. Its dual presence as both a traditional branch network and offshore banking operator allows it to serve diverse customer segments effectively.

State Bank of India (SBI)

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About State Bank of India (SBI) in Bangladesh