Why sbi is not nationalised bank

Also, Read: Information on Nationalised Banks. This privilege has not been conferred upon the nationalized banks. However, after the enforcement of the Banks Laws Amendment Act, , the RBI can appoint any nationalized bank to act as an agent at all places where it has a branch for the following purposes :. Paying, receiving, collecting and remitting money, bullion and securities on behalf of the Government of India and, 2.

Undertaking and transacting any other business entrusted by the Reserve Bank from time to time. Organisational Structure. The organizational structure of the State Bank of India is somewhat different from the other nationalized banks. It has a well-defined system of decentralization of authority. The whole country has been divided into nine circles for administrative control purposes The Head Offices of each circle is known as Local Head Office with a Local Board of Directors which has a statutory status.

The Bank is further trying to strengthen the Regional Offices so as to reduce the span of control of the controlling authority i. There are 4 additional increments in SBI at the time of joining itself as compared to any other bank. Perks given to officers in SBI are much more than any other bank.

Lease house facilities are much better in SBI as it has much higher rent ceilings as compared to other banks. SBI PO gets much wider range of exposure as compared to PO of any other bank, ranging from specialized outfits on credit, forex to treasury etc. Sign up for careeranna blog updates to get the latest in guidance and inspiration as you discover programming, web development, data science, and more.

By Career Anna September 9, Share with your friends:. There are two parts to this: 1. However, after the enforcement of the Banks Laws Amendment Act, , the RBI can appoint any nationalised bank to act as an agent at all places where it has a branch for the following purposes : 1. Premium Future told to halt asset sale process. Subscribe to Mint Newsletters. Internet Not Available. Wait for it… Log in to our website to save your bookmarks. Yes, Continue. Wait for it… Oops! The correct answer is the State Bank of India.

The whole process took place in two phases. This major financial step was taken up to reform the lending sector and provide credit to some priority sectors like agriculture and small scale businesses. Then in , another 6 banks were nationalized.

In , SBI was already under the control of the government hence there was no need to nationalize it. Currently, SBI is headquartered in Mumbai.