HISTORY OF STATE BANK OF INDIA

The roots of the State Bank of India rest in the first decade of 19th century, when the Bank of Calcutta, later renamed the Bank of Bengal, was established on 2 June 1806. The Bank of Bengal and two other Presidency banks, namely, 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 the royal charters. These three banks received the exclusive right to issue paper currency in 1861 with the Paper Currency Act, a right they retained until the formation of the Reserve Bank of India. The Presidency banks amalgamated on 27 January 1921, and the reorganized banking entity took as its name Imperial Bank of India. The Imperial Bank of India continued to remain a joint stock company. Pursuant to the provisions of the State Bank of India Act (1955), the Reserve Bank of India, which is India's central bank, acquired a controlling interest in the Imperial Bank of India. On 30 April 1955 the Imperial Bank of India became the State Bank of India. The Govt. of India recently acquired the Reserve Bank of India's stake in SBI so as to remove any conflict of interest because the RBI is the country's banking regulatory authority.

Offices of the Bank of Bengal

In 1959 the Government passed the State Bank of India (Subsidiary Banks) Act, enabling the State Bank of India to take over eight former State-associated banks as its subsidiaries. On Sept 13, 2008, State Bank of Saurashtra, one of its Associate Banks, merged with State Bank of India. SBI has acquired local banks in rescues. For instance, in 1985, it acquired Bank of Cochin in Kerala, which had 120 branches. SBI was the acquirer as its affiliate, State Bank of Travancore, already had an extensive network in Kerala.

ASSOCIATE BANKS OF STATE BANK OF INDIA

There are six associate banks that fall under SBI, and together these six banks constitute the State Bank Group. All use the same logo of a blue keyhole and all the associates use the "State Bank of" name followed by the regional headquarters' name. Originally, the then seven banks that became the associate banks belonged to princely states until the government nationalized them between October, 1959 and May, 1960. In tune with the first Five Year Plan, emphasizing the development of rural India, the government integrated these banks into State Bank of India to expand its rural outreach. There has been a proposal to merge all the associate banks into SBI to create a "mega bank" and streamline operations. The first step along these lines occurred on 13 August 2008 when State Bank of Saurashtra merged with State Bank of India, which reduced the number of state banks from seven to six. Furthermore on 19th June 2009 the SBI board approved the merger of its subsidiary, State Bank of Indore, with itself. SBI holds 98.3% in the bank, and the balance 1.77% is owned by individuals, who held the shares prior to its takeover by the government. The acquisition of State Bank of Indore will help SBI add 470 branches to its existing network of 11,448. Also, following the acquisition, SBIs total assets will inch very close to the Rs 10-lakh crore mark. Total assets of SBI and the State Bank of Indore stood at Rs 998,119 crore as on March 2009.

GROWTH OF STATE BANK OF INDIA

State Bank of India has often acted as guarantor to the Indian Government, most notably during Chandra Shekhar's tenure as Prime Minister of India. With 11,448 branches and a further 6500+ associate bank branches, the SBI has extensive coverage. State Bank of India has electronically networked all of its branches under Core Banking System (CBS). The bank has one of the largest ATM networks in the region. More than 8500 ATMs across India. The State Bank of India has had steady growth over its history, though it was marred by the Harshad Mehta scam in 1992. In recent years, the bank has sought to expand its overseas operations by buying foreign banks. It is the only Indian bank to feature in the top 100 world banks in the Fortune Global 500 rating and various other rankings

INTERNATIONAL PRESANCE OF SBI

The bank has 92 branches, agencies or offices in 32 countries. It has branches of the parent in Colombo, Dhaka, Frankfurt, Hong Kong, Johannesburg, London and environs, Los Angeles, Male in the Maldives, Muscat, New York, Osaka, Sydney, and Tokyo. It has offshore banking units in the Bahamas, Bahrain, and Singapore, and representative offices in Bhutan and Cape Town. SBI operates several foreign subsidiaries or affiliates. In 1990 it established an offshore bank, State Bank of India (Mauritius). It has two subsidiaries in North America, State Bank of India (California), and State Bank of India (Canada). In 1982, the bank established its California subsidiary, named State Bank of India (California), which

now has eight branches - seven branches in the state of California and one in Washington DC which was recently opened on 23rd November, 2009. The seven branches in the state of California are located in Los Angeles, Artesia, San Jose, Canoga Park, Fresno, San Diego and Bakersfield. The Canadian subsidiary too dates to 1982 and has seven branches, four in the greater Toronto area, and three in British Columbia. In Nigeria, SBI operates as INMB Bank. This bank began in 1981 as the Indo-Nigerian Merchant Bank and received permission in 2002 to commence retail banking. It now has five branches in Nigeria. In Nepal SBI owns 50% of Nepal SBI Bank, which has branches throughout the country. 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 up in Tianjin.[1]

BOARD OF DIRECTOR OF SBI

Sr. No Name of Director Sec. of SBI Act, 1955 . Shri O.P. Bhatt 1. 19(a) Chairman Shri S.K. Bhattacharyya 2. 19(b) MD & CC&RO Shri R. Sridharan 3. 19(b) MD & GE(A&S) 4. Dr. Ashok Jhunjhunwala 19(c) 5. Shri Dileep C. Choksi 19(c) 6. Shri S. Venkatachalam 19(c) 7. Shri. D. Sundaram 19(c) 8. Dr. Deva Nand Balodhi 19(d) 9. Prof. Mohd. Salahuddin Ansari 19(d) 10. Dr.(Mrs.) Vasantha Bharucha 19(d) 11. Dr. Rajiv Kumar 19(d) 12. Shri Ashok Chawla 19(e) 13. Smt. Shyamala Gopinath 19(f)

JOURNEY AND VISION OF SBI

The State Bank of India, the countrys oldest Bank and a premier in terms of balance sheet size, number of branches, market capitalization and profits is today going through a momentous phase of Change and Transformation the two hundred year old Public sector behemoth is today stirring out of its Public Sector legacy and moving with an agility to give the Private and Foreign Banks a run for their money. The bank is entering into many new businesses with strategic tie ups Pension Funds, General Insurance, Custodial Services, Private Equity, Mobile Banking, Point of Sale Merchant Acquisition, Advisory Services, structured products etc each one of these initiatives having a huge potential for growth. The Bank is forging ahead with cutting edge technology and innovative new banking models, to expand its Rural Banking base, looking at the vast untapped potential in the hinterland and proposes to cover 100,000 villages in the next two years. It is also focusing at the top end of the market, on whole sale banking capabilities to provide Indias growing mid / large Corporate with a complete array of products and services. It is consolidating its global treasury operations and entering into structured products and derivative instruments. Today, the Bank is the largest provider of infrastructure debt and the largest arranger of external commercial borrowings in the country. It is the only Indian bank to feature in the Fortune 500 list. The Bank is changing outdated front and back end processes to modern customer friendly processes to help improve the total customer experience. With about 8500 of its own 10000 branches and another 5100 branches of its Associate Banks already networked, today it offers the largest banking network to the Indian customer. The Bank is also in the process of providing complete payment

solution to its clientele with its over 8500 ATMs, and other electronic channels such as Internet banking, debit cards, mobile banking, etc. With four national level Apex Training Colleges and 54 learning Centres spread all over the country the Bank is continuously engaged in skill enhancement of its employees. Some of the training programmes are attended by bankers from banks in other countries. The bank is also looking at opportunities to grow in size in India as well as Internationally. It presently has 82 foreign offices in 32 countries across the globe. It has also 7 Subsidiaries in India SBI Capital Markets, SBICAP Securities, SBI DFHI, SBI Factors, SBI Life and SBI Cards - forming a formidable group in the Indian Banking scenario. It is in the process of raising capital for its growth and also consolidating its various holdings. Throughout all this change, the Bank is also attempting to change old mindsets, attitudes and take all employees together on this exciting road to Transformation. In a recently concluded mass internal communication programme termed Parivartan the Bank rolled out over 3300 two day workshops across the country and covered over 130,000 employees in a period of 100 days using about 400 Trainers, to drive home the message of Change and inclusiveness. The workshops fired the imagination of the employees with some other banks in India as well as other Public Sector Organizations seeking to emulate the programme. The CNN IBN, Network 18 recognized this momentous transformation journey, the State Bank of India is undertaking, and has awarded the prestigious Indian of the Year Business, to its Chairman, Mr. O. P. Bhatt in January 2008.

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). A unique institution, it was the first joint-stock bank of British India sponsored by the Government of Bengal. The Bank of Bombay (15 April 1840) and the Bank of Madras (1 July 1843) followed the Bank of Bengal. These three banks remained at the apex of modern banking in India till their amalgamation as the Imperial Bank of India on 27 January 1921. Primarily Anglo-Indian creations, the three presidency banks came into existence either as a result of the compulsions of imperial finance or by the felt needs of local European commerce and were not imposed from outside in an arbitrary manner to modernise India's economy. Their evolution was, however, shaped by ideas culled from similar developments in Europe and England, and was influenced by changes occurring in the structure of both the local trading environment and those in the relations of the Indian economy to the economy of Europe and the global economic framework.

Bank of Bengal H.O.

ESTABLISHMENT

The establishment of the Bank of Bengal marked the advent of limited liability, joint-stock banking in India. So was the associated innovation in banking, viz. the decision to allow the Bank of Bengal to issue notes, which would be accepted for payment of public revenues within a restricted geographical area. This right of note issue was very valuable not only for the Bank of Bengal but also its two siblings, the Banks of Bombay and Madras. It meant an accretion to the capital of the banks, a capital on which the proprietors did not have to pay any interest. The concept of deposit banking was also an innovation because the practice of accepting money for safekeeping (and in some cases, even investment on behalf of the clients) by the indigenous bankers had not spread as a general habit in most parts of India. But, for a long time, and especially upto the time that the three presidency banks had a right of note issue, bank notes and government balances made up the bulk of the investible resources of the banks. The three banks were governed by royal charters, which were revised from time to time. Each charter provided for a share capital, four-fifth of which were privately subscribed and the rest owned by the provincial government. The members of the board of directors, which managed the affairs of each bank, were mostly proprietary directors representing the large European managing agency houses in India. The rest were government nominees, invariably civil servants, one of whom was elected as the president of the board.

Group Photogaph of Central Board (1921)

BUSINESS
The business of the banks was initially confined to discounting of bills of exchange or other negotiable private securities, keeping cash accounts and receiving deposits and issuing and circulating cash notes. Loans were restricted to Rs. one lakh and the period of accommodation confined to three months only. The security for such loans was public securities, commonly called Company's Paper, bullion, treasure, plate, jewels, or goods 'not of a perishable nature' and no interest could be charged beyond a rate of twelve per cent. Loans against goods like opium, indigo, salt woollens, cotton, cotton piece goods, mule twist and silk goods were also granted but such finance by way of cash credits gained momentum only from the third decade of the nineteenth century. All commodities, including tea, sugar and jute, which began to be financed later, were either pledged or hypothecated to the bank. Demand promissory notes were signed by the borrower in favour of the guarantor, which was in turn endorsed to the bank. Lending against shares of the banks or on the mortgage of houses, land or other real property was, however, forbidden. Indians were the principal borrowers against deposit of Company's paper, while the business of discounts on private as well as salary bills was almost the exclusive monopoly of individuals Europeans and their partnership firms. But the main function of the three banks, as far as the government was concerned, was to help the latter raise loans from time to time and also provide a degree of stability to the prices of government securities.

ASSOCIATE BANKS OF SBI AND IT,S BUSINESS

State Bank of India has the following six Associate Banks (ABs) with controlling interest ranging from 75% to 100%. 1. State Bank of Bikaner and Jaipur (SBBJ) 2. State Bank of Hyderabad (SBH) 3. State Bank of Indore (SBIr) 4. State Bank of Mysore (SBM) 5. State Bank of Patiala (SBP) 6. State Bank of Travancore (SBT) The six ABs have a combined network of 4502 branches in India which are fully computerized and 2410 ATMs networked with SBI ATMs, providing value added services to clientele. The combined net profit of these banks increased by 12% over the previous year to reach Rs.2277.69 crores. Deposits and advances grew by 19% and 22%, respectively, during the year. The combined Net NPA ratio of all ABs was at 0.61% as on 31st March 2008.The highlights of performance of the six ABs for the year 2007-08 are as follows: (Rs. In crores) Deposits Loans Investments Total Assets Return Assets No. Branches on of 234168 178376 75147 268285 0.86% 4502

Url SBBJ SBH SBIR SBM SBP SBT www.sbbjbank.com www.sbhyd.com www.indorebank.org www.mysorebank.com www.sbp.co.in www.statebankoftravancore.com

SBICI Bank Ltd (Banking Subsidiary, fully owned by SBI)

SBICI Bank Ltd has two branches, fully computerised, operating in Mumbai. The Bank recorded a net profit of Rs.12.85 crores during 2007-08. Deposits, Loans and Investments were at Rs.522.01 crores, Rs.354.99 crores and Rs.143.59 crores, respectively, as at 31st March 2008. Return on Assets was at 1.12% while Capital Adequacy Ratio stood at 27.36% as on 31.3.2008. For more details please visit the website detailed as under:-

FOREIGN SUBSIDIARIES
SBIInternational(Mauritius)Ltd.,OffshoreBank (A subsidiary of State Bank of India)

State bank of India International (Mauritius) Ltd is one of the first offshore banks to be established in Mauritius in 1990, with a paid up capital of USD 10 Million. The Bank has had a consistent record of having earned profits since its very first year of operations. SBIIML, with the expertise of its management and personnel, is customer focussed, and offers to all its clients, all over the world, high quality, cost effective professional services and innovative products. The Bank lays emphasis on technology, which is an integral part of its operations having a significant impact on services rendered. It has, presently, clients spread over 40 countries. The principal activities include:

Acceptance of deposits in foreign currencies mainly US Dollar, Pound Sterling, Euro and also other currencies. Attractive rates of interest are offered. International remittances in all major currencies through SWIFT, quickly and effectively. Loans/syndications in major currencies, like Euro/Dollar/Japanese Yen. Trade Services, including issuance of/negotiations under documentary letters of credits and issuance of bank guarantees. Hedging of exchange and interest rate risks on behalf of customers. Sales and Purchases of foreign currencies in the Spot and Forward Market. Rendering custodial services for offshore funds registered in Mauritius. Products tailored to suit the requirements of customers.

The Bank adopts the best Corporate Governance practices, and comprehensive risk management policies and systems ensure effective control of risks. A strong capital base, and near zero nonperforming assets further add to the strength and stability of the Bank.

FINANCIAL PERFORMANCEAS ON 31.03.2004 ITEMS RESOURCES Capital & Reserves Deposits Borrowings Other Liabilities Total DEPLOYMENT Investments & Placements Advances All other Assets Total Assets NET PROFIT 37.84 132.42 6.67 176.93 1.14 165.43 578.91 29.16 773.50 4.98 19.10 112.39 38.14 7.30 176.93 83.50 491.34 166.74 31.91 773.49 USD MIO RS. IN CRORES

STATE BANK OF INDIA (CALIFORNIA)

State Bank of India (California), a wholly owned subsidiary in California is a California State Chartered Bank and a member of the Federal Deposit Insurance Corporation. With eight full service branches, the Bank caters to the Banking needs of the community, ethnic and non-ethnic alike, through various deposit and loan schemes. SBIC takes prides in providing state-of-the-art remittance facility to its customers. The Bank also provides Internet Banking, Tele-Banking, ATM service and Credit Cards.

FINANCIAL PERFORMANCE AS ON 31.03.2009 ITEMS RESOURCES Capital & Reserves Deposits Borrowings Other Liabilities Total DEPLOYMENT Investments & Placements Advances All other Assets 178.26 497.05 74.01 904.13 2521.04 375.38 89.01 571.45 84.65 4.21 749.32 451.46 2898.39 429.35 21.35 3800.55 USD MIO RS. IN CRORES

Total Assets NET PROFIT

749.32 3.12

3800.55 15.82

CONTACT DETAILS: Address STATEBANKOFINDIA(California),

707WilshireBlvd. 19thFloor,Suite1995 LosAngelesCA90017, USA Tel.:213)623-7250 FAX:(213)622-2069/622-8082 Cable:SBIC SWIFT:SBCAUS6L

ContactPerson: Mr. Dinesh Pandey-President & CEO For more details on our subsidiary The above information is liable to change. Current position should be ascertained from the Bank.

STATE BANK OF INDIA (CANADA)

State Bank of India (Canada) - a wholly owned subsidiary of State Bank of India - has been operating in Canada at four locations Toronto ,Vancouver, Surrey and Mississauga , extending various facilities to the Indians settled in Canada such as remittance of funds through a network of over 9000 offices of State Bank of India, the largest commercial bank in India and through the branches of its Associate Banks. SBI(C) has also been instrumental in fostering trade ties between India and Canada by extending financial, advisory and logistic support to Canadian and Indian corporate.

FINANCIAL PERFORMANCE AS ON 31.03.2004 ITEMS RESOURCES Capital & Reserves Deposits Borrowings Other Liabilities Total 29.133 133.047 33.393 5.482 201.055 97.65 445.96 111.93 18.37 673.91 USD MIO RS. IN CRORES

DEPLOYMENT Investments & Placements Advances All other Assets Total Assets NET PROFIT/(LOSS) 15.258 169.782 16.015 201.055 (0.664) 51.13 569.11 53.67 673.91 (2.22)

CONTACT DETAILS: Address StateBankofIndia 200BayStreet,Suite#1600, RoyalBankPlaza,NorthTower, Toronto,OntarioM5J2J2,Canada Tel.:(416)8650414 FAX:(416)8651735/8650324 Cable:STAT SWIFT:SBINCATX

ContactPerson P Nandakumaran - President & CEO For more details on our subsidiary The above information is liable to change. Current position should be ascertainedfromtheBank.

SBI Life Insurance Company Ltd (SBI LIFE) SBI Life Insurance, Indias largest private life insurance, is a joint venture between State Bank of India and BNP Paribas Assurance SBI owns 74% of the total capital and BNP Paribas Assurance the remaining 26%. SBI Life Insurance has an authorized capital of Rs. 2,000 crore and a paid up capital of Rs 1,000 crores. BNP Paribas Assurance is the insurance arm of BNP Paribas - Euro Zones leading Bank. BNP Paribas, part of the worlds top 10 groups of banks by market value and part of Europe top 3 banking companies, is one of the oldest foreign banks with a presence in India dating back to 1860. BNP Paribas Assurance is the fourth largest life insurance company in France, and a worldwide leader in Creditor insurance products offering protection to over 50 million clients. BNP Paribas Assurance operates in 41 countries mainly through the banc assurance and partnership model. SBI Life Insurances mission is to emerge as the leading company offering a comprehensive range of Life Insurance and pension products at competitive prices, ensuring high standards of customer service and world class operating efficiency. SBI Life has a unique multi-distribution model encompassing Banc assurance, Agency and Corporate Solutions. SBI Life extensively leverages the SBI Group relationship as a platform for cross-selling insurance products along with its numerous banking product packages such as housing loans and personal loans. Agency Channel, comprising of the most productive force of over 68,000 Insurance Advisors, offers door to door insurance solutions to customers.

SBI Lifes Key Accomplishments: Bagged the coveted personal finance award-Outlook Money NDTV Profit best Life Insurer 2008. Globally topped at the prestigious MDRT 09, in terms of number of Million Dollar Round Table (MDRT) members. First life insurer to receive CRISILs highest financial rating AAA/Stable. ICRA too has assigned iAAA rating indicating highest claims paying ability to SBI Life Insurance. Retains ISO 9001:2000 certificate for superior claim settlement process

Non banking subsidiary

The Bank has the following Non-Banking Subsidiaries in India : 1. 2. 3. 4. SBI Capital Markets Ltd SBI Funds Management Pvt Ltd SBI Factors & Commercial Services Pvt Ltd SBI DFHI Ltd

SBI Capital Markets Ltd (SBICAP) SBICAP undertakes merchant banking activities, advisory services, project appraisal, credit syndication and securities broking. SBICAPs current focus is on infrastructure project advisory and syndication mandates, particularly in sectors, such as, urban infrastructure and power, which are reckoned as the growth drivers. The other focus areas are public issues of equity, book-building issues, debt placements, broking, and sales and distribution. During the year, SBICAPs forged ahead in issue management, project advisory and structured finance, sales & distribution. It focused on

infrastructure project advisory and syndication mandates, particularly in the energy sector, which is reckoned as the critical growth driver in the growth of the economy. On the international front SBICAPs bagged an infrastructure (water) advisory assignment from the Ministry of National Economy, Oman and was an integral part of the team effort for SBIs first acquisition of a bank overseas. It was also associated with SBI for providing advisory in respect of participation of Societe Generale Asset Management, France in SBI Mutual Funds. It handled seven public issues out of the thirty four issues, which hit the primary market during the period. The Company recorded an improved financial performance during the year with gross income amounting to Rs.175.06 crore as against Rs.142.75 crore in the previous year, a y-o-y growth of approx. 23%. PAT of Rs.88.12 crore as against Rs. 63.23 crore in the last year shows a y-o-y growth of approx.40%.

SBI Funds Management Pvt Ltd (SBI FUNDS)

SBI FUNDS is the Asset Management Company (AMC) set up for managing the affairs of SBI Mutual Fund. During 2003-04, SBI FUNDS reported a total inflow of Rs.12,450 crore in the open-ended funds. Total redemption amounted to Rs.10,523 crore, leaving a net inflow of Rs.1,927 crore for the year as against a net inflow of Rs.686 crore in the previous year. The total net assets of domestic funds under management stood at Rs.5,340 crore as on the 31st March 2004 as against Rs.3,312 crores as on the 31st March 2003. SBI FUNDS recorded a profit after tax of Rs.10.09 crore in 2003-

2004, as against Rs.6.21 crore in the preceding year and paid a dividend of 10%. The Bank holds 100% equity of the Company.

SBI DFHI Ltd (SBI DFHI)

SBI DFHI, a Primary Dealer (PD), undertakes trading in Government and Non-Government securities, in the Debt Markets. SBI DFHI Ltd came into existence in April 2004 with the amalgamation of Discount and Finance House of India (DFHI), a subsidiary of RBI & SBI Gilts Ltd, a subsidiary of SBI. It is a major participant in the wholesale Debt Market both in the Primary and Secondary Market segment with an outright turnover of Government Securities and Treasury Bills in 2007-08 at Rs.54, 919.39 crores and Rs.5, 428 crores respectively. SBI DFHI Ltd is also active in retailing of Government securities, including small lots, and are the distributors of Mutual Fund products of all leading funds, actively participating in the domestic interest rate derivatives and equities/equity futures markets. SBI DFHI posted a post-tax profit of Rs.85.68 crores for the year 2007-08 and paid a dividend of 10%. The State Bank Group holds 67% of the companys share capital.

It posted an impressive turnover of Government Securities and Treasury Bills in 2007-08 at Rs.54,919.39 crores and Rs.5,428 crores respectively.

SBI Factors and Commercial Services Pvt Ltd (SBI FACTORS)

SBI Factors, a subsidiary of State bank of India (SBI) is one of the leading factoring companies in India with an asset base of Rs. 700.10 crores as on 30.09.2005. It was established in February 1991 with the primary objective to provide domestic factoring services to Small and Medium Enterprises (SMEs). Factoring is a Collection and finance service designed to improve the cash flow position of SMEs by turning their credit invoices into ready cash. The major strength of the company is that it has put in place a technology driven platform for offering integrated receivables management. SBI and its Associates Banks hold 70% stake in SBI Factors. SBIF offers Domestic Factoring With Recourse and Without Recourse. Purchase Bill Factoring, Factoring of Usance Bills Under LC, Channel Financing of Dealers / Distributors and Export Factoring Facilities. All its products have been well received by its clients. SBIF has ten branches all over the country and it has plans to open three more branches during the year. It has achieved a turnover of Rs. 1489.54 Crores with Prepayment Outstanding of Rs. 459.35 crores for the year ended 31.03.2005. The profit before tax was Rs. 9.64 crores and PAT Rs. 6.12 Crores for the year 2004-05. It has recorded a NIL NPA position as at 31.03.2005. It has declared a dividend of 8% during the year 2005. It has a market share of 40.30% as on 30.09.2005.

SBI Cards & Payments Services Pvt. Ltd. (SBICPSL) 1. Launch of SBI Delhi, SBI Hyderabad and SBI Bangalore city affinity cards. 2. Launch of Flexi pay, an instalment loan programme. 3. Market leadership in VISA petrol spends in India. 4. Launch of e-bill payment of SBI Credit Card for SBI account holders. 5. Launch of Elite card which is offered by invitation only. 6. Ten per cent maiden dividend declared