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Motivation strategies are the key to finding and harnessing your motivation to work for you and achieve your goals. Motivation strategies are small practices you can employ to generate more motivation and to connect with the underlying motivation you have always had. Motivation strategies do not take a long time, but repetition of these strategies every day increases their effectiveness and your ability to draw strength from them. The following strategies are effective ways to get in touch with your motivation and to harness the power of your mind to work harder and smarter for you. 1. Motivation strategies - daily list your goals and dreams. If you have one or two very large dreams you are working towards, look at them in your own handwriting every day. This will help center your mind on the bigger picture you are hoping to create, and will keep you grounded to these ideas when the going gets tough. When you spend time every day writing your smaller goals, as well, you will begin to see a purpose in your work and trials that can increase your motivation to work hard and try your best. 2. Motivation strategies - break small tasks into manageable pieces. A list of smaller tasks that you can check off as you go will be easier to complete and attempt than a large task that can seem looming and impossible. Small steps will help you allocate the appropriate time and resources to the task, and will enable you to give yourself the necessary breaks to make the task as enjoyable as possible. 3. Motivation strategies - make sure you keep track of your successes. If you have broken a task down into smaller pieces, do not forget to check off the pieces you have completed. This physical evidence of your progress will go far in aiding your motivation to see the whole project to completion. The worst detriment to motivation strategies is the inability to see success because feelings of failure then have room to move in and sap any strength of mind and will you may have. When you pay special attention to your successes, you will be better able to work for future success. 4. Motivation strategies - be willing to ask for help when the going gets rough. When your resources run low and you are unable to make things work out yourself, look to your friends and family as resources for additional motivation. These people can offer encouragement to you as well as offering additional aid in your task. It isn’t always easy to ask for help or admit you are having a bad day, but it can be instrumental to your motivation strategies progress to seek out this support. Motivation strategies are easy to put into practice but can make all the difference in your success!
get motivated lack of motivation motivation techniques Free Report - Lasting Motivation Secrets Copyright © 2007 - Motivation Techniques :: motivation techniques People - Theories of Motivation There are a number of different views as to what motivates workers. The most commonly held views or theories are discussed below and have been developed over the last 100 years or so. Unfortunately these theories do not all reach the same conclusions! Taylor Frederick Winslow Taylor (1856 – 1917) put forward the idea that workers are motivated mainly by pay. His Theory of Scientific Management argued the following: Workers do not naturally enjoy work and so need close supervision and control Therefore managers should break down production into a series of small tasks Workers should then be given appropriate training and tools so they can work as efficiently as possible on one set task. Workers are then paid according to the number of items they produce in a set period of timepiece-rate pay. As a result workers are encouraged to work hard and maximise their productivity. Taylor’s methods were widely adopted as businesses saw the benefits of increased productivity levels and lower unit costs. The most notably advocate was Henry Ford who used them to design the first ever production line, making Ford cars. This was the start of the era of mass production. Taylor’s approach has close links with the concept of an autocratic management style (managers take all the decisions and simply give orders to those below them) and Macgregor’s Theory X approach to workers (workers are viewed as lazy and wish to avoid responsibility). However workers soon came to dislike Taylor’s approach as they were only given boring, repetitive tasks to carry out and were being treated little better than human machines. Firms could also afford to lay off workers as productivity levels increased. This led to an increase in strikes and other forms of industrial action by dis-satisfied workers. Mayo Elton Mayo (1880 – 1949) believed that workers are not just concerned with money but could be better motivated by having their social needs met whilst at work (something that Taylor ignored). He introduced the Human Relation School of thought, which focused on managers taking more of an interest in the workers, treating them as people who have worthwhile opinions and realising that workers enjoy interacting together. Mayo conducted a series of experiments at the Hawthorne factory of the Western Electric Company in Chicago
Maslow Abraham Maslow (1908 – 1970) along with Frederick Herzberg (1923-) introduced the NeoHuman Relations School in the 1950’s. . They may therefore have to offer a slightly different set of incentives from worker to worker. A business should therefore offer different incentives to workers in order to help them fulfill each need in turn and progress up the hierarchy (see below). the productivity levels of the workers improved or remained the same. From this Mayo concluded that workers are best motivated by: Better communication between managers and workers ( Hawthorne workers were consulted over the experiments and also had the opportunity to give feedback) Greater manager involvement in employees working lives ( Hawthorne workers responded to the increased level of attention they were receiving) Working in groups or teams. His theory most closely fits in with a paternalistic style of management. For example a person who is dying of hunger will be motivated to achieve a basic wage in order to buy food before worrying about having a secure job contract or the respect of others. All of the needs are structured into a hierarchy (see below) and only once a lower level of need has been fully met. ( Hawthorne workers did not previously regularly work in teams) In practice therefore businesses should re-organise production to encourage greater use of team working and introduce personnel departments to encourage greater manager involvement in looking after employees’ interests. He expected to see productivity levels decline as lighting or other conditions became progressively worse What he actually discovered surprised him: whatever the change in lighting or working conditions.He isolated two groups of women workers and studied the effect on their productivity levels of changing factors such as lighting and working conditions. which focused on the psychological needs of employees. Maslow put forward a theory that there are five levels of human needs which employees need to have fulfilled at work. Managers should also recognise that workers are not all motivated in the same way and do not all move up the hierarchy at the same pace. would a worker be motivated by the opportunity of having the next need up in the hierarchy satisfied.
This should give a greater sense of achievement. Some of the methods managers could use to achieve this are: Job enlargement – workers being given a greater variety of tasks to perform (not necessarily more challenging) which should make the work more interesting. He argued that there were certain factors that a business could introduce that would directly motivate employees to work harder (Motivators). Job enrichment .involves workers being given a wider range of more complex. . Hygiene factors are factors which ‘surround the job’ rather than the job itself. For instance how interesting the work is and how much opportunity it gives for extra responsibility. However there were also factors that would de-motivate an employee if not present but would not in themselves actually motivate employees to work harder (Hygienefactors) Motivators are more concerned with the actual job itself. For example a worker will only turn up to work if a business has provided a reasonable level of pay and safe working conditions but these factors will not make him work harder at his job once he is there. recognition and promotion. and piece-rate in particular Herzberg believed that businesses should motivate employees by adopting a democratic approach to management and by improving the nature and content of the actual job through certain methods. interesting and challenging tasks surrounding a complete unit of work. Importantly Herzberg viewed pay as a hygiene factor which is in direct contrast to Taylor who viewed pay.Herzberg Frederick Herzberg (1923-) had close links with Maslow and believed in a two-factor theory of motivation. Empowerment means delegating more power to employees to make their own decisions over areas of their working life.
Maslow (1943) said that people work to survive and live through financial compensation. These factors include: employer. The modern employees' motivation management methods are employees' oriented and are more effective. Jr. that the psychologists in sports management teams are useless and that motivation is not achievable. that there are no effective managers. the poor and the rich. 1963 from the steps of the Lincoln Memorial (Lucas and Medhurst. Managers who have been able to motivate their employees successfully realised how easy it is to achieve tasks with motivated employees. to make new friends.. To say that nobody can motivate employees at work is like saying there are no influential leaders. to have job security. 1999). the public speech by Martin Luther King. This research work was to ascertain from the employees the motivating factors that can 'adequately' motivate them to work tirelessly and to achieve results. There are schools of thought that believe that no employee can be 'adequately' motivated while there are others that believe they can. working environment. the youths and the old and others would co-exist harmoniously and peacefully as equals on August 28. when he talked of his ambition for an America where blacks and whites. This assertion was corroborated by different management theories since the works of Frederick Taylor on 'The Principle of Scientific Management' in 1911 and Henry Gantt on 'Works. Employees do not only work because they want to collect only pay but for other numerous factors. If you doubt that there is motivation. It is to cause or provoke somebody to act either positively or negatively. Motivation has been used by effective managers to prompt ordinary people to achieve uncommon results in all fields of endeavours. for a sence of achievement and to feel important in the . The American Heritage Dictionary of the English Language (2006) defined employee "as a person who works for another in return for financial or other compensation". Wages and Profits' in 1913. There are various factors that bother on employment. It found out that employees can be 'adequately' motivated and are best positioned to determine what can collectively motivate them 'adequately'. People work because they have goals to achieve which surpass financial gains from their employment.-------------------Review performances and progress with tools like SuccessFactors performance appraisal software to predict and improve your business How Managers can Motivate their Employees Abstract Employees' performance has been established to be directly related to employees' motivation. Introduction Motivation is the catalyst that spurns employees' eagerness to work without pressure. employee. that there are no motivational speakers. Modern employees' motivation management methods have evolved over time which discredited Taylor's "differential rate piece-work" and Gantt's "task and bonus wage" systems. To motivate is to provide employees with a motive to do some tasks. read "I have a dream". working terms and conditions and type of products and services provided by employer. the educated and uneducated.
Chris Argyris's "Bureaucratic/Pyramidal Value System and Humanistic/Democratic Value System". For example. Gantt (1913) suggested that compensating 'hardworkers' will be better done through basic pay for all and bonuses for extra performance. Maslow said that human beings' first group of needs are physiological. Fredrick Herzbergs' "Two Factor Motivation Hygiene Theory" and David McClelland's "Achievement Theory". and acceptance of facts (Maslow. the fourth are esteem and the fifth are self-actualization. Other writers on motivation and satisfying human needs include. Abraham Maslow in his 1943 paper titled "A theory of Human Motivation". Modern managers recognise employees as part of a team and who are collectively responsible for the team's performance. for the most part. Henry Mintzberg's "Ten Managerial Roles". the reasons for their ups and downs are unknown.society. safety needs include security of body. of the family. This research work's aim was to find out if it is possible to adequately compensate employees and how managers and team heads can motivate their employees with the scarce resources available to them. The physiological needs are breathing. is an extension of human innate curiousity. sexual intimacy. water. bieng in friendship (being in love and being loved). of employment. Taylor (1911) opined that the most important motivator of workers is salary and wages when he said that "non-incentive wage system encourages low productivity". love/belonging to society. Review of Literature Some theorists and writers on motivation of employees concluded it is not possible to adequately motivate employees based on Maslow's "Heirachy of Needs" and Frederick Herzberg's "theory of hygiene needs" or "two-factor theory" because these theories averred that human needs are 'insatiable'. confidence. spontaneity. of property. achievements. lack of prejudice. Douglas McGregor's "Theory X and Theory Y". According to Porter (1997) and . All employees that have job satisfaction are high performers in their respective workplaces. sleep. homeostatis and excretion. food. rewards and awards. respect for others. of resources. 1943). Elton Mayo's "Hawthorne Experiments". Maslow devided human needs into five. He said that if employees receive the same wage irrespective of their individual contribution to the goal. family. Taylor worked as an engineer in the production unit. All these analogies affect only the unskilled and "unmotivated" workers in Midvale Steel Company where Taylor worked as a manager. sex. and most especially to have job satisfaction. The inadequacy of one must be covered by others though there is room for recognition of good works of individual team members. of health. 2003). esteem needs are self-esteem. Michael E. creativity. the third are love/belonging to the society. the second needs are safety related. of morality. Porter's "Competitive Strategy". problem solving. The Hawthorne studies allegedly discovered the influence of human relations or social factors on workers motivation (Roethlisberger and Dickson. Amabile and Kramer (2007) said "anyone in management knows that employees have their good days and their bad days and that. Most managers shrug their shoulders at this fact of work life". respect by others. The two methods treat workers as 'labourers' who toiled only for money and has been discouraged by modern managers. Rensis Likert's Management System and Styles". to have a sense of identity. and self actualization include morality. His principle does not apply to administrative and managerial duties where it may be difficult to measure individual performance. they will work less and that employees think working at a higher rate means fewer employees may be needed which discourages employees to work more.
The contingency theory is a behaviorial theory that says that there is no one best way to manage a company. The second factors include threats and opportunities. they will be able to motivate all employees and it will affect production. A manager does not need to provide all employees' needs before being a motivator. Mintzberg (1989) said to be able to motivate employees different factors would have to be put in place as much as we have employees. Improving these factors can provide employees. The only way to manage an underfunded organisation is to provide "adequate fund" through injecting more fund or downsizing. to lead an organisation or to make decisions. If management could go to the extent of carrying out opinion survey on employees. achievements. Herzberg (1959) discovered that the factors that lead to dissatisfaction are completely different from those that provide satisfaction. This analogy is called the Contingency Theory. the employees suggestion programs. working conditions. a company in Glasgow carried out a survey on motivating employees in the period of economic crunch.Mintzberg (1989) motivation is only a secondary link in the chain represented by management. But the critical path analysis. job satisfaction and recognition. According to them. 'Hygiene' is a medical word and an analogy of the necessity to do something that is essential. 1959). are decision making ways that have been proved to work better than others in their categories. and high-. The first factors include salaries. analytic heirarchy process etc. Herzberg said there is a seperate set of needs which. Recently. These are called motivators (Herzberg. rather than reward or pressure. organisation strategy etc.. These needs are also called maintenance needs. job satisfaction. Herzberg (1987) identified two main categories of motivational factors: contextual factors and descriptive factors. SMART analysis. when resolved. cadre workers and cannot be generalised for low-cadre employees. cause us to be dissatisfied. sense of belonging etc. when not satisfied. Herzberg (1959) said we have basic needs (hygiene needs) which. Herzberg (1959) concluded that organisations should ain to motivate employees through job satisfaction. But his study of 200 Pittsburgh Engineers and Accountants are based on middle-.it merely prevents us from becoming dissatisfied. do make us satisfied. The question is: should the company sack some workers and increase salaries of retained workers? The other question is. Herzberg (1987) believes workers are not motivated by salaries and wages. Low-cadre employees see salary and wages as mtivating factors more than anything. Responsible managers ought to help them to achieve their modest aspirations. Meeting these needs does not make us satisfied. both motivation and market evolution are evolving in a linked relationship. All employees have aspirations and objectives which they want to achieve through their organisations. They all believed the economic conditions 'will change'. He discribed the positive factors "motivation factors". but which does contribute towards making a patient well (it only prevents infection). personal development. These met human needs in a unique way and include achievement. If the organisation has assumed that increased salaries and wages will motivate "retained workers" and sacked less-productive workers. All he needs to do is to make an employee happy through identifying their state of mind while in office and talking over moody employees' problems. they would have been wrong. Levinson (1989) said "every manager must motivate and encourage employees somehow reconciling the individual needs with the goals of the organisation. should the company leave employees population at status quo and reduce salaries of employees across board? The employees voted for lower salaries and remaining as a family. Lewis-McClear and Taylor .. competences.
but experience over the years show that some bank bosses only cover up. 1955). according to a report by the Department for Business Innovation and Skills (BIS. 2009). the strong internal desire to do something based on interests and passions. the issue of bonus as motivation factor in employees may spurn employees to be 'distrustful'.The BIS report revealed that only 25% of staff have had objectives for 2010 clearly communicated to them and a further third do not even know if a vision for their business' future exists. traditional (passion for finding the highest meaning in life). They are: theoretical (passion for knowledge). If employees collect bonuses for exceeding expectation. aesthetic (passion for beauty. do things and reason. social (passion for service to others). The liability is always inherited by their successors. they should also be fined for receding expectation. feel. 2008). According to Amabile (1998). How? By crushing their employees' intrinsic motivation. Bonus can instigate good performance. the way they view. To satisfy an individual you must know what he needs either by observation or through interviewing. Psychologist Eduard Spranger said there are six values in human beings which we all have in varying degrees. Having clearly set-out objectives can motivate employees. 2009). 'selfish' and 'individualistic' instead of working for the collective success of a team. the way they feel/perceive and the way they see things (Myers. Small business owners in UK have been informed that their staff do not know what their objectives are for next year and are not feeling motivated. comprehend. This model is about personality types. utilitarian (passion for money and what is useful). view. bond. Motivating employees begins with recognizing that to do their best work. "If leaders don't explain where the business is going and what it's seeking to achieve. But many companies unwittingly employ managerial practices that kill it. query and feedback will have to be carried out. produced 'cosmeticized' Annual Report and push the bad days forward. 'self-centred'. The Parliament in UK is considering a Financial Services Bill that Gordon Brown says will wipe out the old bonus system where bank bosses collect bonus based on percentage of profit (BBC News. balance. Managers don't kill creativity on purpose. For employees to be fully motivated. Yet in the pursuit of productivity. and control . Myer-Briggs identified four ways people differ from each other. how can people be motivated or know what they're meant to contribute? Clear goals are a key ingredient for achieving performance and productivity" (MacLeod. managers must be aware that human beings are different in the way they think. . Myer-Briggs model (1956) talked about human differences. people must be in an environment that meets their basic emotional drives to acquire. they go into shaddy deals. Motivation factors that are affective and effective in one employee or in a group of employees may not be affective or effective in others. This is an area where study. individualistic (passion for power and control). These are: the way they think. creativity is more important than ever. and defend (Nohria et al. He said your top two values are what drive you and must be fulfilled for you to achieve happiness in life (Spranger.(1998) said that employee contract breach may act as demotivator and is related with employee's intention to quit an organisation. They do not write off "Bad Debts" as place them under "Debtors" so that they can have bogus and inflated "Turnover" and "Profit after Tax". and harmony).all worthy business imperatives . efficiency. 2009). The report suggested this is having a negative effect on employee motivation levels. 1980). see.they undermine creativity". as only 27% feel positive about the year ahead. In trying to get more bonus. For example. "in today's knowledge economy.
This research method known as triangulation has been greatly exploited by other writers. The results were interesting after participants have been assured of their annonimity and freedom of retirement from the research at their own peril. United Kingdom.33% (25 respondents) said that "fairness to all employees by the managers" and "freedom to use own initiative" will motivate them. while 73. 20 respondents (66. All employees want is the opportunity from the management to prove their worth. data protection. According to Patton (2002) "validity in quantitative research depends on careful instrument construction to ensure that the instrument measures what it is suppose to measure.67% or 26 respondents said that "welfare packages like accommodation. purpose of research. "An ESP represents an opportunity to tap the intelligence and resourcefulness of an organization's employees. Triangulation or mixed methods of research has advantage in that the data collected from a method complemented the ones collected using the other method. Data Analysis Analysis of the survey data showed 90% (27 respondents out of 30) opined that "empathy from the managers" will motivate them. not to be "ordered".33% said "managers leading by example" will motivate them. while "effective communication of latest development" was supported as a motivating factor by 16 respondents (53. The ethics of research bodering on voluntary participation. organisation transport system. 86.67) said their motivation can only come from "regular increment in wages and salaries".Mishra and McKendall (1993) suggested that employees suggestion programs (ESPs) should be used to involve employees in decision making and motivate them. 1993).67%) said that "opportunity to train and develop your potentials" will motivate them and 17 respondents (56. The integrity of any research. Methodology Researches in social sciences. Employees no more want to be "driven". Those companies and managers that have an ESP program uniformly list economic advantages first when describing the benefits of their employee suggestion programs" (Mishra and McKendall. but to be "moved". scholarship for students and pension scheme" will motivate them. 30 Questionnaires containing basic factors about motivation were asked while 10 employees were interviewed based on structured interview method. "Sense of belonging in the organisation" will motivate 16 respondents (53. but to be "shown the way" and not to be "paid" but to be "compensated". comprehensive opinions of people can be extrapolated and analysed by the researcher. 83. especially one involving employees will be best approach using both qualitaitive and quantitave approaches. Survey research and employees' interview were carried out by the researcher on a manufacturing company in East Kilbride. reap significant cost savings. medical facilities. middle and lowewr levels so as to have an unbiased opinions. The data collected were analysed using descriptive statistics and content analysis. Employees motives and psyche have changed appreciably in production. 76. and by doing so. The employees that will be motivated by . but also on ethical adequacy. Scotland. especially one involving employees.67% (23 respondents) said that conducive and neat working environment will motivate them more than any motivating factor. and opportunity to read research report were assured the participants. anonimity of respondents. Glasow. not only depends on its analytical rigour. The questionnaires were shared in equal number of ten to higher.33%). By doing this.33%).
Award and recognition and not salary. and instituting conflict resolution management. organisation transport system. But the results cut across all employees as their total production increased. they feel depressed and weak. All employees in the lower and middle leves (100%) and 7 from the higher level chosed "empathy from the manager as the highest motivating factor. Some employees would have preferred to monetised the benefits. 15 out of 20 respondents (75%) in the lower and middle levels of employment supported "regular increment in salary" as against 2 out of 10 respondents in the higher cadre. He or she should. supervise and direct a motivated employees to achieve objectives. control. management by objectives (MBO). opportunity for employees' training and development. In a multi-national company in Nigeria.conflict" management system were 50% (15) and those that will be motivated by reward and award were 43. Managers should be aware that their job is to plan. the human resources department found out that by introducing a 'cold water tap' and a 'colour television' in the junior staff waiting room. Research Findings Managers can successfully motivate their employees through empathy. The workers derived a sense of belonging in the organisation and worked harder. Managers should identify individual employee's common motivators and prioritise the motivators. . company car and company health facilities have been used to inspire employees. regular feedback from employees. production increased by more than fifteen percent within a year. Conclusion/Recommendations A manager can adeqautely motivate his or her employees. paid holidays. medical facilities. while to some employees motivation is having sense of belonging and having opportunity to train and develop a career. by needs of the employees. Motivation to some people means a 'fat salary'. An employee with large family size and huge bills to settle every month will probably prefer money as motivation than an employee with small family size. rewards. before they can successfully motivate their employees at work. motivation means working in a neat and hygienic environment. to others. effective communication in the project environment and assurance of employees future within and without the organisation. Workers are motivated when they are getting results. 9 respondents from the lower and middle levels each and 8 from the higher level said "welfare packages like accommodation. leading by example. The two motivators could not have affected every employee as their motivators are different in the company. Other motivating factors are secondary. providing a conducive and attractive working environment for the employees. organise. welfare package like employees' children scholarship. recognition of birthdays of employees. otherwise. overtime and wages have helped organisations to motivate some employees. scholarship for students and pension scheme" will motivate them. the creation of a sense of belonging among all employees. fairness to all. free medical services for employees and their families. Nothing motivates better than working in a cohesive team and being seen as part of a success story. In some cases. the promise of accommodation. through methods like psychometric test and physical observation of the employees.33% (13). periodical promotion and increase in take-home pay. inquire about an employee's needs to know the type of motivators that can spurn the employees to get the best from him or her. Managers should practice leadership by being close to all emplyees to know what will motivate them. Salaries and wages are not the only motivators that can improve productivity. awards and recognition for longservice and good work.
In a case where bonuses are paid for officers who receive salary and wages to perform a given job. it has to be for performing a measurable and obvious task. Employee receiving the bonus should be able to show that the exceptional performance was as a result of his action and nothing else. Review of wokers should be done before they start work at all where the minimum performance required of them will be exposed in a clear and writen form. culture etc. language barrier. social issues like immigration. To know about the types of banks in India. Workers should not be seen as 'greedy' by employers when drafting contract agreement. Performance measurement of employees should not be shrouded in mystery. Organisations should have corporate culture". techology change. the bonuses should be motivatinonal. deflation. All types of Banks in India are regulated and the activities monitored by a standard bank called the Reserve Bank of India that stands at the apex of the banking structure. turned around the fortune of the company and thereby saved their company and their jobs. whic can affect the performance of employees. The State Bank of India that was earlier known as the Bank of Bengal is also one of the oldest in the genre. If a bonus has to be paid to motivate an employee to exceed performance. bank A bank is a financial institution that serves as a financial intermediary.Employees that are familiar with the objectives of their organisation are more motivated than employees who have promise of higher pay. inflation. Organisations should recognise that there are external factors beyond the control of employees like politics of the area they operate. They should not be treated as miserable and as if it is only money they work for.that a company which was in debt will go extinct if something was not done has motivated a company's workers to perform brilliantly without additional remuneration. laws and legal issues. it is necessary that we first comprehend the banking system so as to be able to distinguish about its various types. The term "bank" may refer to one of several related types of entities: The History of banking in India dates back to the early half of the 18th century. as major banking decisions are taken at this level. an instigator of innovation and good work and not as a tradition. Workers should be made to feel proud about a business as a "going-concern" and not to milk it dry. economic issues like interest rate. climatology. build teams and not encourage any scheme that recognises individual team members as the champion of a team. Bank of Madras and Bank of Bombay can also be referred to as some of the oldest banking institutions in the country. currency exchange rate etc. The exposition of the obvious . demography. societal risks etc and health and safety issues. 3 Presidency Banks that were established in the country namely the Bank of Hindustan. It is also called the Central Bank. The other types of banks in India are placed below this bank in the hierarchy. The major types of banks in India are as follows: .
As a result. An important turning point in the history of State Bank of India is the launch of the first Five Year Plan of independent India. including the Imperial Bank of India. the cooperative banks in India were set up through the country. Some of the most popular banks in this genre are: Axis Bank. Citibank. The All India Rural Credit Survey Committee proposed the take over of the Imperial Bank of India. on 2 June 1806. The bank was redesigned as the Bank of Bengal. Federal Bank. the Bank of Bombay (established on 15 April 1840) and the Bank of Madras (established on 1 July 1843) followed the Bank of Bengal. and integrating with it. The evolution of State Bank of India can be traced back to the first decade of the 19th century. the State Bank of India and its associate banks and about 20 nationalized banks. . Subsequently. the former state-owned or state-associate banks. on 2 January 1809. all comprises of the public sector banks. It began with the establishment of the Bank of Calcutta in Calcutta. the State Bank of India (SBI) was established on 1 July 1955. The Foreign Banks in India like HSBC. and Standard Chartered bank etc can also be clubbed here. ICICI Bank. because as much as a quarter of the resources of the Indian banking system were controlled directly by the State. Issues like agricultural credit and the likes are taken care of by these banks. Catholic Syrian Bank. Kotak Mahindra Bank and SBI Commercial and International Bank. Subsequently. The Plan aimed at serving the Indian economy in general and the rural sector of the country. they were not equipped to respond to the growing needs of the economic revival taking shape in the rural areas of the country. This resulted in making the State Bank of India more powerful. established under the sponsorship of the Government of Bengal. in order to serve the economy as a whole and rural sector in particular. an Act was passed in the Parliament of India in May 1955. It was the first ever jointstock bank of the British India. Later on. until when they were amalgamated to form the Imperial Bank of India.All government owned banks fall in this variety. the All India Rural Credit Survey Committee recommended the formation of a state-partnered and state-sponsored bank.Public sector banks in India . on 27 January 1921.With the aim to specifically cater to the rural population. Therefore. HDFC Bank. Bank of Rajasthan. Cooperative banks in India . The Act enabled the State Bank of India to make the eight former State-associated banks as its subsidiaries. confined their services to the urban sector. These three banks dominated the modern banking scenario in India. Private sector banks in India . these private banks were established in the country that also contributed heavily towards the growth of the economy and also offering numerous services to its customers. Many of the regional rural banks that are funded by the government banks can also be clubbed in this genre. the commercial banks of the country. the State Bank of India (Subsidiary Banks) Act was passed in 1959. Besides the Reserve Bank of India. Until the Plan. in particular. three years later.A new wave in the banking industry came about with the private sector banks in India. Moreover. ING Vysya Bank. With policies on liberalization being generously taken up. in 1951.
etc. The bank served the heterogeneous financial needs of the planned economic development. it offers various services including merchant banking services. credit cards and insurance. You may also transact money through SBI Commercial and International Bank Ltd by using the State Bank ATM-cumDebit (Cash Plus) card. The eight banking subsidiaries are: • State Bank of Bikaner and Jaipur (SBBJ) State Bank of Hyderabad (SBH) State Bank of India (SBI) State Bank of Indore (SBIR) State Bank of Mysore (SBM) State Bank of Patiala (SBP) State Bank of Saurashtra (SBS) State Bank of Travancore (SBT) • • • • • • • Products And Services Personal Banking • • • SBI Term Deposits SBI Loan For Pensioners SBI Recurring Deposits Loan Against Mortgage Of Property SBI Housing Loan Loan Against Shares & Debentures . factoring services. Instead of serving as mere repositories of the community's savings and lending to creditworthy parties. Through the establishments. fund management. inherited from the Imperial Bank. ATM Services SBI provides easy access to money to its customers through more than 8500 ATMs in India.The State Bank of India emerged as a pacesetter. by banking purposefully. In order to cater to different functions. The bank boasts of having as many as 14 local head offices and 57 Zonal Offices. there are several other establishments in and outside Mumbai. The Bank also facilitates the free transaction of money at the ATMs of State Bank Group. which includes the ATMs of State Bank of India as well as the Associate Banks – State Bank of Bikaner & Jaipur. with its operations carried out by the 480 offices comprising branches. State Bank of Indore. It is recorded that SBI has about 10000 branches. Subsidiaries The State Bank Group includes a network of eight banking subsidiaries and several non-banking subsidiaries. located at major cities throughout India. apart from the corporate center. the State Bank of India catered to the needs of the customers. primary dealership in government securities. well networked to cater to its customers throughout India. Branches The corporate center of SBI is located in Mumbai. State Bank of Hyderabad. sub offices and three Local Head Offices.
Punjab and Sind Bank. State Bank of Saurashtra (SBS). when Imperial Bank of India was nationalised (under the SBI Act of 1955) and re-christened as State Bank of India (SBI) in July 1955. United Bank of India (UBI). Syndicate Bank. State Bank of Hyderabad (SBH). Oriental Bank of Commerce (OBC). The major objective behind nationalisation was to spread banking infrastructure in rural areas and make cheap finance available to Indian farmers. At present. In the year 1980. Canara Bank. in which 7 more banks were nationalised with deposits over 200 crores. State Bank of Patiala (SBP). the Government of India held a control over 91% of the banking industry in India.000 branches. The nationalised 14 major commercial banks were Allahabad Bank. and State Bank of Travancore (SBT). and Vijaya Bank. Central Bank of India. Andhra Bank. After the nationalisation of banks there was a huge jump in the deposits and advances with the banks. Corporation Bank. Punjab National Bank (PNB). Dena Bank. its seven subsidiaries were also nationalised with deposits over 200 crores. . It serves 90 million customers through a network of 9. Then on 19th July 1960. Union Bank of India. The history of nationalised banks in India dates back to mid-20th century. the major nationalisation of banks happened in 1969 by the then-Prime Minister Indira Gandhi. the second phase of nationalisation of Indian banks took place. State Bank of Mysore (SBM). Bank of Baroda. Indian Overseas Bank. Bank of India. With this. the State Bank of India is the largest commercial bank of India and is ranked one of the top five banks worldwide. Bank of Maharashtra. These subsidiaries of SBI were State Bank of Bikaner and Jaipur (SBBJ). State Bank of Indore (SBIR).• • SBI Car Loan Rent Plus Scheme SBI Educational Loan Medi-Plus Scheme Agriculture/Rural Banking NRI Services ATM Services Demat Services Corporate Banking Internet Banking Mobile Banking International Banking Safe Deposit Locker RBIEFT E-Pay E-Rail SBI Vishwa Yatra Foreign Travel Card Broking Services Gift Cheques Other Services • • • • • • • • • • • • • • • Nationalised banks dominate the banking system in India. Indian Bank. UCO Bank. However.
to the founding in 1806 of the Bank of Calcutta. India.List of Public Sector Banks in India is as follows: • • • • • • • • • • • • • • • • • • • • • • • • • • • • Allahabad Bank Andhra Bank Bank of Baroda Bank of India Bank of Maharashtra Canara Bank Central Bank of India Corporation Bank Dena Bank Indian Bank Indian Overseas Bank Oriental Bank of Commerce Punjab and Sind Bank Punjab National Bank State Bank of Bikaner & Jaipur State Bank of Hyderabad State Bank of India (SBI) State Bank of Indore State Bank of Mysore State Bank of Patiala State Bank of Saurashtra State Bank of Travancore Syndicate Bank UCO Bank Union Bank of India United Bank of India Vijaya Bank IDBI Bank State Bank of India State Bank of India (SBI) (NSE: SBIN. Bank of Madras merged into the other two presidency banks. BSE: 500112. through the Imperial Bank of India. making it the oldest commercial bank in the Indian Subcontinent. LSE: SBID) is the largest Indian banking and financial services company (by turnover and total assets) with its headquarters in Mumbai. The bank traces its ancestry to British India. Bank of . It is state-owned.
with the Reserve Bank of India taking a 60% stake. Punjab National Bank and HDFC Bank—its main competitors. With an asset base of $352 billion and $285 billion in deposits. which in turn became State Bank of India. including products aimed at non-resident Indians (NRIs). along with ICICI Bank. has the largest banking branch network in India. Also SBI is the only bank featured in the coveted "top 10 brands of India" list in an annual survey conducted by Brand Finance and The Economic Times in 2010. The government of India nationalised the Imperial Bank of India in 1955. SBI is a regional banking behemoth and is one of the largest financial institution in the world. SBI has 14 Local Head Offices and 57 Zonal Offices that are located at important cities throughout the country. The State Bank of India is the largest of the Big Four banks of India. SBI provides a range of banking products through its vast network of branches in India and overseas. Contents [hide] • • • • • • • • • • • 1 History 2 International presence 3 Associate banks 4 Non-banking subsidiaries 5 Current Board of Directors 6 Branches of SBI 7 Symbol and slogan 8 Loan to NTPC 9 Recent awards and recognitions 10 References 11 External links .Calcutta and Bank of Bombay to form Imperial Bank of India. with over 16. The State Bank of India is the 29th most reputed company in the world according to Forbes. The State Bank Group. It also has around 130 branches overseas. the government took over the stake held by the Reserve Bank of India. It has a market share among Indian commercial banks of about 20% in deposits and loans. In 2008. and renamed it the State Bank of India.000 branches.
In 1959. one of its associate banks. already had an extensive network in Kerala. 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). For instance. These three banks received the exclusive right to issue paper currency in 1861 with the Paper Currency Act. SBI has acquired local banks in rescues. it acquired the Bank of Cochin in Kerala. The roots of the State Bank of India rest in the first decade of 19th century. the Reserve Bank of India. merged with the State Bank of India. which had 120 branches. later renamed the Bank of Bengal. a right they retained until the formation of the Reserve Bank of India. enabling the State Bank of India to take over eight former state-associated banks as its subsidiaries. On 13 September 2008. when the Bank of Calcutta. The Imperial Bank of India remained a joint stock company Pursuant to the provisions of the State Bank of India Act (1955). the Imperial Bank of India became the State Bank of India. was established on 2 June 1806. the government passed the State Bank of India (Subsidiary Banks) Act. which is India's central bank. SBI was the acquirer as its affiliate. The Presidency banks amalgamated on 27 January 1921. and the reorganised banking entity took as its name: Imperial Bank of India. the State Bank of Travancore. On 30 April 1955. All three Presidency banks were incorporated as joint stock companies and were the result of the royal charters. the State Bank of Saurashtra. The government 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. in 1985. acquired a controlling interest in the Imperial Bank of India. History seal of Imperial Bank of India.
Hong Kong. Canoga Park. Sydney. Artesia.C. Dhaka. San Jose. California on 28 March 2011. In Moscow. USA. The 10th branch was opened in Fremont. Fresno. Frankfurt. and Tokyo. It has offshore banking units in the Bahamas. it owns 76% of PT Bank Indo Monex. As of 31 December 2009. the bank established a subsidiary. Los Angeles. It now has five branches in Nigeria. In 1982. SBI owns 55% of Nepal SBI Bank. with Canara Bank owning the rest. Johannesburg. the bank had 157 overseas offices spread over 32 countries. Osaka. It has branches of the parent in Colombo. SBI operates several foreign subsidiaries or affiliates. The other eight branches in California are located in Los Angeles. In Nepal. Bahrain. The State Bank of India already has a branch in Shanghai and plans to open one in Tianjin. It has seven branches. . Tehran. San Diego. In Kenya. and Singapore. D. International presence The Israeli branch of the State Bank of India located in Ramat Gan. London. SBI owns 60% of Commercial Bank of India. and representative offices in Bhutan and Cape Town. In Nigeria. which has branches throughout the country. which now has ten branches – nine branches in the state of California and one in Washington. State Bank of India owns 76% of Giro Commercial Bank. four in the Toronto area and three in British Columbia. In 1990. Tustin and Bakersfield. This bank began in 1981 as the Indo-Nigerian Merchant Bank and received permission in 2002 to commence retail banking. it established an offshore bank: State Bank of India (Mauritius). The Canadian subsidiary. Male in the Maldives. State Bank of India (Canada) also dates to 1982. In Indonesia. State Bank of India (California). It also has an ADB in Boston. SBI operates as INMB Bank. which it acquired for US$8 million in October 2005. Muscat. New York.
) The acquisition of State Bank of Indore added 470 branches to SBI's existing network of 12.119 crore as on March 2009. emphasising the development of rural India. SBI holds 98. the then seven banks that became the associate banks belonged to princely states until the government nationalised them between October 1959 and May 1960.448 and over 21.77%.3% in State Bank of Indore. Associate banks Main Branch of SBI at Mumbai. There has been a proposal to merge all the associate banks into SBI to create a "mega bank" and streamline operations. SBI has five associate banks. The process of merging of State Bank of Indore was completed by April 2010. SBI's total assets will inch very close to the Rs 10-lakh crore mark. In tune with the first Five Year Plan. with itself. Also. the government integrated these banks into the State Bank of India system to expand its rural outreach. • • • • • State Bank of Bikaner & Jaipur State Bank of Hyderabad State Bank of Mysore State Bank of Patiala State Bank of Travancore Earlier SBI had only seven associate banks that constituted the State Bank Group. Then on 19 June 2009 the SBI board approved the merger of its subsidiary. The first step towards unification occurred on 13 August 2008 when State Bank of Saurashtra merged with SBI. reducing the number of state banks from seven to six. State Bank of Indore. following the acquisition. followed by the regional headquarters' name. (Individuals who held the shares prior to its takeover by the government hold the balance of 1. Originally. Total assets of SBI and the State Bank of Indore stood at Rs 998. . all use the same logo of a blue circle and all the associates use the "State Bank of" name.000 ATMs. and the SBI Indore Branches started functioning as SBI branches on 26 August 2010.
 Non-banking subsidiaries Apart from its five associate banks. G. Parthasarathy Iyengar (Director) 9. K. D. Nadaf (Officer Employee Director) 10.SBI Funds Management Pvt Ltd 3. A Krishna Kumar (Managing Director) 5. D.SBI General Insurance Company Limited  Current Board of Directors After the end of O. including Subir Gokarn. S. The complete list of the Board members are: 1. the post was taken over by Pratip Chaudhuri. Pratip Chaudhuri (Chairman) 2. Ltd.Rashpal Malhotra (Director) 11. SBI also has the following non-banking subsidiaries: 1. Mittal (Director) .State Bank of India Mumbai LHO. (SBICPSL) 5. Sundaram (Director) 8. who is also one of the four Deputy Governors of the Reserve Bank of India.D. Contractor (Managing Director) 3. 2011.SBI DFHI Ltd 6. Diwakar Gupta (Managing Director) 4.SBI Cards & Payments Services Pvt. 2011.SBI Factors & Commercial Services Pvt Ltd 4. who is the former Deputy Managing Director of the International Division of SBI. Hemant G. P. Dileep C Choksi (Director) 6. Venkatachalam (Director) 7.SBI Capital Markets Ltd 2. there are twelve members in the SBI Board of Directors. Bhatt's reign as SBI Chairman on 31st March. As on 4th August.
" NTPC chairman at the time. Bhatt on 31 March 2011. including branches that belong to its associate banks. the day of his retirement). which were a direct result of the lending constraints placed by the Reserve Bank of India and the increased risk awareness of power projects. India's number one ADB is in bellary i e State bank of India bellary ADB • • •  Symbol and slogan • The symbol of the State Bank of India is a circle and not key hole and a small man at the centre of the circle. and SBI group(including associate banks) has about 45.51 Trillion that the Power Ministry of India expected to incur in achieving the objectives of the Eleventh Five Year Plan (This plan targeted an addition of 78. SBI has about 25. It will also help minimize the shortfall of around Rs 4.000 ATMs. An NTPC press release said at the time of the declaration of the loan that "The loan shall be utilized for financing the capital expenditure of ongoing and new projects.P.000 MW capacity by the end of year 2032 (NTPC'c capacity at the time of the declaration of the loan was 34. 2011. India (won the second year in a row) by The Banker Magazine Best Bank – Large and Most Socially Responsible Bank by the Business Bank Awards 2009 Best Bank 2009 by Business India .12.RAJKUMAR  Recent awards and recognitions • • • • Best Online Banking Award. accompanied by a drawdown period of four years. SBI agreed to give a loan of Rs 10.Subir V. This loan was offered amidst declining finance for power projects in India.577 MW or power generation capacity which would require an investment of Rs 10. SBI includes 99345 offices in India.3 Trillion).000 crore to NTPC (National Thermal Power Corporation). A circle depicts perfection and the common man being the centre of the bank's business. Gokarn (Director)  Branches of SBI • • State Bank of India has 137 foreign offices in 32 countries across the globe. Slogans : "Pure banking nothing else" •  Loan to NTPC On 8th July. The loan had a "door-to-door" maturity period of 12 years. making it the largest loan SBI had ever given to any single customer in its entire 200 year history. Arup Roy Choudhury clarified that the loan amount would be used to add 128.000 ATMs (25.000th ATM was inaugurated by the then Chairman of State Bank Shri O. Best Customer Initiative Award & Best Risk Management Award (Runner Up) by IBA Banking Technology Awards 2010 The Bank of the year 2009.584 MW).500 branches. SBI has 21.
indiatimes. bseindia. http://en.livemint.com/2009/05/06/world-reputablecompanies-leadership-reputation-table. ^ Kneale. Retrieved 21 December 2010.org.asp?id=2. July 9.• • • • • The Most Trusted Brand 2009 by The Economic Times Most Preferred Bank & Most preferred Home loan provider by CNBC Visionaries of Financial Inclusion By FINO Technology Bank of the Year by IBA Banking Technology Awards SKOCH Award 2010 for Virtual corporation Category for its e-payment solution  References 1.com/afxnewslimited/feeds/afx/2007/11/21/afx4365862. En.statebankofindia.5&compname=STATE%20BANK%20OF %20INDIA&quarter=MC2010-2011&checkcons=55c.com/2011-07-09/india- .com/2009/01/25230613/SBI-ICICI-Bank-profits-riseo. Forbes. Retrieved 20 August 2010. Klaus (6 May 2009).html. Forbes. http://www. Livemint. http://business. 8.wikipedia.htm l. 21 November 2007.in/viewmembanks.iba.forbes. 8 October 2005.accessmylibrary. "World's Most Reputable Companies: The Rankings".asp? Code=1375&period=1001&srno=9172002038.com.cms. http://www. 6.bseindia.com/slide-show/2010/oct/26/slide-show-1-tata-motors-isindias-top-brand.com/user.cmlinks. http://www.com. The Times Of India.htm. ^ "Big Four (banks) – Wikipedia.rediff. 7. 4.com.com/sbi/NewsText. ^ "Indian Banks' Association". http://www.html. Accessmylibrary. ^ a b c d e f "2011 State Bank of India". ^ "SBI accounts for one-fifth of country's loans". "State Bank of Indore branches to become SBI units from Aug 26 : SBI".timesofindia.in. ^ Business Standard (21-June-2010). business. 10. ^ "India's top 10 brands". http://www.com/article-1G1-137297728/sbi-buy-76kenyas.com/Banking/articleshow/6434466. 23 April 2005.org.htm 12.com/qresann/detailedresult_cons.rediff. Retrieved 16 July 2010. Iba. http://articles.org/wiki/Big_Four_(banks).wikipedia. The Times Of India. Retrieved 20 August 2010.indiatimes.html. http://www. Retrieved 21 December 2010. http://economictimes. ^ "State Bank of India Acquired 76% Shareholding in Giro Commercial Bank In 2005". the free encyclopaedia".forbes. 11. "Approvals for State Bank of Indore merger by July : SBI". Retrieved 16 July 2010.^ "NTPC secures 10k cr loan from SBI". Retrieved 26 Oct 2010. 2.^ http://www.^ Economic Times (26-August-2010).asp? scrip_cd=500112&qtr=69. ^ "State Bank of India to set up branch in China's Tianjin".org. 9. 25 January 2009. 2011. http://www. 5. 3.
html.business/29754988_1_rupee-loan-ntpc-chairman-state-run-generation-utility. http://www.  External links • Official website [hide]v · d · e Banking in India Central bank Reserve Bank of India · NABARD Allahabad Bank · Andhra Bank · Bank of Baroda · Bank of India · Bank of Maharashtra · Canara Bank · Central Bank of India · Corporation Bank · Dena Bank · IDBI Bank · Indian Bank · Indian Overseas Bank · Oriental Bank of Commerce · Punjab & Sind Bank · Punjab National Bank · Nationalis ed banks Syndicate Bank · UCO Bank · Union Bank of India · United Bank of India · Vijaya Bank · State Bank of India · State Bank of Bikaner & Jaipur · State Bank of Hyderabad · State Bank of Indore · State Bank of Mysore · State Bank of Patiala · State Bank of Travancore · State Bank of Saurashtra Axis Bank · Bank of Rajasthan · Catholic Syrian Bank · Dhanalakshmi Bank · South Indian Bank · City Union Bank · Federal Bank · HDFC Bank · Private banks ICICI Bank · IndusInd Bank · ING Vysya Bank · Jammu & Kashmir Bank · Karnataka Bank Limited · Karur Vysya Bank · Kotak Mahindra Bank · Lakshmi Vilas Bank · Nainital Bank · Ratnakar Bank · Saraswat Bank · Tamilnad Mercantile Bank Limited · Yes Bank · Development Credit Bank Foreign banks ABN AMRO · Abu Dhabi Commercial Bank · Antwerp Diamond Bank · Arab Bangladesh Bank · Bank International Indonesia · Bank of America · Bank of Bahrain and Kuwait · Bank of Ceylon · Bank of Nova Scotia · The Bank .^ "NTPC signs Rs10.livemint.com/2011/07/08193756/NTPC-signs-Rs10000-cr-loanpa. liveMint. Retrieved 19 October 2011. 13.000 cr loan pact with SBI". July 8. 2011. Retrieved 19 October 2011.
of Tokyo-Mitsubishi UFJ · Barclays Bank · Citibank India · Credit Suisse · HSBC · Standard Chartered · Deutsche Bank · Royal Bank of Scotland Regional North Malabar Gramin Bank · South Malabar Gramin Bank · Pragathi Rural Gramin Bank · Shreyas Gramin Bank banks Real Time Gross Settlement (RTGS) · National Electronic Fund Transfer Financial (NEFT) · Structured Financial Messaging System (SFMS) · CashTree · Services Cashnet · Automated Teller Machine (ATM) · De-Materialisation (DEMAT) · Foreign Exchange (FOREX) Retrieved from "http://en.php? title=State_Bank_of_India&oldid=458283699" Mission Statement Develop into a top rate. Vision Statement • • • Attain high standards of efficiency and professionalism and core institutional values comparable to the best in the field.org/w/index. caring and responsible corporate citizen To provide a satisfying work environment with opportunities for learning. To be a committed. Excellence in customer service Integrity and confidentiality • Values • • . enhancing stakeholder’s value though care and competence and fulfilling obligations to the community at large. Possess world-class standards of efficiency and professionalism rooted in the core institutional values of the State Bank Group. selfdevelopment and self-actualization.wikipedia. nimble footed banking institution committed to excellence in services to its customers.
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