SBI Funds was judged 'Mutual fund of the year' by CNBC/TV-18/CRISL. In the customer loyalty survey 2006-07 conducted by 'Business World' the Bank was ranked number one in all parameters of customer satisfaction service orientation customer care/ call center and customer's loyalty and home loans. Also the Bank was voted as 'The most preferred housing loan provider' in AWAAZ consumer awards for the year 2006. The bank was noted as 'The most preferred bank' in a survey by TV18 in association with AC Nielsen-ORG Marg. The Bank made a partnership with Tata Consultancy Services for setup C-Edg Technologies and consulting services to the banking financial services and insurance industry. They also launched the centralized pension processing. During the year 2005-06 the bank introduced 'SBI e-tax' an online tax payments facility for direct and indirect tax payment. The Bank's insurance subsidiary 'SBI Life Insurance Company' is a joint venture with Cardif S.A in which Cardif holds 26% of the stake. It is the only Bank that has been permitted 74% stake in the insurance business. They have Offshore Banking Units in the Bahamas Bahrain and Singapore and Representative Offices in Bhutan and Cape Town.In the year 2001 the SBI Life Insurance Company was started by the Bank. They have 22414 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. The State Bank of India is the 10th most reputed company in the world according to Forbes.The Bank has 227 overseas offices spread over 30 countries. The State Bank Group with over 22266 branches has the largest banking branch network in India. SBI provides a range of banking products through their vast network of branches in India and Overseas including products aimed at NRIs. The Retail Banking segment consists of branches in National Banking Group which primarily includes personal banking activities including lending activities to corporate customers having banking relations with branches in the National Banking Group. The Corporate/ Wholesale Banking segment comprises the lending activities of Corporate Accounts Group Mid Corporate Accounts Group and Stressed Assets Management Group. The Treasury segment includes the investment portfolio and trading in foreign exchange contracts and derivative contracts. The Bank operates in four business segments namely Treasury Corporate/ Wholesale Banking Retail Banking and Other Banking Business. Headquartered in Mumbai SBI provides a wide range of products and services to individuals commercial enterprises large corporate public bodies and institutional customers through its various branches and outlets joint ventures subsidiaries and associate companies. State Bank of India is an Indian multinational public sector banking and financial services institution. The Government of India nationalized the Imperial Bank of India in year 1955 with Reserve Bank of India taking a 60% stake and name was changed to State Bank of India. State Bank of India was incorporated on 01 July 1955.
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