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Working or achievement of SBI in India
The state bank is the biggest commercial bank in the country with the largest number of branches and offices in India and abroad. Since its nationalization in 1955, its working reveals that it has made tremendous progress in deposits, advances, rural credit, industrial finance, priority sectors, merchant banking, mutual fund, housing finance, factoring etc.The State bank of India is a pioneer in the field of agricultural finance. In Fact, it has been a pace setter for other banks in rural banking. It has been helping in providing rural finance by branch expansion, finance for irrigation, wasteland development, financing of warehouse, financing of fisheries etc. The SBI provides short term credit individual farmers for raising of crops. The bank has been extending assistance by way of terms loans to various minor irrigation projects, command area development schemes, dug well and tube well sinking projects, etc.The Bank has also been financing drip irrigation scheme which involves application of adequate water to the plant root at definite intervals, thereby ensuring efficient management of limited water resources. The SBI provides finance to farmers for raising agricultural productivity through modernization of farm practices.
The Bank extends credit facilities to farmers for reclaiming wastelands under social forestry schemes, for raising nurseries and planting trees to meet the raw material requirements of fuel and fodder. It also provides credit for setting up plantations in order to meet the raw material requirements of user industries, joint sector undertaking, companies, cooperatives and individual entrepreneurs. The establishment of warehouses helps in the marketing of agricultural produce by farmers. The SBI has been associated with development of warehouses in a number of states. It also gives advances to farmers against warehouses receipts thereby preventing distress sales on the part of growers and provides a cushion against violent fluctuations in the prices of farm produce. Warehouses helps in storing farm products and prevent their wastage.
The Bank has consultancy Cells which provide management consultancy support to small scale unites and technical guidance to operating staff. These Cells are also activity engaged in the work relating to technology up gradation. Officials of the Cell are trained to act as nodal points for collecting and making available necessary information relating to the industry, including tech – economic aspects. The Bank conducts entrepreneurial development programmes in the backward districts and its lead districts to motivate first generation entrepreneurs to set up risk – bearing ventures. The Bank also provides finances to small business enterprises which includes finances to small business enterprises which include retail traders, transports, professionals and others. The main objective of the Bank has been to increase opportunities for self – employment in the tertiary sector. The Bank has been carrying out a number of schemes to assist the weaker sections of society so that they are provided gainful employment opportunities and are able to raise their income levels.
The above analysis reveals that the State Bank has been playing a vital role in financing large scale industries. But its contributions in supplying loans and advances, in providing equity funds, in modernization, in helping to supply inputs, in marketing etc. to small scale industries and small business has been immense. No other commercial bank in the country is in a position to compete with it.